{"id":361941,"date":"2025-06-13T19:43:55","date_gmt":"2025-06-13T19:43:55","guid":{"rendered":"https:\/\/www.ghanamma.com\/2025\/06\/13\/parliament-pushes-for-300m-compensation-in-budget-to-fast-track-petroleum-hub\/"},"modified":"2025-06-13T19:43:55","modified_gmt":"2025-06-13T19:43:55","slug":"parliament-pushes-for-300m-compensation-in-budget-to-fast-track-petroleum-hub","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2025\/06\/13\/parliament-pushes-for-300m-compensation-in-budget-to-fast-track-petroleum-hub\/","title":{"rendered":"Parliament pushes for $300m compensation in budget to fast-track Petroleum Hub"},"content":{"rendered":"

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Ghana\u2019s Parliament is calling on the Minister of Finance, Dr Cassiel Ato Forson, to allocate $300 million in the upcoming Mid-Year Budget Review to compensate residents whose lands were acquired for the Petroleum Hub project.<\/strong><\/p>\n

The appeal was championed by the Speaker of Parliament, Rt. Hon. Alban Sumana Kingsford Bagbin, who reaffirmed his commitment to the strategic national initiative and emphasised the urgency of unlocking funds to bolster progress.<\/p>\n

\u201cAlthough I lack the authority to issue a decree, I fervently urge the Minister to prioritise provisions for compensation in the Mid-Year Budget Review,\u201d Speaker Bagbin stated in Parliament on Friday, 13 June 2025.<\/p>\n

He explained that while he could not issue a directive to the Finance Minister, he would \u201cearnestly appeal to and galvanise\u201d him to include the compensation package in the budget review to demonstrate government\u2019s commitment to the project and attract private sector investment.<\/p>\n

\u201cExtensive research on this initiative traces back to the tenure of the late President, Professor John Evans Atta Mills. During John Mahama\u2019s initial term, the project was actively advanced, and H.E. Akufo-Addo sustained its momentum. Now, under H.E. Mahama\u2019s second term, it is manifest that the nation collectively recognises this as a strategic imperative,\u201d he noted.<\/p>\n

Energy Committee backs urgent action<\/h2>\n

The Speaker\u2019s comments followed a statement by the Chairman of the Parliamentary Select Committee on Energy, Hon. Emmanuel Bedzrah, who called for urgent national focus on the Petroleum Hub.<\/p>\n

Addressing the House, the Ho West MP highlighted the project’s transformational potential, noting that its completion could position Ghana as a key energy and commercial hub in West Africa.<\/p>\n

\u201cThe Petroleum Hub project is of paramount national strategic importance. If addressed with the requisite urgency, it holds the potential to revolutionise Ghana\u2019s energy sector, unlock billions in investments, and elevate our nation as a regional industrial and commercial powerhouse,\u201d he said.<\/p>\n

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Hon. Bedzrah urged that 10 pesewas from the Unified Petroleum Price Fund (UPPF) be channelled to the Petroleum Hub Development Corporation (PHDC) immediately and reiterated the need for a $300 million budgetary provision to compensate landowners in Jomoro, the site earmarked for the hub.<\/p>\n

He added that the project is projected to create direct employment for over 780,000 Ghanaians, making it a critical economic intervention.<\/p>\n

Lawmakers lend support<\/h3>\n

Several MPs across party lines echoed the call for expedited action, stressing the economic significance of the project and the need to maintain public trust by fulfilling compensation promises.<\/p>\n

The Petroleum Hub is expected to house refineries, petrochemical plants, storage and distribution infrastructure, and marine services\u2014all components geared toward boosting Ghana\u2019s energy independence and regional competitiveness.<\/p>\n

Speaker Bagbin said that timely disbursement of compensation would send a clear signal of the state\u2019s commitment and serve as a catalyst for attracting international partners.<\/p>\n

\u201cThe transformative impact of a petroleum hub, as exemplified by Singapore, is undeniable. We must act now.\u201d<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Ghana\u2019s Parliament is calling on the Minister of Finance, Dr Cassiel Ato Forson, to allocate $300 million in the upcoming Mid-Year Budget Review to compensate residents whose lands were acquired for the Petroleum Hub project. The appeal was championed by the Speaker of Parliament, Rt. Hon. Alban Sumana Kingsford Bagbin, who reaffirmed his commitment to […]<\/p>\n","protected":false},"author":1,"featured_media":361942,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-361941","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"\nParliament pushes for $300m compensation in budget to fast-track Petroleum Hub - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2025\/06\/13\/parliament-pushes-for-300m-compensation-in-budget-to-fast-track-petroleum-hub\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Parliament pushes for $300m compensation in budget to fast-track Petroleum Hub - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Ghana\u2019s Parliament is calling on the Minister of Finance, Dr Cassiel Ato Forson, to allocate $300 million in the upcoming Mid-Year Budget Review to compensate residents whose lands were acquired for the Petroleum Hub project. 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