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President Akufo-Addo breaks ground on $12 Billion Petroleum Hub Project
In a significant move poised to reshape Ghana’s energy landscape, President Nana Addo Dankwa Akufo-Addo has broken ground on the first phase of the ambitious Petroleum Hub Project.
The ceremony, held on August 19, 2024, in Nawule, Jomoro, Western Region, marks the commencement of a transformative journey aimed at creating a modern, diversified, and financially sustainable energy economy for the country.
The Petroleum Hub Project, which carries an estimated total cost of $12 billion, is designed to elevate Ghana’s standing as a key player in Africa’s energy sector. The hub, which will be developed in three independent phases, is set to include a 300,000 barrels per day (bpsd) refinery, a petrochemical plant, and extensive storage and port facilities. The project’s scale and ambition highlight Ghana’s commitment to addressing its energy challenges and leveraging its resources for long-term growth.
During the groundbreaking ceremony, President Akufo-Addo expressed his optimism about the project’s potential to transform Ghana’s economy. “Today is a very good day for our homeland, Ghana. This project promises to be a cornerstone of our nation’s development, ensuring that all Ghanaian homes and industries have access to reliable, affordable, and environmentally sustainable energy.”
The President underscored the strategic importance of the project, noting that it would not compete with existing refineries in the region but rather complement them, with a focus on serving the African Continental Free Trade Area (AfCFTA) market. The hub is expected to create approximately 780,000 direct and indirect jobs, stabilize the national currency, and stimulate local economic development.
President Akufo-Addo also highlighted the environmental considerations embedded in the project, emphasizing the incorporation of cutting-edge technology and green buffers to support local fauna and flora.
The President directed the Ministry of Energy to ensure the training of 200,000 skilled, semi-skilled, and unskilled Ghanaians in preparation for the project’s takeoff, with a significant portion of these workers coming from the Jomoro area.
“We envision a facility that will be a benchmark for crude and petroleum product pricing in Africa,” he stated, stressing the project’s alignment with global environmental sustainability standards.
The first phase of the project, led by the TCP-UIC Consortium, represents a crucial step towards achieving Ghana’s energy goals. The consortium, comprising several international and local partners, has been chosen for its technical expertise and financial capacity to deliver on the project’s ambitious timelines. President Akufo-Addo assured the consortium of the government’s full support, stating, “Your success is our priority.”
In addition to the economic and environmental benefits, the project is expected to have a profound social impact, particularly in the Jomoro enclave. The President announced the allocation of GH¢200 million by the Ministry of Finance for land compensation to affected communities, recognizing the generous contributions of the Chiefs and people of Jomoro who have offered their land for the project.
President Akufo-Addo commended their dedication and collaboration, which have been instrumental in bringing the project to fruition. He called on all stakeholders to unite in making the Petroleum Hub Project a reality, emphasizing its importance for future generations.
The project is also expected to lead to the establishment of the Jomoro Petroleum Hub Development Corporation (JPHDC), with its headquarters in Jomoro.
The groundbreaking ceremony was attended by key stakeholders, including government officials, traditional leaders, and representatives from the private sector.
As Ghana embarks on this bold initiative, the Petroleum Hub Project stands as a testament to the nation’s determination to achieve energy independence, economic diversification, and sustainable development.
News
You won’t regret, I’ll make you proud – Newly elected GBA president
The newly elected President of the Ghana Bar Association (GBA), Efua Ghartey, has vowed to lead the Association towards a united and progressive future.
Speaking after her historic election in Kumasi on Wednesday, Ghartey pledged to resolve divisions and end factions within the GBA, emphasising the importance of unity.
She stressed that the Association’s success depends on the collective effort of all members and called for a shared commitment to advancing the GBA’s goals.
According to her, “The Bar has spoken and from this day forward it is a united Bar in service. No divisions, no factions. It is over. It is time that we put shoulders to the plough and work to deliver what we believe should be the bar in progress.”
“This indeed is something new, something novel that the bar for the first time has entrusted leadership to the ladies and I know that with God’s help, we shall make you proud,” she said.
“We shall serve you with all our ability and we shall make sure that you will never regret this choice,” she stated.
Mrs Ghartey’s election is being hailed as a transformative moment for the GBA, as it ushers in new leadership that is expected to bring fresh perspectives to the legal profession in Ghana.
She polled 1,278 votes to beat her closest contender Agbesi Dzakpasu who polled 1060.
Mrs Ghartey, a seasoned lawyer of over 30 years’ standing at the Bar and with an extensive track record of service to the GBA, was running for national president for the third time.
Her two previous attempts ended in a narrow loss to Tony Forson, the immediate past president of the GBA, and Yaw Boafo, the current national president, by thin margins of 67 and 65 votes, respectively.
Undeterred by these setbacks, Mrs Ghartey who is also the wife of former Attorney General, Joe Ghartey, spent the past six years consistently voicing her intention to lead the GBA.
In the Vice Presidential race, Victoria Barth polled 1624 of the total votes to win the race defeating Ebenezer Kwaitoo who polled 495 votes.
Victoria Barth is an accomplished legal professional, well known for her stellar academic career at the Ghana School of Law, where she has mentored and taught many young lawyers.
Source: Citinewsroom.com
News
Alan Kyeremateng nominates Kwame Owusu Danso as running mate
Leader of the Movement for Change, Alan Kwadwo Kyerematen has nominated a young lawyer and media practitioner as his running mate.
Revealing his running mate, he said “I have nominated a young person, a lawyer by profession, a political activist, and his name is Kwame Owusu Danso, as my running mate.”
Speaking after submitting his nomination to contest for the Presidency at the Electoral Commission today, he noted that someone who is a youth advocate, Kwame Owusu Danso would bring his expertise to his candidacy for the needed transformation.
Mr.Kyerematen highlighted that Mr.Owusu Danso’s selection aligns with the aspirations of Ghana’s youth who are seeking greater inclusion in governance decisions.
Additionally, he stressed that Mr.Danso’s is a youth icon, recognized for his versatility and broad talents across corporate management, law, broadcast journalism, music, and civil society activism.
He is optimistic that God will guide their footsteps to victory come December 7,2024, adding that by this step, MFC is providing a platform for a non-partisan candidate to be elected as President.
Mr.Kyerematen further noted that Mr.Danso’s consistent history of advocating for public causes, especially in promoting quality governance, further strengthens his credibility.
His work with renowned professionals such as Dr. Lloyd Amoah of the University of Ghana, and governance experts like Dr. Kojo Asante and Dr. Franklin Oduro of the Centre for Democratic Development (CDD), underscores his commitment to transparency and accountability.
Mr.Owusu Danso as a founding member of the Forum for Accountable Governance (FAG), Danso has been dedicated to issues such as anti-corruption, electoral reforms, environmental governance, and human rights over the period.
By Edem Mensah-Tsotorme
