President Nana Akufo-Addo of Ghana has inaugurated the development of a colossal $12 billion oil refinery, aiming to bolster Ghana’s role as a key petroleum trade hub within the area. Many view the initiative as a significant step forward for national progress, despite it having ignited debates and uncertainties among numerous individuals. Ghana, nestled in West Africa and known for its cocoa production, ventured into oil extraction in 2010. Presently, according to Reuters, it extracts roughly 132,000 barrels of oil and 325 million standard cubic feet of gas each day.
During his speech at the Jomoro project location in the southwest, President Akufo-Addo expressed that the administration views this initiative as pivotal, marking a transformative step for the nation’s progress. Beyond the extraction and refining of crude, the initiative will also include petrochemical facilities and various associated endeavors.
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