• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, October 14, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Concerns Intensify Over $12 Billion Petroleum Hub Project in Jomoro

Stephen M.Cby Stephen M.C
June 25, 2024
Reading Time: 4 mins read
Stephen M.Cby Stephen M.C
in Extractives/Energy
0
Concerns Intensify Over $12 Billion Petroleum Hub Project in Jomoro

The Coalition of Concerned Nzema People has expressed significant concerns about the recent Memorandum of Understanding (MoU) signed for the $12 billion Petroleum Hub project in Jomoro.

This ambitious project, which plans to span 20,000 acres, has sparked anxiety among the local community, including leaders such as Awulaemɔ, Tumivolɛ, Chiefs, the Member of Parliament, the Municipal Chief Executive, and the leadership of the Petroleum Hub Development Corporation (PHDC). These leaders have been vocal since 2021 about their apprehensions regarding the extensive land acquisition required for the project.

The coalition has clarified that their stance is not anti-development. They recognize the economic and social potential of the land, which has historically been a source of substantial benefits through coconut plantations, cash crops, and other natural resources. Additionally, the land contains significant mineral deposits, including gold, clinker, and crude oil. However, they argue that the land and its owners often become an afterthought in large-scale development projects, emphasizing that the land should be the most critical and costly consideration.

RelatedPosts

Ghana Moves Closer to Ethical Gold Trade with Track-and-Trace System 

Sustainable Mining: British High Commission Hosts “Galamsey Speaker Series”

TOR’s Turnaround Maintenance 98% Complete, Operations Set to Resume 

The coalition’s concerns are rooted in a desire to ensure that the local community benefits directly and sustainably from any development on their land. They propose that the land should not be sold or compulsorily acquired by the government but rather leased with provisions for generational compensation. This approach would ensure long-term benefits for future generations and prevent the loss of valuable community assets.

Coalition Demands A Minimum of 25% Equity Interest

Moreover, the coalition demands a minimum of 25% equity interest in the project. This would ensure that local landowners receive a direct share of the profits and have a vested interest in the project’s success. By having a significant stake in the project, the community would be more likely to support and actively participate in its development, fostering a sense of ownership and accountability.

To prevent speculative land grabs, the coalition proposes a phased land acquisition strategy. The initial phase would involve the allocation of 5,000 acres, with further land being allocated based on the successful development of this initial phase. This approach would ensure that land is used efficiently and that development progresses in a controlled and sustainable manner.

ADVERTISEMENT

Recognizing the potential risks associated with such a large project, the coalition also calls for the establishment of essential amenities. These would include roads, hospitals, and training facilities, which would help the local population take advantage of the opportunities provided by the Petroleum Hub. By improving infrastructure and access to services, the project could significantly enhance the quality of life for local residents and support broader community development.

Job creation is another critical concern for the coalition. They demand a 30% job quota for residents of the core affected communities to ensure that local people benefit directly from the employment opportunities created by the project. This measure would help mitigate the potential negative impacts of rising living costs associated with the project and ensure that the benefits of development are equitably distributed.

Quota for Local Representation

In addition to job opportunities, the coalition insists on a quota for local representation in senior leadership positions within the project. This would ensure continuous local involvement in decision-making processes and help align the project’s goals with the community’s needs and aspirations.

Environmental protection is a significant concern for the coalition, given the region’s natural beauty and ecological importance. They insist on concrete measures to protect local rivers, streams, the sea, plantations, and forests from potential oil spills and other environmental hazards. By prioritizing environmental safeguards, the project can help preserve the region’s natural resources and ensure sustainable development.

The coalition has praised the efforts of their leaders in advocating for these conditions. However, they have made it clear that no land will be allocated for the Petroleum Hub unless their demands are integrated into the project’s agreements. The coalition’s statement, signed by its representatives on June 25, 2024, underscores their determination to protect their land and ensure that any development project benefits their community equitably and sustainably.

While the $12 billion Petroleum Hub project holds significant promise for economic development, it must address the coalition’s comprehensive demands to proceed. By addressing these concerns, the project can move forward in a way that benefits both the local community and the broader economy.

