Professor Omowumi O. Iledare, a renowned petroleum economist and Director of the Energy Information Division at the Centre for Energy Studies, has expressed concerns over the delay in implementing Ghana’s Petroleum Hub project, warning that the country risks being overtaken by other major energy projects if it fails to commence implementation promptly.

Speaking during a panel discussion at the ongoing Ghana Biennial International Summit and Exhibition (GH-BISE) on Thursday, May 21, 2026, Professor Iledare cautioned Ghana against further delays, predicting that the country’s ambition to become Africa’s energy hub would have received a significant boost if the Petroleum Hub initiative had been expedited ahead of the Dangote Refinery.

He lamented that such delays in developing critical energy infrastructure are among the main reasons Africa’s energy sector continues to lag behind other continents.

“Where was South Korea when Nkrumah was doing the unthinkable? I look at Tema Port, and I say this is where consistency comes in. If the government had acted swiftly on the Petroleum Hub when it was first initiated, it would have overtaken the Dangote Refinery,” he said.

The renowned oil and gas expert motioned that for Africa to realise the full benefit of its oil and gas resources, governments of various countries must rise up and provide huge support for investors and operators in the industry.

He cited that the example of Dangote Refinery as an initiative whose realisation was heavily influenced by the support from the Nigerian government.

“If Dangote were to be honest, he would acknowledge the important role played by the Nigerian government in his success,” he said.

On his part, the Deputy Chief Executive Officer for Operations and Technical at the Petroleum Hub Development Corporation (PHDC), Onasis Rosely, maintained that Ghana and the PHDC in particular have created sufficient incentives to guarantee attractive returns for investors.

Rosely also strongly argued that African countries must ensure they are not shortchanged in their efforts to attract investment for their hydrocarbon resources.

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About the Petroleum Hub Project

The Petroleum Hub Project will be located in Jomoro, in Ghana’s Western Region. The hub will comprise: Three refineries with a total capacity of 900,000 barrels per stream day (BPSD), five petrochemical plants with a minimum capacity of 90,000 BPSD. Storage tanks with a cumulative capacity of 10 million cubic meters and at least two jetties to support import and export activities.

The project is poised to position Ghana as a leading petroleum and petrochemical hub in Africa, enhancing regional energy security and economic integration.

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