The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has described the Sentuo Oil Refinery as a strategic national asset that will strengthen Ghana’s industrial base, boost domestic refining capacity, and reduce the country’s dependence on imported petroleum products.
Speaking at the refinery’s first-ever Jubilee Crude Oil Berthing Ceremony in Tema, the minister said the facility represents a significant milestone in Ghana’s industrial transformation agenda and aligns with the government’s broader economic reset programme.
According to her, the arrival of Jubilee crude oil at the refinery marks a historic moment for Ghana’s petroleum sector, as the country moves beyond merely exporting crude oil to adding value through local refining and industrial processing.
“There are moments in a nation’s life that deserve to be marked with gratitude, and today is one of those moments. For the first time in Ghana’s history, crude oil from the Jubilee Field has arrived at a Ghanaian refinery for processing. This is a significant step in our journey towards industrialisation and economic self-sufficiency,” she stated.
The minister noted that for years, Ghana has exported crude oil only to import refined petroleum products at prices determined by external market forces. She said the development would help retain more value within the local economy while creating opportunities across multiple sectors.
“Every barrel refined here creates linkages to transportation, agriculture, manufacturing and infrastructure. It supports jobs, strengthens businesses and improves livelihoods for Ghanaian families,” she said.
Mrs. Ofosu-Adjare commended the management of Sentuo Oil Refinery for its commitment to investing in Ghana at a time when many investors remained cautious about large-scale industrial projects.
“We thank Sentuo for its confidence in Ghana. Nearly two billion dollars has been invested in this country at a time when many looked away. Your conviction that Africa must stop exporting raw materials and begin creating value from its own resources is not just a business philosophy; it is a patriotic act for the continent,” she said.