Speaker of Parliament, Alban Bagbin, has made a strong case for national support of the Ghana Petroleum Hub project, urging both public institutions and private sector players to rally behind the Petroleum Hub Development Corporation (PHDC) as it leads the charge on one of Ghana’s most transformative economic initiatives.
Speaking at a strategic retreat for the Parliamentary Select Committee on Energy and officials from PHDC, the Speaker noted the scale and significance of the Petroleum Hub project, describing it as “one of the most critical tools for national development.”
“This initiative is a brilliant one, and PHDC cannot do it alone. They need critical partners and one of the most crucial partners in any democratic setup is Parliament. All government agencies must collaborate with Parliament to ensure the success of this project. Failure to do so will be to our collective detriment.” Bagbin emphasized.
As a member of the Parliamentary Energy Committee, Speaker Bagbin reaffirmed his full backing for the project, which is designed to position Ghana as a leading downstream oil and gas hub in West Africa. With its integrated development plan encompassing refining, petrochemicals, storage, and export logistics, the project is expected to drive industrial growth, create jobs, and enhance foreign exchange earnings.
“This is one of the most critical tools for national development. Ghana currently sits at the lower end of the middle-income ladder. We need bold, innovative initiatives like this to climb higher,” he stated.
Drawing parallels to global success stories, Bagbin referenced Singapore a small, resource-scarce city-state that has risen to become a global hub for oil refining, aviation, and finance.
“Look at Singapore a small city-state that doesn’t produce oil, yet it has become the world’s oil refining hub. Alongside that, they’ve developed thriving aviation and financial hubs,” he noted.
The Speaker’s comments come at a pivotal moment, as PHDC faces operational and financial headwinds in mobilizing investment and coordinating inter-agency collaboration for the hub’s rollout. The retreat provided a platform for Members of Parliament to engage directly with PHDC officials, raise critical questions, and align parliamentary oversight with national energy strategy.
Participants at the retreat pledged bipartisan support to accelerate policy frameworks and legislative backing necessary for the hub’s execution.
With the Petroleum Hub expected to significantly enhance Ghana’s position in the global energy value chain, Bagbin’s rallying cry marks a decisive call to action for a whole-of-government and private sector approach.
The Ghana Petroleum Hub, once realized, could become a flagship economic driver catalyzing industrialization, boosting export revenues, and cementing Ghana’s role as a strategic energy hub for the sub-region.
