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DPM tells Grand Bahamians to focus on the benefits new oil refinery project will have for GB

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#Bahamas, February 23, 2018 – Grand Bahama – Deputy Prime Minister, Minister of Finance and Member of Parliament for East Grand Bahama, the Hon. K. Peter Turnquest said that while he’s aware of all the talk among the public about the $4 billion oil refinery project by Oban Energies, he urged Bahamians – particularly Grand Bahamians – to focus on the benefits such a project will bring to Grand Bahama.

“There’s more to the story than what you see,” Minister Turnquest told participants of the 20th Annual Grand Bahama Business Outlook, which took place on Thursday, February 22, 2018 at Grand Lucayan resort.

“You will be hearing more about that as the project proceeds.  Today, as a matter of fact, the group is in East Grand Bahama beginning the final stages of their Environmental Impact Assessment.  And we will continue to see activity, going forward through to the shovels in the ground.

“We have confidence that this project is going to go forward, that the funding is available, that the environmental concerns will be addressed and that at the end of the day, we will have a project that will be a catalyst for the development of Grand Bahama as a whole, east Grand Bahama in particular.”

Minister Turnquest reminded Grand Bahamians that what helped to bring about the “glory days” of Grand Bahama, when the economy was on the incline, was the industrial sector.

“So we have an opportunity and we have to see it through. Again, in the Heads of Agreement, we have requirements and everything is contingent on those requirements,” the Minister Pointed out. “As the Prime Minister has indicated, that Heads of Agreement will be Tabled and everyone will be able to see what it contains – the benefit and the risk to us as an island, as a country.”

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As the Representative for Grand Bahama, Minister Turnquest said that he’s pleased that there are a number of prospective developments slated for his constituency, including the Oban Energies Oil refinery in East Grand Bahama.

He said that a number of projects have been slated for Grand Bahama, including the purchase and development of the former Ginn property in West Grand Bahama. He also mentioned the purchase and eventual refurbishment of the Grand Lucayan resort by the Wynn Group.

“The re-opening of this property is absolutely vital to the city of Freeport, particularly the Lucayan strip, which is a major contributor to the Grand Bahama economy,” added Minister Turnquest.

“I know that there was some rumor that because Mr. Wynn was not here to speak at this Business Outlook, that there was some trouble with the deal. I just got off the phone with Mr. Wynn before I came into this room and I assure you that is not the case at all. There was some miscommunication and he is actually in the Dominican Republic, opening a property there.

“But this deal is very much on track and we expect to have this wrapped up relatively soon; the brands that are associated with their proposal are very well known brands to us and they will give Grand Bahama the kind of variety of offering that we have been missing.”

Interestingly enough, Minister Turnquest said that Grand Bahama continues to attract interest with respect to the tourism industry.

“As the Minister of State said, 2018 is poised to be a very significant watershed year for us,” added Minister Turnquest.  “Between the government and our partners at the Grand Bahama Port Authority, we have to lock arms on these opportunities and ensure that we provide the best opportunity for these projects to become successful.”

Drawing on a farming analogy, the Deputy Prime Minister told the audience that when one is planting, you don’t see results right away; it takes a while and in the meantime, the seed has to be watered and nurtured before it begins to spring up.

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“That’s the phase where we’re at,” said Minister Turnquest. “After years of going backwards, we’re now starting to go forward and we must celebrate that.

“Prospects for the economy in 2018 are for furthering strengthening of activities, with growth estimated at 2.5 percent.  Conditions in the Labor market are also consequently set to improve.  These developments will be underpinned by the completion of the Baha Mar phased opening and by various foreign investment related projects, which have been foreshadowed by the Prime Minister.

“As well, we expect the growth of both the tourism sector and the national economy to be favorably impacted by stronger projected growth in the United States, our major trading partner.  The increase in investor consumer confidence in the United States bodes well for continued growth in tourist related travel and investment interest in The Bahamas.”

