The Speaker of Parliament, Alban Sumana Kingsford Bagbin, has strongly endorsed the Petroleum Hub project, describing it as a vital instrument for the nation’s development.
Delivering a speech at a strategic retreat between the Petroleum Hub Development Corporation (PHDC) and the Parliamentary Select Committee on Energy on Saturday, 7 June 2025, Mr Bagbin emphasised that addressing Ghana’s energy challenges requires critical and strategic infrastructure, such as the Petroleum Hub.
Citing Singapore as a model country that has successfully leveraged hub projects to drive national growth, Speaker Bagbin outlined how Ghana could use the Petroleum Hub as a springboard to transition from a lower-middle-income to an upper-middle-income economy.
“This is one of the most critical tools for this country’s development. We are a middle-income country, but at its lowest level. We need some of these cutting-edge interventions to advance. Singapore is just a city-state, yet one of the key tools they used in their development is this. They don’t produce oil, but the world’s oil refining hub is in Singapore. They also host aviation and financial hubs,” he stated.
Speaker Bagbin acknowledged the challenges facing the PHDC and assured the Corporation of Parliament of its unwavering support, pledging to support its efforts and ensure its success.
He further stressed that Parliament, in fulfilling its democratic mandate, would deepen collaboration with all state agencies to help them achieve their objectives.
“This initiative is an excellent one, and the PHDC cannot be left to go it alone. They need strategic partners, and one of the most critical partners in democratic development is Parliament.
All government agencies must work closely with Parliament on the journey to success. If you don’t, you’ll have only yourselves to blame,” he warned.
The PHDC’s engagement with Members of Parliament was described as fruitful, with MPs actively participating, posing questions, and pledging their full support.
The PHDC was established under the Petroleum Hub Development Corporation Act, 2020 (Act 1053) to spearhead the creation of a world-class petroleum and petrochemical hub in Ghana. The project is designed to meet the energy needs of the West African sub-region and the wider continent.
The PHDC seeks to foster innovation, research, and strategic infrastructure development in response to Africa’s growing demand for petroleum products and services.
By creating an integrated petroleum value chain, the Corporation aims to unlock economic opportunities, promote industrial growth, and generate sustainable employment for Ghanaians and other Africans.
