The former president of Nigeria says African countries cannot be beholden to the unrealistic ideals of the Global North for an exclusively renewables-driven economy
In the midst of a global oil-and-gas
crisis, Africa must
take charge of its own energy destiny, and use its rich resource assets for the
benefit of its own people.
This is the call from former Nigerian
president Olusegun Obasanjo.
His comments come as the world scrambles to find new sources of oil and gas to
meet its energy needs following Russia’s invasion of Ukraine.
In this context, Obasanjo said African countries cannot be beholden to the
unrealistic ideals of the Global North for an exclusively renewables-driven
economy.
He said this is particularly true when
the developed world is itself accepting the need for hydrocarbons.
“Like the rest of the world, Africa
must follow energy policies that promote socio-economic development and
sustainable hydrocarbon use,” he said.
“Africa is the lowest producer of
greenhouse-gas emissions and needs to lift nearly half-a-billion citizens out
of poverty,” said Obasanjo.
“Responsible management of our
hydrocarbons and investment in our economies is necessary to ensure a just
energy transition and sustainable growth for our people.”
The European Union (EU)has said it
intends to cut Russian-supplied oil by up to 90% by the end of 2022, and the
announcement has already caused global energy costs to soar.
Africa is one of the potential new
sources of energy to replace this supply, with an estimated 61 billion BOE
(barrel oil equivalent) being discovered in the region over the past 10 years.
Obasanjo’s call for Africa to assert
its energy sovereignty comes ahead of the Africa Oil Week (AOW) conference in
South Africa, where energy companies, investors and governments will meet to
negotiate deals that will shape the continent’s future.
The African Petroleum Producers’
Organization (APPO) has also called on member countries and other global
institutions to use petroleum as a catalyst for energy security, sustainable
development and economic diversification in Africa through collaboration and
partnerships.
Both Obasanjo and APPO have called for accelerated dialogue on the sustainable
development of hydrocarbons, and the role of Africa as a supplier of global
energy needs.
“There has been much talk at forums
such as the World Economic Forum in Davos about a just energy transition,” says
Obasanjo. “However, we must not allow Africa to be dictated to. “The
discussions at AOW will be pivotal in charting a new energy course for Africa.
We will decide what is best for us.”
Paul Sinclair, VP of Energy and
Director of Government Relations for AOW, says Africa is committed to a just
and equitable transition to renewables.
“Critics make the mistake of thinking
that Africa has abandoned renewable energy strategies. That is not the case,”
said Sinclair.
“The energy transition is exactly
that, a transition that is part of Africa’s goal to reach net zero. However,
oil and gas are required for the foreseeable future.”
Sinclair says Obasanjo’s comments must
be seen against the socio-economic challenges many African economies face.
Obasanjo has been a major leader of
Africa’s post-colonial period, having overseen Nigeria’s transition to
representative democracy. Since his move out of the government sphere, he has
been a senior statesman, active on defining geopolitical issues – including
energy.
Obasanjo also helped to shape the
modern Nigerian oil industry, inaugurating policy reforms which have seen the
country become an energy superpower on the African continent.
“Creating an African oil industry that benefits Africa’s people needs strong
policy and regulation,” says Obasanjo. “During my time in government, we
launched oil-and-gas policy reforms that helped to build a modern oil and gas
hub. There were many learnings that we can apply across the wider region. I
look forward to discussing these opportunities for Africa.”
Africa continent remains one of the
most under-explored places on earth for oil and gas deposits. Yet, the ongoing
discovery of new energy resources suggest the continent holds great value
beneath its surface.
According to the United Nations, an
estimated half-a-billion Africans live below the poverty line, while at the
same time Africa is only responsible for 3.8% of global CO2 emissions.
Many African countries argue they must
be allowed to tap into their natural resources through low-carbon management
strategies while developing renewable energy sources at the same time. This
will require countries to develop an energy mix suitable for growth and
progress.
Source: Asaase Radio