Accra, Ghana — Ghana has taken a decisive step toward establishing itself as West Africa’s petroleum hub with the launch of the $12 billion Jomoro Petroleum Project, the first phase of the country’s multi-billion-dollar Petroleum Hub initiative.
The project, situated in the Jomoro Municipal area of the Western Region, officially broke ground in August 2024. It is being developed as a large-scale, private-sector-led venture and represents one of the most ambitious energy infrastructure investments in Ghana’s history.
The first phase comprises the construction of a 300,000-barrel-per-day oil refinery, an integrated petrochemical plant, and extensive port and storage facilities. Together, these installations are designed to reduce regional dependence on imported fuel, strengthen energy security, and provide a foundation for downstream industrial growth.
Authorities say the hub will not only position Ghana as a central player in West Africa’s petroleum trade but also stimulate broader economic activity through industrial linkages, technology transfer, and new export opportunities.
The Jomoro Petroleum Project is being executed by a consortium that includes Touchstone Capital Group Holdings and UIC Energy Ghana. It is part of a larger development scheme estimated at $60 billion, to be rolled out in phases over the coming years.
Government officials and industry stakeholders have highlighted the project’s potential to generate thousands of direct and indirect jobs, increase foreign exchange earnings, and make Ghana a strategic supply point for petroleum products across the subregion.
If fully realized, the Petroleum Hub is expected to transform the Western Region into an energy and industrial corridor, anchoring Ghana’s long-term growth and strengthening its role within Africa’s evolving energy landscape.
