Haithan Al Ghais, the Organization of Petroleum Exporting Countries (OPEC) Secretary General may have given Nigeria a pat on the back for its encouraging performance indices at OPEC, but it does not ultimately mean a clean bill here at home, for infrastructure, human, and socioeconomic development indicators did not show much of that positivism.
Haithan Al Ghais said: “Nigeria’s role in OPEC, past and present is a tremendous source of pride. We are also acutely conscious of Nigeria and Africa’s critical role in the future of our Organization and the energy industry broadly.”
He added: “Africa has a young and vibrant population. By 2045, the Middle East and Africa region is forecast to be the leading region by overall population, adding 723 million people in the period 2022 to 2045,” quoting, in this instance, from the Organization’s World Oil Outlook.
Africa’s energy statistics, an analyst had written, “make for a disappointing read.” His analysis showed that prior to the COP29 talks, about 600 million Africans still do not have access to electricity, and per capita energy consumption has remained the lowest globally, and “even more absurd given the continent’s huge and untapped oil and gas resources, with “staggering potential for low-carbon energy,” according to him.
One of the major takeaways at the 2024 Africa Energy Week in Cape Town was the need for Africa to prioritize developing its bountiful oil and gas resources to tackle its energy poverty, which also means, according to stakeholders, that Africa takes back full control of its own energy future. It was almost a general opinion at the assembly that across Africa, the frustration is rife, both at the slow pace of growth in oil and gas production, hurdles to securing finance for project executions, as well as concerns over carbon emissions.
The APPO Secretary General Dr Umar Farouk therefore may not have spoken out of context when he called on Nigeria and African leaders to prioritize their expenditure which he said was still a big challenge even at the moment. He was speaking at the Practical Nigerian Content (PNC) in Yenagoa, Bayelsa State a few weeks ago. Maintaining that, “Africa’s problem is its inability to prioritize its expenditure.”
What do all these entail? What additional steps are needed to accelerate development of the industry to reach its full potential?
Nigeria International Energy Summit (NIES) may be providing answers to as many issues along these conversations as possible.
Billed for February 24th until 27th 2025, at the Abuja Continental Hotel, FCT, has its theme as, “Bridging Continents: Connecting Investors Worldwide with Africa’s Energy Potential.”
Seen as the energy industry’s largest equipment exhibition assembly, NIES also provides access to leading-edge technical information, guarantees new professional contacts from around the world – all of which are necessary for capacity building and industry advancement. Its large international participation provides excellent opportunities for global sharing of knowledge, expertise, as well as best industry practices. It is a veritable platform for industry leaders, investors, buyers and entrepreneurs. It also has large rooms for the development of business partnerships and learning especially around the latest advances in the offshore oil and gas sector.
Meanwhile more than 5, 000 delegates and 45 countries have already confirmed their participation. And to keep the room warmer are 12 plenary sessions, 20 special presentations and 6 technical workshops. This is besides other side attractions. The exhibition hall which is already seen as the first of its kind is said to measure 4, 182Sqm in size, intended to provide delegates with the needed comfort as they navigate and engage in business networking and consolidation.