The Petroleum Hub Development Corporation is spearheading a bold reform to reduce Ghana’s petroleum sector investment approval time from 492 days to just 30 days, in a move aimed at attracting more investors and boosting sector growth.
The announcement was made by the Corporation’s Chief Executive Officer, Dr Tony Aubynn, at its maiden inter-agency dialogue, which convened major regulatory stakeholders to discuss strategies for streamlining processes and enhancing Ghana’s investment appeal.
“If you want to establish a petrochemical plant in Ghana and go through all the regulatory agencies one by one, it will take about 492 days. Which investor will want to wait that long just to get an EPA or Water Commission permit?” Dr Aubynn questioned.
He emphasised that the Corporation is working toward an omnibus permit system that delivers all necessary approvals within 30 days, without compromising regulatory integrity.
“The idea is to bridge this gap. Let’s replace territorialism with teamwork and bureaucracy with breakthrough thinking,” Dr Aubynn urged stakeholders.
The inter-agency dialogue was held under the theme: “Building the Energy Hub of Choice: Unlocking Synergies for a Globally Competitive Petroleum and Petrochemical Hub.”
The initiative is part of a broader effort by the Corporation to position Ghana as a leading petroleum and petrochemical hub in West Africa by fostering collaboration and eliminating red tape that has historically deterred major investment.
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