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NJ Ayuk on Five Years of Powering Africa’s Energy

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Energy

African Energy Week (AEW) was born out of a need to bring the discussion about Africa’s energy future back to the continent

SANDTON, South Africa, September 18, 2025/APO Group/ –Five years may seem a short time in the lifespan of an industry, but in the African energy space, it has been nothing short of a revolution. At the heart of that transformation stands NJ Ayuk, Executive Chairman of the African Energy Chamber (https://EnergyChamber.org/), a figure who has become synonymous with unapologetic advocacy for African-led solutions, deal-making at scale, and an unrelenting drive to end energy poverty on the continent. His voice carries weight not just in Africa but across global boardrooms, where he has positioned Africa not as a bystander in the energy transition but as a decisive player.

 

Against this backdrop of ambition, grit, and unprecedented growth, Pan African Visions recently had a Q&A with NJ Ayuk, a conversation that captured both the triumphs of the African Energy Week (AEW) journey and the sharper edges of Africa’s energy reality. More than just a conference, AEW has grown into what Ayuk describes as a “movement,” one that in just five years has turned Cape Town into the epicenter of global energy dialogue.

In the exchange that follows, Ayuk speaks candidly about the birth of AEW, its achievements, the hurdles of perception, and the bold steps that still lie ahead. His words are not rehearsed slogans; they are infused with the lived intensity of someone who has fought to bring Africa’s energy story back to African soil—and won.

The fifth anniversary of this incredible conference fills me and the AEC team with pride as well as clarity of purpose. From our 2021 debut of 1,700 delegates, ministers, global executives, and financiers, we’ve evolved into the continent’s premier energy investment platform, with just short of 7,000 delegates attending in 2024, with 26 official delegations and 27 ministries. Celebrating this symbolic fifth year, the mood is electric – we’ve catalyzed multi-billion-dollar deals, shaped policy, and intensified regional collaboration. With renewed confidence, I can wholeheartedly say, AEW is the heartbeat of Africa’s energy ambitions. We feel fortitude, optimism, and an unwavering commitment to deliver deals that will make energy poverty in Africa history by 2030.

AEW was born out of a need to bring the discussion about Africa’s energy future back to the continent. For so long, we have seen major energy events discuss key topics about the continent in international locations. From Houston to Dubai to London. And during COVID-19, when it was even more imperative to protect Africa’s interests, we saw major conferences abandon the continent for Dubai. This not only took the discussion about Africa away from the continent but also took all of the economic benefits of hosting a conference away from the community as well. Africa deserves to not only be part of those discussions but drive them. AEW proved that the continent is capable of hosting international energy conferences.

In five years, AEW has delivered transformative outcomes: facilitating multi-billion-dollar deals, institutionalizing platforms like the African Farmout Forum and Deal Room, and shaping energy policy dialogue across Africa. We launched initiatives such as the African Green Energy initiative and the Just Energy Transition Concert, amplifying green energy investment and inclusive engagement. Strategic financing commitments have flowed – like Afreximbank channelling over $120 million in 2024, and impactful cross-border projects like hydrogen exploration in The Gambia and gas facility funding in Nigeria. We’ve built the continent’s prime energy forum – where deals happen, and barriers fall.

When we launched AEW in 2021, our vision was ambitious. Seeing dozens of ministers, presidents, multinationals, financiers, and international institutions converge annually exceeds initial expectations. What started as a bold conference has matured into a movement. We now convene the full spectrum – governments, national oil companies, investors, and technology providers – powering tangible capital mobilization and project acceleration. Today, the AEW ecosystem is broader, deeper, and more impactful than we dared to dream.

Behind closed doors, ministers and heads of state recognize both urgency and opportunity – their energy stakes are existential, tied to development, jobs, and security. We hear a unified call for enabling regulation, transparency, and finance. Many affirm meaningful political will: Nigeria’s Petroleum Industry Act, South Africa’s new petroleum company, the Republic of Congo’s Gas Master Plan. Each underscores commitment to reform and sector growth. That political will is real and rising, though implementation must accelerate. At AEW, declarations are becoming actionable through partnerships, policy alignment, and capital flow.

Expect AEW 2025 to raise the bar. Highlights include expanded Big-5 Premium Content Stages, African Farmout Forum, and Deal Room. We’re introducing high-impact elements: the G20 Energy Leaders Roundtable, OPEC-Africa Roundtable, COP30 positioning sessions, and country spotlight forums for nations like Senegal, Equatorial Guinea, Namibia, and more. Pre-conference workshops, technical hubs, fireside chats, African Energy Awards, and the Just Energy Transition Concert also return, fueling innovation, recognition, and high-value networking. AEW 2025 delivers new formats and cutting-edge content.

Financing momentum is accelerating, with Africa’s oil and gas capital expenditure jumping to $47 billion in 2024 – a 23% year-on-year increase. Institutional elements like the African Energy Bank, launching with $5 billion this year, signal a new African-led financing era. Cross-border collaboration also strengthens – from joint LNG developments to regional pipeline planning and farm-out partnerships across the continent. While challenges persist, capital and cooperation are surging – proof that Africa is writing its own energy narratives.

Our global mission is shifting perception. Africa is not an energy laggard but a frontier of high-growth and resilient opportunity. Investors now see us not as a risk, but as full-sized players in oil, gas, and renewables. However, the myths remain: that Africa lacks governance, scale, and legitimacy. AEW counters that. Through real deals, ministerial validation, and deliverables. That lens is changing. We are now positioned as energy champions, not bystanders. But we still combat outdated tropes about instability and poor capacity – and events like AEW are the antidote.

We hope that Africa emerges as a global energy powerhouse, leveraging oil, gas, and renewables to power inclusive industrialization, growth, and energy justice. Financing, policymaking, and implementation must not falter. AEW’s future is to deepen impact, expanding satellite forums, reinforcing policy-to-project pipelines, and embedding digital integration and sustainability at every stage. We aim to revolve AEW into a year-round engine for capital flow, institutional building, and continuous energy transformation.

Distributed by APO Group on behalf of African Energy Chamber.

Business

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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African Energy Chamber

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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Angola

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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Islamic Development Bank

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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