Ghana: Regulatory Bodies Back Petroleum Hub Project, Assure Speedy Permitting Process For Investors

2nd May 2025

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Ghana’s $60 billion petroleum hub project, to be sited in Jomoro in the Western Region of the country, has received the backing of environmental and petroleum regulatory bodies, pledging speedy issuance of permits to investors who want to invest in the project.

The National Petroleum Authority (NPA), Environmental Protection Agency (EPA), and Land Use and Spatial Planning Authority (formerly Town and Country Planning) have all affirmed their commitment to the project.

The petroleum hub, which is spearheaded by the Petroleum Hub Development Corporation (PHDC), is expected to establish three refineries,each with a capacity of 300,000 barrels per stream day minimum.

Additionally, the hub will have five (5) petrochemical plants, each with a minimum processing capacity of 90,000 barrels per stream day as well as two jetties with multiple berths.

In a bid to attract both local and foreign investors, the government has declared the petroleum hub area, which covers 20,000 acres of land, as a free zone enclave. This means that prospective investors will enjoy tax holidays and other incentives.

The PHDC was established by an Act of Parliament (Act 1053) in 2022 to promote investment and drive enhanced job creation, reducing Ghana’s alarming unemployment situation.

Speaking at the Inter-Agency Dialogue in Accra, the capital of Ghana, on April 30, 2025, which brought together several stakeholders, the Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), Dr. Toni Aubynn, described the petroleum hub project as a game-changer that must be supported by stakeholders to ensure its success.

He urged stakeholders to work cohesively to eliminate bureaucratic delays and inefficiencies that deter potential investors.

“For us to move forward effectively, inter-agency coordination must not be an afterthought; it must be a culture. We must streamline processes, align on timelines, reduce duplication, and ensure that our communications are consistent and timely. Investors are watching. Citizens are watching. And they’re looking to us for leadership not just in vision but in execution,” he said.

Dr. Aubynn reaffirmed the PHDC’s commitment to creating an investor-friendly environment that not only attracts but also retains investment in the Petroleum Hub.

“We envision a hub that is more than just a collection of refineries, tank farms, pipelines, and ports. We envision a hub that becomes the beating heart of energy transformation in West Africa—a hub that creates jobs, drives innovation, builds local capacity, and strengthens Ghana’s economic sovereignty,” he said.

The Deputy Minister of Energy and Green Transition, Hon. Richard Gyan-Mensah, representing his minister, reminded the agencies in the sector, saying, “Let me emphatically state that the success of the Hub is not the sole responsibility of the Corporation but is a collective one for all stakeholders in the sector.”

In this respect, he tasked them to share a sense of purpose by simplifying the procedures needed to operate in the sector to engender investment and capture the petroleum and petrochemical market in Africa and beyond.

“Let us promote a collective sense of national responsibility that will help us achieve success. Let us work together by simplifying our processes,” which will help us become champions in the sector, not only in Ghana but also to compete globally.

The Acting National Coordinator of the African Continental Free Trade Area (AfCFTA), Mr. Benjamin Asiam, representing his office, expressed optimism that Ghana is blessed to have the PHDC.

He stressed that with the right structures, Ghana can take full advantage of the petroleum and petrochemicals market in Africa, which will boost the nation’s economy by developing the hub to attract the right investment and make it competitive in the petroleum and petrochemicals industry, particularly in Africa and the world.

He said that through the AfCFTA platform, Ghana stands a chance to develop, build, and market products and its human resources to better its socioeconomic development drive.