Minister Turnquest said that the government is on track to bring the country’s financial house in order and that the Government remains on track to meet its budgetary target by year’s end.

“The Government anticipates continued growth in the economy, which will be very much associated with improvements that we expect to happen here in Grand Bahama. As was pointed out by the Minister of State for Grand Bahama, various projects are being negotiated and/or are already in progress.

“This signals a significant spike in the Grand Bahama economy and, in the words of the Honourable Prime Minister, what’s good for Grand Bahama, is good for The Bahamas.”

By: Andrew Coakley (BIS)

 

 

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New Manifestos Released as Bahamas Heads to Historic May 12 Vote

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The Bahamas, April 14, 2026 – With the 2026 Bahamian general election set for May 12, the country’s major political parties have now formally placed their plans before the electorate, offering competing visions for governance, growth and relief.

The governing Progressive Liberal Party (PLP), led by Philip Davis, launched its “Blueprint for Progress 2026” on April 8, 2026, outlining a 46-page plan focused on long-term development and systems reform. The document places heavy emphasis on energy transition, digital government, workforce training and food security, positioning the party as one seeking continuity following its first term. The full plan is publicly available online through official PLP platforms for voters to review.

Just days later, on Sunday, April 12, the opposition Free National Movement (FNM), under Michael Pintard, unveiled its 2026 Manifesto at a major event in Nassau. Spanning 54 pages, the document centers on cost-of-living relief, tax reform, healthcare expansion and housing, offering what the party describes as a more immediate response to economic pressures facing Bahamian families. The FNM has also made its manifesto accessible online.

Beyond the two major parties, the Coalition of Independents (COI) had already entered the policy space earlier, formally unveiling its long-range Vision 2030 framework on Saturday, March 1, 2025, at the Fusion Superplex in Nassau during a packed national launch led by party leader Lincoln Bain. That framework has since been complemented by a 100-day action plan released in late March/early April 2026, adding a short-term policy layer to its long-range proposals.

These policy rollouts come as the country prepares for a pivotal vote, with the Parliamentary Registration Department confirming a voters’ register of approximately 203,000 eligible voters, one of the largest in the nation’s history. Key dates are now set, with Nomination Day on April 16, followed by advance polls on April 30, ahead of General Election Day on May 12.

With platforms now in the public domain and the timeline locked in, the focus shifts squarely to the electorate—who must now weigh the promises, examine the plans and decide the country’s direction at the polls.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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From Concept to Approval: What a 2019 Water Security Plan Now Means for Bahamians

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The Bahamas, April 14, 2026 – At its core, the $65 million water security project is designed to strengthen the reliability, safety and resilience of the water supply across The Bahamas.

If implemented as planned, the investment is expected to improve water quality, reduce contamination risks and support public health, while increasing supply reliability and limiting service disruptions during droughts or system failures. The project also aims to expand and upgrade infrastructure, including wellfields, pumping stations and storage capacity, and to protect freshwater resources from saltwater intrusion—an increasing threat for low-lying islands. In practical terms, that could mean cleaner, more consistent and more dependable access to water for residents across the country.

The project was first conceptualised in 2019 under the previous administration, when a proposal was submitted to the Green Climate Fund to strengthen the resilience of the country’s water systems. That early work came just months before Hurricane Dorian exposed the vulnerability of national infrastructure, including critical water and sanitation systems, particularly in the northern Bahamas.

The initial phase focused on developing the concept, identifying priority areas and engaging regional and international partners, including the Caribbean Development Bank, to support the design and preparation of a full funding proposal.

Following the change in government in 2021, the project advanced into its most technical and demanding stages. The current administration oversaw the completion of key requirements, including feasibility studies, environmental and social assessments, and detailed financing negotiations with international partners—steps necessary to move the proposal from concept to approval.

That multi-year process has now culminated in approval of a $65 million financing package, combining grant funding with concessional loans to support long-term upgrades to the country’s water infrastructure.

