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African Countries Must Oppose Measures at COP27 that Prevents Africa from Making Full Use of its Fossil Fuels (By NJ Ayuk)

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COP27

The world’s wealthy nations’ green agenda ignores Africa – or at least, it dismisses our unique needs, priorities and challenges

JOHANNESBURG, South Africa, November 4, 2022/APO Group/ — 

By NJ Ayuk, Chairman of African Energy Chamber (http://www.EnergyChamber.org).

I am going to COP27 because I believe if Africa is not on the table it will be on the menu. Let me be clear, those of us who are advocating for African countries to continue using their oil and gas resources are not “ignoring” the world’s green agenda – we’re simply not willing to embrace the world’s timetable for transitioning to renewable fuels at the expense of our own energy security and economic well-being.

The way we see it, the world’s wealthy nations’ green agenda ignores Africa – or at least, it dismisses our unique needs, priorities and challenges.

The green agenda of developed nations further ignores the tremendous role that Africa’s oil and gas industry plays in generating African countries’ revenue. Oil revenues represent at least 20% of GDP in Libya, Algeria, Gabon, Chad, Angola, and The Republic of Congo. In Nigeria, one Africa’s main oil producers, oil represents a more modest percentage of real GDP – about 6% – however, oil and gas account for 95% of foreign exchange income and 80% of government revenues.

The green agenda of wealthy nations ignores those of us who point out that natural gas has the potential to bring life-changing prosperity to the continent in the form of jobs, business opportunities, capacity building and monetization. It ignores the sustainable, logical path we’re proposing, which is  using our resources, natural gas in particular, to help us meet current needs and to generate revenue that can help pay for our transition to renewables.

The wealthy nations’ green agenda does not consider how much Africa needs natural gas to bring electricity to the growing number of Africans living without it. They do not understand that we, as Africans, are focused on growing Africa’s energy mix to include fossil fuels and renewables, instead of insisting on an all or nothing approach to our energy transition.

Around 600 million Africans lacked access to electricity before the pandemic; and it appears that this figure is growing. According to the International Energy Agency, during 2020 some gains in access were reversed, with as many as 30 million people who previously had access to electricity no longer able to afford it. 

Considering that universal access to affordable, reliable electricity is one of the UN’s sustainable development goals – meaning it’s a basic human right – the huge and growing number of Africans without electricity is morally wrong, and it cannot be ignored.

Unfortunately, climate panic and fear mongering are alive and well, and for some reason, Africa is public enemy number one. A continent that emits a negligible amount of carbon dioxide, at most, 3% of the world’s total, is being disproportionately pegged as a threat to the planet by developed nations.

In particular, the West is vilifying Africa’s energy industry because it is based on fossil fuels, even though the proportion of renewables is growing.  There’s no question that much of this anti-African oil and gas sentiment is based in fear of climate change, which is Interwoven with the sheer terror that a fossil fuel boom in Africa could be devastating to the world at large.

Africa is vulnerable to climate change.

There’s no denying that climate change is affecting Africa. One has only to look at the extended drought in the south to see how devastating things can be when customary weather patterns are disrupted.

The thing is, Africa is being affected by a crisis NOT OF ITS OWN MAKING. If contributing just 3% of global emissions could cause issues like what we’re seeing in Somalia, for example, the world’s nations that produce far more greenhouse gases should be dried up, under water, blown away, or burned to a crisp by now.

Consider this: Prominent American climate activist Bill McKibben said that the world can’t fight climate change if Total Energies and Uganda goes through with building the East African Crude Oil Pipeline. Yes, according to McKibben, that one action will derail the entire carbon reduction scheme and offset anything any of the world’s other countries are doing to reach net zero. Seems ridiculous, doesn’t it?

What’s even more perplexing—or perhaps outlandish—is that McKibben has taken aim at a pipeline that will transport just 210,000 barrels of oil per day. That’s roughly equivalent to 1.8% of the total output of the U.S., but he claims it must be stopped, or everything falls apart. What’s the point of any climate effort anywhere if it can be undone by a relatively small pipeline that might actually be a lifeline in one of the world’s most impoverished nations?

But let’s define what truly constitutes a boom in Africa. 

Energy use on the continent is still very low. So low, in fact, that researchers writing in Foreign Policy magazine estimate that if the one billion people living in sub-Saharan Africa tripled electricity using natural gas, the additional emissions would equal just 0.62% of global carbon dioxide.

Energy use on the continent is so low that the average African consumes less electricity per year than an entire American family’s refrigerator.

At the same time, authors Todd Moss and Vijaya Ramachandran, from the Energy for Growth Hub, say the world is greatly overestimating how much natural gas Africa will generate between now and 2030. They cite a study in Nature Energy that claims the forecast for new gas generation in West Africa is five times the region’s new gas potential. Obviously, there’s some mathematical mismatch in the study. 

