The Petroleum Hub Development Corporation (PHDC) has appealed to the government for GHS300 million in compensation for farmers and property owners to enable the full acquisition of a 20,000-acre parcel of land at Jomoro in the Western Region for the establishment of Ghana’s Petroleum Hub.
The Corporation says although former President Nana Addo Dankwa Akufo-Addo approved the release of GHS200 million for compensation, the amount was not captured in the 2024 Budget, causing delays in the project’s implementation.
Speaking to journalists during a meeting between the Parliamentary Energy Committee and energy sector agencies, PHDC Chief Executive Officer, Dr. Toni Aubynn underscored the urgency of resolving the land issue to attract investors and accelerate progress.
“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. The GHS300 million will help the government complete the acquisition process,” Dr. Aubynn stated.
He reiterated that the proposed petrochemical enclave holds significant potential for Ghana’s energy sector and broader economic development, and called for swift action to address the remaining challenges.