African Countries Called To Harness Oil, Gas For Better Economy
Afimag.com –
The Secretary General of African Petroleum Producers Organization, APPO, Omar Farouq has called on African leaders to harness the abundant oil and gas resources in their domains to better her economy
Farouq made the call at the 3rd African Local Content Round Table Meeting held in Abuja on October 25, 2023.
He explained that African must first straighten up the Infrastructure in the Petroleum Industry to address Energy crisis rocking it.
According to him, the major study conducted by the organisation a couple of years ago on the Future of the Oil and Gas Industry in the Light of the Energy Transition, identified three imminent challenges that the energy transition posed to the African oil and gas industry.
He said, “It is obvious that the biggest victims of a speedy energy transition shall be the developing countries, especially those from Africa, this is because, should the anticipated technological breakthroughs in renewable energy research and development fail to materialize by the time they are expected to be fully deployed.
“And at the same time the oil and gas industry has been abandoned, leading to a shortage in global energy supplies, the little energy that is available is being cornered by the rich countries.”
The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri while highlighting the challenges in the Oil and Gas sector, said Nigeria and the entire African Continent must work with local materials to achieve efficient Power supply and push against fossils
“Essentially Africa did not explore oil and gas for Africans alone, but for other people, that is why for nearly 100 years dt Africa had been producing, we are still dependent on foreign investment to do oil and gas project in Africa. The same applies to our technology, we have been conditioned to believe that it is normal.”
The Executive Secretary of the Nigeria Content Development and Monitoring Board, NCDMB, Simbi Wabote agreed that the theme of the conference; Enhancing local Content development is apt and emphasized on the need for the incorporation of Local Content in utilisation in other sectors for skills development and job creation for youths.
“The collaboration platform is necessary to enhance economic integration, vocational training, acquisition of data base, skills as a means of leveraging Africa free trade areas.”
The forum which had dignitaries like Group Chief Executive Officer of NNPC Ltd Mallam Mele Kyari and other stakeholders is expected to come up with recommendations that would help shape Government Programmes and Policies for a Renewed Hope Agenda of the present Administration.