While the project brings significant international support, it is not entirely free money. The package is structured as a blended financing arrangement, combining grant funding with concessional loans—meaning a portion of the funding will ultimately need to be repaid. Based on information released by the Caribbean Development Bank, approximately $25 million of the total package is tied to loan financing, with the remaining portion provided as grant support.

Concessional loans typically carry more favourable terms than commercial borrowing, including lower interest rates and longer repayment periods. However, they still represent debt obligations that will be borne over time.

Notably, detailed terms of the loan components—including interest rates, repayment schedules and any associated conditions—were not disclosed in the initial announcement issued by the Office of the Prime Minister (Bahamas). Those details are expected to be outlined in formal financing agreements, but have not yet been made public.

For Bahamians, the project represents both investment and obligation. While the grant funding provides a significant boost to infrastructure development, the loan component adds to the country’s long-term financial commitments—making transparency around terms and implementation timelines especially important.

While the approval marks a significant milestone, the timeline for delivery remains a critical factor. Based on information available from project partners, implementation is not expected to begin immediately. The initiative is anticipated to move into its execution phase later in 2026, following finalisation of financing agreements and completion of preparatory requirements.

From there, the project is projected to unfold over several years, with estimates suggesting a multi-year implementation period of up to seven years to fully deliver the planned upgrades to water infrastructure across The Bahamas.

This means that while the funding has now been approved, the benefits will be realised gradually rather than all at once. A definitive completion date has not been publicly outlined, and detailed timelines tied to specific islands or phases of work have yet to be disclosed.

For Bahamians, the question now shifts from approval to execution—when funds are drawn down, when construction begins, and how consistently the project moves from plan to delivery.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Fuel Pain at The Pump: Global Tensions Drive Prices Up as Bahamians Feel the Squeeze

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NASSAU, Bahamas — What should be a simple five-minute drive is fast becoming an expensive, hour-long ordeal, as rising fuel prices collide with worsening traffic congestion across New Providence.

As of early April 2026, gasoline prices across The Bahamas have climbed sharply, with motorists now paying an estimated $5.50 to over $6.50 per gallon, depending on the station and grade. The increases, seen at major retailers including Esso, Rubis and Shell, reflect a volatile global oil market driven by escalating geopolitical tensions.

The latest spike — in some cases jumping more than 50 cents per gallon within days — is being driven by uncertainty surrounding escalating tensions involving Iran. U.S. President Donald Trump has issued a direct ultimatum, warning that the United States could launch aggressive strikes on Iranian infrastructure, including power plants and key facilities, if demands are not met. While he has also expressed hope for a swift resolution, the threat of rapid escalation is already rattling global oil markets — and The Bahamas, heavily dependent on imported fuel, is feeling the impact almost immediately.

At the pumps, the frustration is real.

Drivers are now paying significantly more just to sit in traffic. Commutes that once took minutes are stretching into hour-long crawls, burning fuel with little movement and compounding the financial strain. For many residents, the issue isn’t just the price per gallon — it’s how quickly that gallon disappears.

Industry players are also bracing for impact. Higher diesel prices are expected to ripple across key sectors, including trucking, construction, and shipping — all of which ultimately feed into the cost of goods and services. In short, this is not just a fuel story; it’s an inflation story in the making.

Despite the surge, the Bahamas Petroleum Retailers Association has moved to calm fears, confirming that there is no fuel shortage. Supply remains stable, but consumers are being urged to adjust behavior — from maintaining proper tyre pressure to considering carpooling — small measures that could stretch every dollar a bit further.

Retailers, however, are not offering much comfort on price relief. While fluctuations are expected, insiders say the days of sudden price drops are unlikely in the immediate term. The “shock” increases may level off, but a meaningful decline hinges on global stability — something that currently feels out of reach.

For Bahamians, the reality is tightening: higher fuel costs, longer commutes, and a growing sense that relief isn’t coming anytime soon.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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