President Nana Addo Dankwa Akufo-Addo has instructed the Ministry of Finance to allocate GH¢200 million for compensating communities impacted by the initial phase of the Jomoro Petroleum Hub Development project, as reported by 3news.com.This directive was announced during the groundbreaking ceremony held at Nawuli in the Jomoro Municipality of the Western Region.

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During his address, President Akufo-Addo highlighted the importance of the project in tackling the challenges facing the nation's energy sector.He expressed optimism that the Jomoro Petroleum Hub would emerge as a leading integrated petroleum complex in Africa, significantly enhancing both the upstream and downstream segments of the oil and gas value chain.

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The project, covering 20,000 acres, will include refineries, petrochemical plants, storage tanks, and other essential infrastructure.Its goal is to revolutionize the petrochemical industry across Africa, with projections of generating $1.56 billion in export taxes by 2030, boosting Ghana's GDP by 70%, and creating over 780,000 jobs.

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However, some unrest persists among landowners, especially those represented by the Coalition of Concerned Nzema People.They have expressed dissatisfaction with the government's approach to land acquisition, citing insufficient compensation and lack of adherence to proper procedures, according to the report.In response, President Akufo-Addo reassured the affected communities of the government's commitment to resolving their concerns.

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"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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