President Nana Akufo-Addo has initiated the construction of a 300,000 barrel-per-day oil refinery in Ghana, aiming to establish the nation as a regional petroleum hub. The project faces criticism over its viability and social impact.
Bollywood Fever: Ghanaian President Nana Akufo-Addo has officially launched the construction of a 300,000 barrel-per-day oil refinery in Jomoro, a southwestern city in Ghana.
The ambitious project, estimated at $12 billion for its first phase, is part of the government’s vision to transform Ghana into the petroleum hub of West Africa.
However, the initiative has sparked significant controversy and criticism.
Ghana, which became an oil producer in 2010, currently has an output of approximately 132,000 barrels of crude oil per day and 325 million standard cubic feet of natural gas.
Speaking at the groundbreaking ceremony, President Akufo-Addo described the refinery as a “cornerstone of our nation’s development,” and emphasized its potential to significantly boost the country’s economic growth.
The refinery project, which will also include petrochemical plants, is being funded and constructed by a consortium that includes Touchstone Capital Group Holdings, UIC Energy Ghana, China Wuhan Engineering Co., and China Construction Third Engineering Bureau Co.
The goal is to complete the first phase and begin operations, ultimately positioning Ghana as a major supplier of refined petroleum products across West Africa, a region that currently consumes around 800,000 barrels per day, with almost 90% of that being imported.
Despite the government’s optimism, the project has faced strong opposition. Critics, including Bright Simons, Vice President of Accra-based think tank IMANI Africa, have raised concerns about the viability of the consortium behind the refinery.
Simons argues that the project lacks a “bankable business plan” and views the initiative as a speculative move to acquire land cheaply.
Additionally, there has been local opposition from residents living on the proposed 20,000-acre site for the refinery.
Some community members have protested, calling for the project’s footprint to be reduced to 5,000 acres. Oliver Barker-Vormawor, a senior partner at the law firm representing some of the affected farmer cooperatives, has voiced concerns over the social and environmental impact of the project.
He warned that the displacement of farmers and unresolved issues regarding land ownership and community rights could lead to significant local unrest.
In response to these concerns, the government has dismissed the objections, pointing to petitions from other residents who support the refinery’s construction.
The administration remains committed to proceeding with the project, viewing it as a critical step in Ghana’s economic development and regional integration in the petroleum sector.
As the refinery project moves forward, it remains to be seen how the government will address the concerns of critics and affected communities, and whether the ambitious initiative will achieve its intended goals of transforming Ghana into a leading petroleum hub in West Africa.
Also Read Other Articles, Israeli Military Recovers Bodies of Six Hostages Taken by Hamas in Gaza
St. Louis Schools Face Chaos as Bus Vendors Pull Out Last Minute, Leaving Families Scrambling
China to Strengthen Its $406 Billion Social Security Fund Amid Rapid Aging Population
