President John Dramani Mahama has directed the Minister for Energy and Green Transition to collaborate with the Board and management of the Tema Oil Refinery (TOR) to develop a strategic plan to expand the refinery’s capacity to process 100,000 barrels of crude oil per day.
Speaking at the commissioning of the refurbished Crude Distillation Unit (CDU) at TOR, President Mahama said the government’s ambition goes beyond restoring the refinery’s operations.
He noted that the goal is to transform TOR into a competitive, efficient and commercially viable institution capable of supporting Ghana’s industrialisation agenda.
The President also announced plans to restructure the refinery to eliminate political interference in its operations, stressing that strong corporate governance and operational independence are critical to ensuring TOR’s long-term sustainability and success.
In addition, President Mahama revealed that businesses participating in the government’s 24-hour economy initiative will receive a range of incentives to stimulate industrial growth and employment. These include tax exemptions, reduced electricity tariffs, and duty-free importation of capital goods to encourage investment and expand production.