We have to ask ourselves: Will fossil fuel development in Africa signal an end to all of the world’s good intentions and net zero ambitions?  Or is this an example of ‘green colonialism?’

I find it interesting that a Financial Times’ public poll, on the day it announced I was going to have an Oxford style debate on this issue, suggested that people are not at all convinced that African countries should abandon oil and gas – 70% of the 619 respondents took my position that Africa should make full use of its fossil fuels.

Energy use on the continent is so low that the average African consumes less electricity per year than an entire American family’s refrigerator

How can we build a successful African energy movement?

I believe the ultimate responsibility for getting there is ours and no one else’s. Yes, we need partners to walk alongside us, but the success of our energy movement rests on African shoulders. To begin with, I am happy to see African energy stakeholders speaking with  a unified voice about African energy industry goals thanks to African Energy Week. Africa Oil Week did everything to divide our voices and we stood firm and brought the Africa upstream, midstream and downstream together and we signed deals at African Energy Week.

This will be particularly important as we go into COP27 in Egypt. It is imperative that African leaders present a unified voice and strategy for African energy transitions. We must make Africa’s unique needs and circumstances clear and explain the critical role that oil and gas will play in helping Africa achieve net-zero emissions in coming decades.

Western Support to Africa

But, I would love to see Western governments, businesses, financial institutions, and organizations support our efforts.

How? They can avoid demonizing the oil and gas industry. We see it constantly, in the media, in policy and investment decisions, and in calls for Africa to leave our fossil fuels in the ground. We see it with lawsuits to stop financing of Mozambique LNG or lawsuits to prevent Shell from even carrying out a seismic survey. Actions like these, even as Western leaders have pushed OPEC to produce oil, are not fair, and they’re not helpful. Even as western countries are pushing to increase their own production and escalating coal use.

I also would respectfully ask financial institutions to resume financing for African oil and gas projects and stop attempting to block projects like the East African Crude Oil pipeline or Mozambique’s LNG projects.

Africa is already suffering.

The 600 million-plus Africans without electricity are suffering. The 890 million Africans without a means of clean cooking are suffering.

I would argue that if we want to protect Africans from harm and misery, we must embrace our natural gas resources.

Natural gas has a lower environmental impact than other fossil fuels. According to the U.S. Energy Information Administration (EIA), switching thermal power plants from coal to gas was the main reason why the U.S. power-generating sector saw carbon dioxide emissions sink by 32% between 2005 and 2019.

What’s more, natural gas is indispensable in multiple ways. It is part of modern development, used for clean cooking, process heat, transportation, and as a feedstock for fertilizers.

We can’t overlook how important fertilizers are, considering the millions and millions of people who are food insecure across the globe or “teetering on the edge of famine,” as the UN World Food Program puts it.

The rise in food insecurity is often attributed to conflict, and the battles between Russia and Ukraine prove that point. Since the conflict began between the two large producers of wheat and grain, global food prices have skyrocketed. Considering how Russia has shut down natural gas exports, it’s no surprise that fuel and fertilizer prices have also shot up.

In fact, the increase in fertilizer costs is having as much of an effect on food prices as the conflict in Ukraine. When farmers can’t afford fertilizer (which is more often the case in poor countries than rich ones), crop yield diminishes, food prices skyrocket, and more people are left hungry. Right now, the U.N. Global Crisis Response Group says, more than 60 countries are now struggling to afford food imports. It should come as no surprise that many of them are in Africa.

Using African natural gas to fill the fertilizer feedstock gap will go a long way in mitigating those problems and putting food on the table worldwide. If Africa is allowed to develop its resources, there will be plenty of natural gas to go around.

Natural gas helps the world meet its climate targets faster and can help solve the world’s hunger crisis.

And they’re not alone.

Think about Europe, which is scrambling to line up enough oil, gas, and coal for the winter— and are looking to Africa for supplies – or consider the results of a 2022 Pew Research Survey of 10,237 U.S. adults about America’s energy transition. Only 31% believed that the U.S. should phase out oil, gas, and coal completely, while 67% called for cultivating a mix of fossil fuels and renewable energy sources.

So my question is, why should we in Africa give up our fossil fuels – fuels that represent solutions to some of our most pressing needs – when so many others question the wisdom of doing the same?

We shouldn’t. And we shouldn’t be forced to.

Distributed by APO Group on behalf of African Energy Chamber.

