The Petroleum Hub Development Corporation (PHDC) has requested GHS300 million from the government to finalize the acquisition of 20,000 acres of land in Jomoro, Western Region, for the development of Ghana’s Petroleum Hub. Despite former President Nana Addo Dankwa Akufo-Addo’s approval for GHS200 million in compensation, the funds were not allocated in the 2024 Budget, stalling project implementation.
“We are receiving interest from numerous investors who are eager to know if the land acquisition issue has been resolved. We believe this is a critical requirement for them to commit fully. The GHS300 million will help the government complete the acquisition process,” PHDC CEO, Dr. Toni Aubynn, told journalists during a meeting with the Parliamentary Energy Committee.
Dr. Aubynn stressed the importance of resolving the land issue to attract investors and drive progress, highlighting the petrochemical enclave’s potential to boost Ghana’s energy sector and broader economic development. “There are many investors knocking on our doors and calling to find out if the land acquisition issue has been resolved. We believe this is a critical requirement for them to commit fully,” he reiterated.
The PHDC CEO urged swift action to address the remaining challenges and unlock the project’s potential. With investor interest growing, the Corporation is keen to finalise the land acquisition and move the project forward.
