Dr Toni Aubynn, Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), has described the Petroleum Hub project as a transformative initiative that will position Ghana as a leading energy and petrochemical hub in Africa.
He said the Petroleum Hub, to be established in Jomoro in the Western Region, was a project whose time had come, representing Ghana’s bold and ambitious drive to industrialise and create sustainable jobs through energy investments.
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“The Petroleum Hub may look like a big dream, but Ghana must have a big dream,” Dr Aubynn told the press.
He explained that the government had already earmarked land for the development, which would operate under a Free Zones model to attract both local and foreign investors. The government, he said, was acquiring and servicing the land to make it ready for investors seeking to establish refineries, petrochemical plants, tank farms, and port facilities.
According to him, investors would enjoy several incentives, including a tax-free period during construction and a 10-year tax holiday to enable them to recoup their investments. “After that, they will pay only 15 per cent corporate tax as compared to the general 25 per cent, and 35 per cent in the case of mining,” he stated.
Dr Aubynn noted that the PHDC had initiated an inter-agency dialogue to cut down permit acquisition time from over 349 days to just one month, reducing bureaucratic bottlenecks that often discourage investors. “At times, investors are discouraged by unnecessary bureaucracies that delay permits. So, the PHDC will be the go-to institution to facilitate and coordinate with all the regulatory bodies to speed up approvals,” he said.
He emphasised that the government’s role was primarily facilitative, stressing that “the hub is a private-sector-driven project, with the government only providing the enabling environment.”
The PHDC CEO further explained that the hub would evolve into a modern industrial city, featuring a University of Ghana-grade hospital, hotels, and financial institutions. Drawing inspiration from Malaysia’s similar initiative, which created over 80,000 jobs in its first phase, he said Ghana’s Petroleum Hub was projected to directly employ between 500,000 and 800,000 people when fully operational.
“For us at PHDC, our excitement is the job creation potential. This aligns perfectly with President John Dramani Mahama’s 24-hour economy policy and the Big Push agenda to create jobs and stimulate industrial growth,” Dr Aubynn stated.
He expressed appreciation to the Minister of Energy and Green Transition, Mr John Jinapor, and the Minister of Finance, Dr Ato Forson, for their commitment to ensuring the project’s success.
Dr Aubynn noted that the Petroleum Hub, operating within the framework of the African Continental Free Trade Area (AfCFTA), would offer customs and trading advantages to investors, facilitating exports within the continent.
He revealed that the PHDC had already begun identifying and training Ghanaians, particularly residents of Jomoro and its environs, to equip them with the skills required for the hub’s operations. “We have a database of about 600 people who have expressed interest in working within the hub. Our priority is to train and employ people from Jomoro who will be directly affected by the project,” he said, adding that partnerships were underway with KNUST, Takoradi Technical University, UniMAT, and universities in Malaysia and Singapore.
Dr Aubynn expressed optimism that the Petroleum Hub, when completed within the next decade, would boost Ghana’s economy by over 70 per cent through petrochemical production and exports.