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Nigeria’s Upstream Reform Program Captures 40% of Africa’s Final Investment Decision (FID) Activity After a Decade on the Margins

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A government three-year review documents how executive action under President Tinubu reversed a decade of upstream decline

JOHANNESBURG, South Africa, May 8, 2026/APO Group/ –Nigeria has gone from capturing 4% of Africa’s upstream final investment decisions (FIDs) to commanding 40% in two years, according to Nigeria’s Energy Sector Reforms 2023-2026: A Three-Year Review, published by the Office of the Special Adviser to the President on Energy and spearheaded by Special Adviser Olu Verheijen. The $50 billion project pipeline now in development beyond 2026 points to sustained capital commitment at a scale not seen in the Nigerian upstream for at least a decade.

 

Between 2014 and 2023, Nigeria was among the continent’s weakest performers for upstream FIDs despite holding 37.5 billion barrels of proven oil reserves, the second-largest endowment in Africa. Algeria captured 44% of African upstream FIDs during that period, Angola held 26%, while Nigeria trailed Mozambique, Ghana, Senegal and Namibia. In the third quarter of 2022, crude production briefly dropped below one million barrels per day, as years of underinvestment, pipeline vandalism and regulatory ambiguity compounded each other. However, reforms instituted by Nigeria’s President Bola Tinubu have dramatically turned this trend around. Through deliberate and coordinated steps, the government has reset the trajectory.

Addressing Fiscal Terms, Regulatory Scope and Contracting Speed

President Bola Tinubu’s administration moved simultaneously on fiscal terms and regulatory architecture. Policy directives in 2023 clarified the boundary of jurisdiction between the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), resolving an ambiguity that had complicated project sanctioning. Presidential Directive 40 introduced targeted tax incentives, and a separate Notice of Tax Incentives for Deep Offshore Production in 2024 was designed to draw international oil companies (IOCs) back into capital-intensive, long-cycle deepwater projects. The VAT Modification Order 2024 and Upstream Cost Efficiency Order 2025 addressed the cost structures that had rendered marginal projects uneconomic. NNPCL contracting timelines were compressed from 36 months to a maximum of six months.

Four Divestments Transferred Onshore Control to Indigenous Operators

In parallel, the administration deployed targeted security directives and accelerated ministerial consents for four IOC asset transfers. Renaissance acquired Shell’s onshore portfolio. Seplat Energy completed its acquisition of ExxonMobil’s Nigerian upstream interests. Oando took over from Agip, and Chappal acquired Equinor’s local assets. The four transactions totaled approximately $4 billion. The transfer of onshore and shallow-water blocks to indigenous operators contributed directly to production recovery. Output rose by approximately 400,000 barrels per day between 2023 and 2025 to reach 1.6 million barrels per day, the highest onshore production level in 20 years.

When a government rebuilds fiscal competitiveness and regulatory predictability at the same time, capital responds

Signed Projects Total $10 Billion, With a $50 Billion Pipeline Beyond

The reforms produced a concrete FID response from Shell and TotalEnergies. Shell Nigeria Exploration and Production Company (SNEPCo) sanctioned the $5 billion Bonga North deepwater development in December 2024 and committed a further $2 billion to the HI Non-Associated Gas (NAG) project. TotalEnergies and NNPCL took a joint FID on the $550 million Ubeta gas field development in June 2024.

Together those three commitments account for more than $10 billion in signed investment after a decade of near-zero sanctioning activity. The pipeline beyond 2026 spans a further $50 billion across 11 projects including Bonga South West, Owowo, Usan and Erha. Nigeria approved 28 field development plans valued at $18.2 billion in 2025 alone, targeting an estimated 1.4 billion barrels of reserves.

“When a government rebuilds fiscal competitiveness and regulatory predictability at the same time, capital responds,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “Nigeria has done both, and the FID numbers are concrete proof.”

The Counterfactual Illustrates How Much Was at Stake

The presentation includes a no-reform projection that puts the gains in context. Without intervention, total crude and condensate production was on track to fall from 1.371 million barrels of oil equivalent per day in 2022 to 579,000 by 2030. Under the reform trajectory, output reached 1.77 million barrels of oil equivalent per day in 2026, with a stated government target of 3 million barrels per day. Export gas utilization rose 39% over the same period, while domestic utilization grew by 7%.

The durability of these gains will be tested by two factors: whether the institutional architecture put in place under the Tinubu administration holds over the long term, and whether the deepwater commitments signed in 2024 and 2025 advance to execution on schedule. The project pipeline is large enough that partial delivery would still represent a generational shift in Nigeria’s upstream output profile.

 

Distributed by APO Group on behalf of African Energy Chamber.

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Angola Strengthens Global Investment Drive Across Oil, Gas and Mineral Resources

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With sweeping reforms across the extractive sector, Angola is entering a new phase defined by transparency, regulatory modernisation, value addition, and international partnership

LONDON, United Kingdom, May 8, 2026/APO Group/ –At a defining moment in Angola’s economic transformation, the Critical Minerals Africa Group (CMAG) (https://CMAGAfrica.com), together with the Government of Angola and the Ministry of Mineral Resources, Petroleum and Gas of the Republic of Angola (MIREMPET), will convene global investors, policymakers, and industry leaders in London for the Angola Oil, Gas & Mining Investment Conference on 14 May 2026.

