President Nana Addo Dankwa Akufo-Addo has instructed the Ministry of Finance to disburse GH¢200 million as compensation to communities impacted by the initial phase of the Jomoro Petroleum Hub Development project.This is because some landowners, particularly those represented by the Coalition of Concerned Nzema People, have expressed dissatisfaction with the government's approach to land acquisition, citing issues of inadequate compensation and procedural lapses.The project, which is estimated to sit on twenty thousand acres of land on several communities in the Jomoro District, will have three refineries, five petrochemical plants, storage tanks, jetties and port infrastructure.It seeks to be the leading integrated petroleum and petrochemical complex to add value to the upstream and downstream oil and gas value chain in Africa.

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It will also have ancillary infrastructure for transportation, settlement and utilities among others.

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This follows the signing of a twelve-billion-dollar agreement between the Petroleum Hub Development Corporation, PHDC and the TCP-UIC Consortium in Accra.This directive was announced at the sod-cutting ceremony in Nawuli, within the Jomoro Municipality of the Western Region on August 2024.The President highlighted the strategic importance of the Jomoro Petroleum Hub in addressing challenges within Ghana’s energy sector.He envisions the hub as a leading integrated petroleum complex in Africa, enhancing the oil and gas value chain from both upstream and downstream perspectives.It is poised to revolutionize the petrochemical industry across the continent, with projections indicating that it could generate $1.56 billion in export taxes by 2030, boost Ghana's GDP by 70%, and create over 780,000 jobs.In response, President Akufo-Addo reassured the affected communities of the government's commitment to addressing their concerns, stating that the initial GH¢200 million compensation is a step towards resolving these issues."The chiefs and people of Jomoro have generously offered their lands for the development of these vital projects. In recognition of their contribution, I have instructed the Ministry of Finance to release an initial GH¢200 million to commence the payment of compensation for the affected lands," he stated.

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