The Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), Dr Toni Aubynn, has presented the Petroleum Hub project as the countryโs most reliable and transformative pathway to building a resilient economy capable of withstanding global shocks.
Speaking at the 77th Annual New Year School and Conference of the University of Ghana on Tuesday, January 6, 2026, Dr Aubynn reaffirmed that the project, planned for development in the Jomoro Municipality of the Western Region, represents the countryโs most ambitious infrastructure investments, which, upon completion, will catalyse economic growth.
In his speech, Dr Aubynn added that the project, when completed, would boost the countryโs Gross Domestic Product (GDP) by 70% and create more than 700,000 jobs.
โThe Petroleum Hub project is a significant project for Ghana. The Petroleum Hub, a project located in Jomoro, Western Region, aims to include refineries, petrochemical plants, and tank farms. When fully operational, according to research, it will boost the countryโs GDP by 70%.โ
Addressing the sub-theme โPromoting Industrialisation, Revitalisation, Support, and Transformation,โ Dr Aubynn stressed the urgent need for Ghana to transition from a consumption-driven economy to one anchored in production, value addition, and exports.
โAn economy that imports more than it competitively produces is a fragile economy. Ghana must therefore invest deliberately in productive sectors that add value to our natural resources, create jobs, and strengthen our external balances,” he said.ย
He positioned the Petroleum Hub Project as a transformational national initiative capable of reversing Ghanaโs long-standing import dependency by expanding downstream petroleum and petrochemical production and related industrial activities.
According to Dr Aubynn, the Petroleum Hub will not only reduce fuel and industrial imports but also stimulate industrial growth, enhance export earnings, and support manufacturing through affordable inputs, thereby building a more resilient and competitive economy.
Dr Aubynn also commended the President and the Minister for Finance, Dr Cassiel Ato Forson, for the macroeconomic improvements recorded in the governmentโs first year in office, noting positive trends in GDP growth, inflation moderation, employment, and cedi stability.
He, however, cautioned that sustaining these gains would require structural economic transformation and that strategic projects such as the Petroleum Hub must be prioritised to consolidate recovery and deliver long-term development.
The conference was officially opened by His Excellency, the President of Ghana, John Dramani Mahama, who outlined key government initiatives, including the 24-Hour Economy, The Big Push, and the Accelerated Export Development Programme, aimed at resetting Ghanaโs economy and preventing future economic shocks under his administration.
The event also featured contributions from Madam Marietta Agyeiwaa Brew, the Chairperson of the University Council; Hon. Haruna Iddrisu; Professor Ishmael Yamson; the Governor of the Bank of Ghana, Dr Johnson Asiama; and the Chief Executive Officer of the National Petroleum Authority, Mr Edudzi Tameklo.
About the PHDC
The Petroleum Hub Development Corporation (PHDC) was established under the Petroleum Hub Development Corporation Act, 2020 (Act 1053), to lead the development of a world-class petroleum and petrochemical hub in Ghana. The hub is intended to serve the energy needs of the West African sub-region and the broader continent.
PHDC aims to promote innovation, research, and strategic infrastructure development to meet Africaโs growing demand for petroleum products and services. By creating an integrated petroleum value chain, the Corporation seeks to unlock economic opportunities, foster industrial growth, and create sustainable employment for Ghanaians and citizens across Africa.
About the Petroleum Hub Project
The Petroleum Hub Project, estimated at $60 billion, will be located in Jomoro, in Ghanaโs Western Region. The hub will comprise: Three refineries with a total capacity of 900,000 barrels per stream day (BPSD),
Five petrochemical plants with a minimum capacity of 90,000 BPSD. Storage tanks with a cumulative capacity of 10 million cubic meters and at least two jetties to support import and export activities.
The project is poised to position Ghana as a leading petroleum and petrochemical hub in Africa, enhancing regional energy security and economic integration.
