The Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), Dr Toni Aubynn, has presented the Petroleum Hub project as the country’s 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 country’s 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 country’s Gross Domestic Product (GDP) by 70% and create more than 700,000 jobs.
“The 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 country’s GDP by 70%.”
Addressing the sub-theme “Promoting Industrialisation, Revitalisation, Support, and Transformation,” Dr Aubynn stressed the urgent need for Ghana to transition from a consumption-driven economy to one anchored in production, value addition, and exports.
“An 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.
He positioned the Petroleum Hub Project as a transformational national initiative capable of reversing Ghana’s 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 government’s 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 Ghana’s 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.
