By: Mabel Adorkor Annang
Government has committed to pay 1.2 billion Cedis compensation to landowners whose lands have been acquired for the construction of Ghana’s Petroleum Hub in Jomoro, within the Western Nzema Traditional Area.
In an interview with Energy News, the Chief Executive Officer of the Petroleum Hub Development Corporation, Dr. Toni Aubynn, assured the landowners that the compensation is a top priority and will be disbursed in four tranches over a four-year period.
The ambitious Petroleum Hub project, utilizing 20,000 acres of land, aims to position Ghana and the West African sub region as a leading provider of reliable, affordable, and environmentally sustainable energy.
The Hub is expected to play a crucial role in meeting Ghana’s growing energy needs and fostering broader development in Africa.
The owners of the acquired land have been demanding their compensation. In an interview with Energy News, the CEO of the Petroleum Hub Development Corporation, PHDC, Dr. Toni Aubynn said government is determined to secure the necessary funding for the compensation.
“Government is generously looking for resources. In fact, we’ve been tasked to look for the resources. The resources may come from government directly or we’ll use other means to attract the resource to pay for the land that has been taken. There are many ways to do that. We can either look for something to securitize the payment so that slowly we’ll pay for it. Some private sector entities have indicated their interest to provide the resources to pay as government then addresses the refund later on”. Dr. Aubynn intimated.
Dr. Aubynn explained that settling the compensation and acquiring titles to the land are essential steps to bolster investor confidence in the project.
Dr. Aubynn added that “the reason why compensation is very important is that investors, lots of whom are ready to come in, would want to be sure that they have a clean title to land and that there’s secured land when they bring their investment. It’s not a time for litigation. Investors are generally cowards. They will take their investments to where they feel safe”.
The Petroleum Hub project is anticipated to bring significant economic benefits and position Ghana as a key player in the global energy market.
