From Nwafor Elizabeth, Yenagoa
Nigerian Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, emphasized the importance of Africa leading its own energy future at the Africa Energy Week conference.
A statement by the Special Adviser on Media and Communications to the Honourable Minister, Nneamaka Okafor noted that Lokpobiri spoke during the 2024 Africa Energy Week Conference with the theme : ” Global Energy Security:’The Imperative Africa Energy Development’ in Abuja, Nigeria.
He stressed that African-led initiatives are crucial for achieving true energy security, citing the African Petroleum Producers Organization’s establishment of the Africa Energy Bank as a vital step in securing funding tailored to Africa’s energy needs.
Lokpobiri highlighted Africa’s strategic position, holding 12% of global oil reserves and 7% of natural gas, yet over 600 million Africans still lack access to electricity, underscoring the need to address energy poverty and power industrial growth across the continent.
The minister invited global investors to explore Nigeria’s oil and gas sector, outlining opportunities in upstream, midstream, and downstream segments.
He praised APPO’s collaborative approach, aiming to build a resilient energy sector and reduce foreign dependency.
Lokpobiri identified infrastructure deficits, limited investments, and international pressures as ongoing obstacles to Africa’s energy development.
However, he emphasized Africa’s potential to become a green energy hub, leveraging its resources to lead in renewable energy and responsibly manage oil and gas resources.
The minister called for a unified regulatory framework to facilitate cross-border energy projects and bolster investor confidence. “Africa stands ready to build a secure, sustainable, and prosperous future,” he said, extending an open invitation to global partners and investors to join in shaping the energy future of tomorrow.
