Chairman of Parliament’s Energy Committee, Emmanuel Kwasi Bedzrah, has praised the establishment of the Petroleum Hub Development Corporation (PHDC), describing it as “a generational legacy and a critical engine for the economic transformation of the country.”
Mr. Bedzrah, who is also the Member of Parliament for Ho West, made the remarks in a statement on the floor of Parliament, where he called for urgent and sustainable funding to support the PHDC’s operations and long-term goals.
According to him, the Petroleum Hub project is not just another infrastructure initiative but a national imperative with the potential to transform Ghana’s energy landscape and establish the country as the energy hub of West Africa.
“Mr. Speaker, the Petroleum Hub is not just another infrastructure project — it is a national imperative, a generational legacy, and a critical engine for economic transformation. It will place Ghana at the centre of West Africa’s energy future, deepen our industrial base, and create hundreds of thousands of jobs for our people. Let us not allow the vision to be stalled by preventable funding constraints. Let us act boldly and urgently — to provide the Corporation with the means to deliver on this national dream,” Mr. Bedzrah said.
The Petroleum Hub Project, located in Jomoro in the Western Region, is envisioned as a fully integrated zone for petroleum refining, storage, trading, distribution, and petrochemical production. It is expected to anchor Ghana’s transition into a major energy player on the African continent.
Mr. Bedzrah, however, warned that the initiative is currently threatened—not by a lack of planning or ambition—but by insufficient financing to meet compensation obligations and service the project enclave.
“This transformational agenda is under threat not from a lack of vision or strategy, but from lack of funding for the payment of compensation and servicing of the enclave,” he noted.
To address the funding gap, the Energy Committee has recommended to Parliament that 10 pesewas per litre of fuel be allocated from the margins within the Unified Petroleum Price Fund (UPPF) directly to PHDC to support its activities.
Additionally, Mr. Bedzrah proposed that Parliament ensure a budgetary provision of GH¢300 million in the upcoming Mid-Year Budget Review or Appropriations Act for the payment of land compensation to affected persons and communities.
He emphasized that reliable funding will not only help settle compensation but also support investments in training and capacity-building for Ghanaians, ensuring a skilled local workforce is ready to meet the demands of the emerging petroleum value chain.
The Petroleum Hub Project is projected to attract more than US$60 billion in investment, generate over 780,000 direct and indirect jobs, boost export revenue, and significantly enhance Ghana’s energy security and industrial base.