READ ALSO: BoG Rebuts Claims of $8bn Loss Through Remittances

Tags: Equity InterestJomoroPetroleum Hub Development Corporation (PHDC)petroleum hub project
Please login to join discussion
Previous Post

Housing Minister Launches Nima-Paloma Storm Drains Reconstruction

Next Post

Davido Sheds Tears of Joy as Chioma’s Father Blesses Union

Subscription Form

Related Posts

Rising Gold Prices Power Ghana’s GoldBod Economic Strategy 
Extractives/Energy

Ghana Moves Closer to Ethical Gold Trade with Track-and-Trace System 

October 14, 2025
Sustainable Mining: British High Commission Hosts “Galamsey Speaker Series”
Extractives/Energy

Sustainable Mining: British High Commission Hosts “Galamsey Speaker Series”

October 13, 2025
Tema Oil Refinery (TOR)
Extractives/Energy

TOR’s Turnaround Maintenance 98% Complete, Operations Set to Resume 

October 13, 2025
Oil Prices Rebound Amid Demand Surge, Geopolitical Tensions
Extractives/Energy

Oil Prices Rebound from U.S.-China Trade Tensions 

October 13, 2025
Mr. Benjamin Nsiah, the Executive Director of the Centre for Environmental Management and Sustainable Energy
Extractives/Energy

Government Urged to Restore PIAC’s Full Budgetary Allocation 

October 13, 2025
Mining consultant Ing. Wisdom Edem Gomashie
Extractives/Energy

Mining Consultant Challenges GoldBod CEO’s Claims on Gold Purchases 

October 12, 2025
MzGee Opens up on Sabotage, Body Shaming
Entertainment

Broadcaster Condemns Silence Surrounding School Sexual Molestation

by Esther Korantemaa OffeiOctober 14, 2025
Zambian Delegation Explores Ghana’s Thriving Mining Sector
Extractives/Energy

Zambian Delegation Explores Ghana’s Thriving Mining Sector

by Bless Banir YarayeOctober 14, 2025
TUC’s Dr. Otoo Accuses Government of Betrayal on Galamsey Fight
General News

TUC’s Dr. Otoo Accuses Government of Betrayal on Galamsey Fight

by Silas Kafui AssemOctober 14, 2025
Qatari Emir Lauds Outcomes Of Sharm el-Sheikh Peace Summit
Asia

Qatari Emir Lauds Outcomes Of Sharm el-Sheikh Peace Summit

by Comfort AmpomaaOctober 14, 2025
Rising Gold Prices Power Ghana’s GoldBod Economic Strategy 
Extractives/Energy

Ghana Moves Closer to Ethical Gold Trade with Track-and-Trace System 

by Prince AgyapongOctober 14, 2025
Chairman of the National Development Planning Commission, Dr Nii Moi Thompson
General News

Uncompleted Projects Costing Ghana Big – NDPC Chair Demands Urgent Fix

by Evans Junior OwuOctober 14, 2025
MzGee Opens up on Sabotage, Body Shaming
Zambian Delegation Explores Ghana’s Thriving Mining Sector
TUC’s Dr. Otoo Accuses Government of Betrayal on Galamsey Fight
Qatari Emir Lauds Outcomes Of Sharm el-Sheikh Peace Summit
Rising Gold Prices Power Ghana’s GoldBod Economic Strategy 
Chairman of the National Development Planning Commission, Dr Nii Moi Thompson

Recent News

MzGee Opens up on Sabotage, Body Shaming

Broadcaster Condemns Silence Surrounding School Sexual Molestation

October 14, 2025
Zambian Delegation Explores Ghana’s Thriving Mining Sector

Zambian Delegation Explores Ghana’s Thriving Mining Sector

October 14, 2025
TUC’s Dr. Otoo Accuses Government of Betrayal on Galamsey Fight

TUC’s Dr. Otoo Accuses Government of Betrayal on Galamsey Fight

October 14, 2025
Qatari Emir Lauds Outcomes Of Sharm el-Sheikh Peace Summit

Qatari Emir Lauds Outcomes Of Sharm el-Sheikh Peace Summit

October 14, 2025
Rising Gold Prices Power Ghana’s GoldBod Economic Strategy 

Ghana Moves Closer to Ethical Gold Trade with Track-and-Trace System 

October 14, 2025
Chairman of the National Development Planning Commission, Dr Nii Moi Thompson

Uncompleted Projects Costing Ghana Big – NDPC Chair Demands Urgent Fix

October 14, 2025
Subscription Form
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.