Ghana should position itself as the downstream petroleum and logistics hub for West Africa, recognised for reliability, efficiency, innovation and investment, Dr. Patrick K. Ofori, Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), has said.
Ofori said Ghana should pursue an ambitious goal of becoming the region’s leading downstream petroleum and logistics hub through stronger collaboration between government and the private sector.
“Our goal should not simply be to keep pace with change. Our goal should be to position Ghana as the downstream petroleum and logistics hub for West Africa,” he said.
He said the ambition was achievable if government and the private sector continued to work together with a shared sense of purpose.
Speaking at the 7th Ghana International Petroleum Conference (GHiPCON) in Accra on the theme, “Building Resilience Through Policy, Innovation and Investment for Growth,” Ofori said recent geopolitical tensions that disrupted oil supplies, volatile exchange rates and shifting energy markets had shown that resilience was no longer simply about responding to crises.
Instead, he said, resilience requires anticipating risks, preparing for them, adapting to changing conditions and emerging stronger.
“Resilience is not measured by how we perform when conditions are favourable; it is measured by how prepared we are when they are not. That is the challenge before us today, and it is one we must address together,” he said.
Ofori said building resilience should be anchored on three priorities: policy, innovation and investment.
On policy, he said businesses thrive where policies are consistent, regulations are transparent and institutions are predictable.
“A stable policy environment encourages investment, promotes healthy competition, protects consumers and gives businesses the confidence to plan for the future,” he said.
On innovation, Ofori said technological advances were transforming every aspect of the downstream petroleum industry, from digital systems and smarter logistics to automation, predictive analytics, artificial intelligence and cleaner technologies.
He said innovation was helping the industry improve efficiency, strengthen safety, reduce costs and make better decisions.
On investment, Ofori said resilience depends on modern infrastructure. He called for increased investment in storage facilities, strategic petroleum reserves, local refining capacity, transport corridors and the road networks linking ports, depots and markets.
“These investments will improve supply reliability, lower logistics costs, create jobs, stimulate industrialisation and strengthen Ghana’s energy security,” he said.
Ofori said CBOD remained committed to working closely with government, regulators, industry players, development partners and the wider private sector to strengthen Ghana’s downstream petroleum sector.
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