Ghana's Parliament pushes for $300m compensation in budget to fast-track Petroleum Hub.

Ghana’s Parliament has formally appealed to the Minister of Finance, Dr. Cassiel Ato Forson, to allocate $300 million in the upcoming Mid-Year Budget Review to compensate residents of Jomoro whose lands were acquired for the government’s flagship Petroleum Hub project.

The legislative call highlights the urgency of resolving compensation issues to remove delays and unlock further investment in what is poised to become Ghana’s largest energy infrastructure development.

Strategic Investment in Ghana’s Energy Future

Located in the Jomoro Municipality of the Western Region, the Petroleum Hub is expected to transform Ghana into a major commercial and energy hub in West Africa. The project, when completed, is projected to:

• Create over 780,000 direct and indirect jobs

• Host refineries, petrochemical plants, and marine services infrastructure

• Boost local and regional energy supply chains

• Increase Ghana’s energy independence and economic competitiveness

The proposed $300 million compensation will be used to settle affected landowners and facilitate the release of lands for construction, which is expected to accelerate with adequate funding.

Bipartisan Support and Historical Continuity

The initiative has received strong bipartisan support. Speaker of Parliament, Rt. Hon. Alban Sumana Kingsford Bagbin, emphasized the national relevance of the project, noting its historical roots dating back to the late President John Evans Atta Mills and its continuation through successive administrations.

"The Petroleum Hub has remained a consistent national vision across different governments, and we must now ensure it becomes a reality," Bagbin said.

Calls for Alternative Funding Mechanisms

The Parliamentary Select Committee on Energy, chaired by Hon. Emmanuel Bedzrah, has proposed that the Unified Petroleum Price Fund (UPPF) could also be used to support project-related compensation and development, providing a sustainable funding model for the long term.

What’s Next

The Mid-Year Budget Review, expected in the coming weeks, will be a crucial indicator of the government’s commitment to the Petroleum Hub. The allocation of the proposed funds could mark a turning point in the pace of implementation and investor confidence in the energy sector.

For residents of Jomoro and stakeholders across Ghana’s petroleum value chain, the decision could have far-reaching economic and social implications.

Stay tuned to TheHubWeb.com for more updates on Ghana’s Mid-Year Budget Review and the future of the Petroleum Hub project.