President John Dramani Mahama has emphasised that Ghana’s development strategy is centered on moving beyond the export of raw materials to building a resilient economy that processes, manufactures, and creates value within its borders.
He said this on Thursday, June 25 when he cut the sod for Phase II of the Sentuo Oil Refinery.
He reaffirmed the government’s commitment to industrialisation, energy security, and value addition.
The expansion will increase the refinery’s processing capacity from 40,000 to 100,000 barrels per day, strengthen Ghana’s energy sector, create thousands of jobs, and support the nation’s broader economic transformation agenda.
The project is expected to boost employment at the refinery upon completion, while contributing significantly to the country’s energy independence and industrial growth.
President Mahama further said that the global energy landscape continues to face significant challenges. Geopolitical tensions, supply chain disruptions, fluctuating crude oil prices, and growing uncertainty in international markets have underscored the importance of energy security for every nation.
Against this backdrop, he said, Sentuo Oil Refinery’s decision to expand its refining capacity by 60,000 barrels per day, which will raise the total capacity from 40,000 to 100,000 barrels per day is both bold and strategic.
He said that this expansion is not merely an investment in infrastructure, it is an investment in Ghana’s future, it is an investment in the energy security, in the industrial growth, in the job creation and economic resilience.
By increasing domestic refining capacity, we reduce our dependence on imported refined petroleum products.
“We strengthen the reliability of our oil supply chains. We retain more value within our economy and create opportunities for Ghanaian businesses and Ghanaian workers.
“More importantly, this project positions Ghana to meet growing domestic and regional energy demand while enhancing our competitiveness within the West African sub-region. This milestone comes at a particularly important moment in our national journey,” he said.