 

More than a conference, this gathering represents a strategic international engagement at a time when Angola is actively reshaping its economic future and positioning itself as one of Africa’s most compelling destinations for long-term investment in natural resources, infrastructure, and industrial development.

With sweeping reforms across the extractive sector, Angola is entering a new phase defined by transparency, regulatory modernisation, value addition, and international partnership. The country’s leadership is sending a clear message to global markets: Angola is open for investment and ready to build transformational partnerships that support sustainable growth and economic diversification.

This is not simply about resource development, it is about building long-term industrial growth, strengthening energy and mineral supply chains, and shaping Angola’s future

The event will be headlined by H.E. Diamantino Azevedo, Minister for Mineral Resources, Oil and Gas of Angola, whose leadership since 2017 has been central to advancing Angola’s mineral and hydrocarbons agenda. Under his stewardship, Angola has accelerated institutional reform, strengthened governance frameworks, promoted private sector participation, and prioritised sustainable resource development.

As global demand intensifies for critical minerals, energy security, and resilient supply chains, Angola is uniquely positioned to become a strategic partner to international investors and industrial economies. The country’s vast untapped mineral wealth, significant oil and gas reserves, expanding infrastructure ambitions, and commitment to economic diversification present a rare investment window for global stakeholders.

Speaking ahead of the event, Veronica Bolton Smith, CEO of the Critical Minerals Africa Group said:

“Angola stands at a pivotal point in its national development. The reforms taking place across the country’s extractive sectors are creating unprecedented opportunities for responsible international investment and strategic partnership. This is not simply about resource development, it is about building long-term industrial growth, strengthening energy and mineral supply chains, and shaping Angola’s future as a globally competitive investment destination. We believe this moment represents one of the most important opportunities for international partners to engage with Angola’s leadership and participate in the country’s next chapter of economic transformation.”

The event is expected to attract a distinguished international audience, including sovereign representatives, institutional investors, mining and energy executives, infrastructure developers, development finance institutions, and strategic partners seeking direct engagement with Angola’s leadership.

Distributed by APO Group on behalf of Critical Minerals Africa Group (CMAG).

 

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The Islamic Development Bank (IsDB) Group Successfully Concludes Private Sector Roadshow in Baku

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Bringing together a diverse range of stakeholders, the Forum showcased IsDB Group services, activities, and initiatives across its 57 member countries, with particular emphasis on Azerbaijan

BAKU, Azerbaijan, May 7, 2026/APO Group/ –The Islamic Development Bank Group (IsDB) affiliates (www.IsDB.org) – namely the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC) – in cooperation with the Islamic Development Bank Group Business Forum (THIQAH), organized the “IsDB Group Private Sector Roadshow” in Baku, Azerbaijan, in close collaboration with the Ministry of Economy of the Republic of Azerbaijan and the Export and Investment Promotion Agency of the Republic of Azerbaijan (AZPROMO).

 

The high-profile event which took place on Thursday, 7th May 2026, at Azerbaijan’s Ministry of Economy, came as part of ongoing preparations for the upcoming IsDB Group Annual Meetings and Private Sector Forum (PSF 2026), scheduled to take place from 16 to 19 June 2026, under the high patronage of His Excellency President Ilham Aliyev, the President of the Republic of Azerbaijan.

 

Bringing together a diverse range of stakeholders, the Forum showcased IsDB Group services, activities, and initiatives across its 57 member countries, with particular emphasis on Azerbaijan. It highlighted the Group’s ongoing support for private sector development and its efforts to stimulate promising investment and trade opportunities in the Azerbaijani market.

 

The event also served as a unique opportunity inviting the audience to participate actively in IsDB Group Annual Meetings and the Private Sector Forum (PSF 2026). The program included panel discussions and specialized workshops on ways to enhance economic partnerships and the role of IsDB Group’s institutions in supporting the needs of member countries. The spectra of services, solutions and financial tools were also presented, including lines and modes of Islamic financing, trade finance and trade development solutions, corporate private sector financing, as well as risk mitigation solutions plus investment insurance and export credit insurance services.

 

Keynote speakers, in their speeches, underlined strong commitment to deepening engagement with the private sector and fostering meaningful partnerships that drive sustainable economic growth in light of the upcoming IsDB Group Annual Meetings in Baku, all to showcase integrated solutions especially in Islamic finance, trade, investment, and risk mitigation while working closely and collectively with private sector partners to unlock new opportunities, support innovation, and empower businesses contributing to inclusive and resilient development across IsDB Group member countries.

Distributed by APO Group on behalf of Islamic Development Bank Group (IsDB Group).

 

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