Mr Emmanuel Bedzrah, Chairman of Parliament’s Energy Committee, has proposed a 10-pesewa deduction per liter of fuel from the Unified Petroleum Price Fund (UPPF).
That, he explained, would support the Petroleum Hub Development Corporation (PHDC) in sustaining the country’s strategic Petroleum Hub Project.
Mr Bedzrah who made the proposal on the Floor of Parliament on Friday, emphasized that the allocation would enhance the project’s long-term viability and operational effectiveness.
The Petroleum Hub Project aims to attract foreign direct investment, strengthen energy infrastructure, and expand domestic capacity in Ghana’s oil and gas sector. Despite its potential, the project has faced challenges, including funding gaps and land acquisition delays.
Mr Bedzrah’s proposal therefore sought to overcome these hurdles and revitalize progress on the initiative.
“Mr Speaker, the Select Committee on Energy proposed that 10 pesewas from the Margins within the Unified Petroleum Price Fund, currently administered by the NPA, be allocated directly to PHDC.
“This funding will serve three vital purposes sustaining PHDC’s operations to deliver on its mandate without interruption, supporting the payment of land compensation to project-affected persons and communities in line with legal and ethical obligations, and investing in the training and capacity building of Ghanaians,” he explained.
According to Mr Bedzrah, also the National Democratic Congress Member of Parliament for Ho West, the proposed funding would address three critical areas.
“Mr Speaker, sustaining PHDC’s operations to deliver on its mandate; supporting land compensation for project-affected communities and investing in training and capacity building for Ghanaians are crucial areas the proposed funding will help address,” he said.
He added that the suggested allocation would also enhance the long-term viability and operational effectiveness of the hub initiative, which would position Ghana as a leading petroleum and petrochemical hub in West Africa.
