The Member of Parliament for Evalue-Ajomoro-Gwira and a member of the Parliamentary Energy Committee, Hon. Kofi Arko Nokoe, has described the proposed Petroleum Hub Project as an ambitious national investment that could generate massive economic opportunities for the nation.
Speaking in an interview on Off the Lens on Online Times‘ YouTube channel, the lawmaker said the project has the potential to transform the country into a major refining and petrochemical centre in the region.
According to him, the initiative will not only strengthen Ghana’s energy sector but also create hundreds of thousands of jobs across multiple industries.
“I must say it is an ambitious project that is sure to bring a lot of dividends to us as a country,” he said.
Kofi Arko Nokoe explained that the project comes at a time when global energy trends are changing, with many countries gradually transitioning away from fossil fuels.
“Fossil fuel will not last forever. People are moving away day in and day out. In the next 50 to 100 years, I don’t think anybody would want to buy a diesel-powered car or generator because people are already opting for electric vehicles,” he noted.
He therefore stressed the need for country to take advantage of its current oil resources by investing in refining and petrochemical industries.
According to the MP, establishing a refinery in Jomoro would produce several valuable by-products beyond fuel.
“When crude oil is refined, it produces a lot of derivatives and high-value products. We are talking about petrochemical industries, plastics, pharmaceuticals, bitumen and many others,” he said.
He pointed out that some countries have successfully built strong economies around refining petroleum products despite not producing crude oil themselves.
“Look at Singapore. They do not produce oil, but they refine crude oil brought in from other countries and benefit from the by-products,” he explained.
Kofi Arko Nokoe said Ghana could adopt a similar model by refining crude oil for other countries in the sub-region.
He noted that landlocked countries such as Burkina Faso and Mali could potentially rely on Ghana’s refining infrastructure to process their petroleum products.
“Countries like Burkina Faso and Mali prefer doing business with Ghana, and they can bring their crude or petroleum products here for refining,” he said.
The lawmaker also highlighted the potential for the petroleum hub to stimulate industrial growth across multiple sectors, including paint manufacturing, construction materials and other petrochemical-based industries.
“There will be many derivatives from the refinery. You will have petrochemical factories, paint factories and even bitumen for road construction,” he said, adding that Ghana currently imports key materials used in road surfacing.
“Even countries like Côte d’Ivoire have bitumen production, but we import most of these components.”
Kofi Arko Nokoe further indicated that the project could also support tourism and commercial activities, with plans for additional facilities including leisure and entertainment infrastructure.
However, he acknowledged that the project has faced challenges, particularly with land compensation issues.
According to him, the previous administration led by Nana Akufo-Addo initiated the project but compensation for affected landowners had not been fully addressed.
“You do not just cut sod and say there is allocation for land compensation when actually there is none,” he said.
He revealed that the current government would need to raise about 300 million Ghana cedis to settle land compensation and entitlement claims before the project can move forward smoothly.
Kofi Arko Nokoe, said discussions with government officials and stakeholders are ongoing to ensure the project materialises.
He disclosed that members of the Petroleum Hub Development Corporation recently engaged with the Ministry of Lands and Natural Resources, where the sector minister reaffirmed government’s support for the project.
“The minister was candid and said he endorses the project and has faith in it,” he said.
The MP expressed optimism that once completed, the petroleum hub could generate extensive employment opportunities across the country.
According to him, the project would create both skilled and unskilled jobs in construction, refining, manufacturing and other related sectors.
“This will not only benefit my constituency but the entire country. There will be direct and indirect jobs for Ghanaians across many industries.”
Click the link below to watch the full interview…
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