Tema: President John Dramani Mahama has initiated the construction of Phase II of the Sentuo Oil Refinery, marking a significant advancement in Ghana's industrialisation efforts and bolstering the nation's energy security.
According to Ghana Web, the expansion will enhance the refinery's processing capacity from 40,000 barrels per day to 100,000 barrels per day upon completion. This development is anticipated to create thousands of jobs and elevate local value addition in the petroleum sector.
During the sod-cutting ceremony, President Mahama reiterated his administration's dedication to fostering a robust economy through industrial growth rather than relying on raw material exports. He underscored the importance of the expansion in achieving a resilient and self-reliant economy.
President Mahama emphasized Ghana's long-term strategy to localize the processing of its natural resources, thereby maximizing economic benefits and generating sustainable employment. He highlighted the country's vision to transition from exporting raw materials to becoming a nation that processes and manufactures locally.
Additionally, the President remarked on the project's potential to generate numerous jobs during and post-construction, while also enhancing Ghana's energy independence. The Sentuo Refinery expansion aims to decrease the nation's dependence on imported refined petroleum products and solidify its role in the sub-regional energy industry.