Parliament pushes for $300m compensation in budget to fast-track Petroleum Hub

Ghana's Parliament is urging Finance Minister Dr. Cassiel Ato Forson to allocate $300 million in the upcoming Mid-Year Budget Review for compensating residents whose lands were acquired for the Petroleum Hub project. The project, located in Jomoro, aims to transform Ghana's energy sector and economy.

*Project Benefits:*

- *Employment Opportunities*: The project is expected to create direct employment for over 780,000 Ghanaians.

- *Economic Growth*: It will house refineries, petrochemical plants, storage and distribution infrastructure, and marine services, boosting Ghana's energy independence and regional competitiveness.

- *Strategic Importance*: The Petroleum Hub project is considered of paramount national strategic importance, with the potential to revolutionize Ghana's energy sector and unlock billions in investments.

*Key Stakeholders' Views:*

- *Speaker of Parliament*: Alban Sumana Kingsford Bagbin emphasized the urgency of unlocking funds to bolster progress on the project, appealing to the Minister to prioritize provisions for compensation.

- *Energy Committee Chairman*: Emmanuel Bedzrah called for urgent national focus on the project, highlighting its transformational potential and the need for a $300 million budgetary provision to compensate landowners.

The Petroleum Hub project has been a long-term initiative, with its roots tracing back to the tenure of former President John Evans Atta Mills and continued by subsequent administrations. The project's completion is expected to position Ghana as a key energy and commercial hub in West Africa. Source : graphic.com