The Speaker of Parliament, Right Honourable Alban Kingsford Bagbin, has delivered a resounding endorsement of the Petroleum Hub project, describing it as a vital instrument for the nation’s development.
In a speech at a strategic retreat between the Petroleum Hub Development Corporation (PHDC) and the Parliamentary Select Committee on Energy on Saturday, June 7, 2025, Rt Hon. Alban Bagbin emphasized that addressing Ghanaโs energy challenges requires critical and strategic infrastructure, such as the Petroleum Hub project.
Citing Singapore as an exemplary model of a country that has leveraged hub projects to fuel its growth, Speaker Bagbin outlined how Ghana could utilize the Petroleum Hub to transition from a lower-middle-income to an upper-middle-income country.
โThis is one of the most critical tools for this country to develop. We are a middle-income country but at the lowest level of it. We need some of these cutting-edge interventions to develop. Singapore is just a city-state, and one of the critical developmental tools they used is this one. They donโt produce oil, but the worldโs oil refinery factory is in Singapore. They also have the aviation and financial hubs,โ he said.
Speaker Bagbin acknowledged the challenges faced by the PHDC and assured them of Parliamentโs steadfast support, pledging that Parliament would back the PHDC in its endeavors.
He emphasized that Parliament, in fulfilling its responsibilities for democratic development, would strengthen collaborations with all state agencies to ensure they achieve their mandates.
โThis initiative is an excellent one, and the PHDC cannot be left alone. They need critical partners, and one of the critical partners in democratic development is Parliament. All government agencies must partner with Parliament on the journey to success. If you donโt, you will blame yourself,โ he said.
About the PHDC
The Petroleum Hub Development Corporation (PHDC) was established under the Petroleum Hub Development Corporation Act, 2020 (Act 1053) to spearhead the development of a world-class petroleum and petrochemical hub in Ghana. The hub is designed to meet the energy needs of the West African sub-region and the broader continent.
The PHDC aims to foster innovation, research, and strategic infrastructure development to address Africaโs growing demand for petroleum products and services. By creating an integrated petroleum value chain, the Corporation seeks to unlock economic opportunities, promote industrial growth, and generate sustainable employment for Ghanaians and citizens across Africa.
