the Vice President, Yemi Osinbajo, and other stakeholders across sub-Saharan Africa are expected to examine the need to scale up oil and gas and energy infrastructure in the region next month.
The stakeholders would converge on Nairobi, Kenya for the Sub-Saharan African Oil and Gas and Energy Infrastructure Summit, the organisers said on Wednesday.
The Co-convener, SSAOGES, Mr Oladeji Olawale, who noted that the United Nations had projected that Africa’s population would hit 2.3 billion by 2050, said the increasing population growth would bring about increased demand for energy.
“African continent, though with enough energy reserves to serve its teeming population, does not have the infrastructure to produce enough energy to meet the continent’s need. This scenario will only get worse if urgent steps are not taken to ensure energy efficiency,” he said at a press briefing in Lagos.
According to him, what the summit seeks to achieve is to start a conversation among stakeholders such as policymakers, infrastructure development financiers, international oil companies, national oil companies, power generating companies, power distribution companies, renewable energy companies, and national and regional governments.
Olawale said, “The goal is to fashion out efficient ways to begin to develop the needed infrastructure for the energy of the future. The summit is organised around presentations, panel sessions and breakaway sessions evaluating identified themes bordering on oil and gas and energy infrastructure in sub-Saharan Africa.”
He said the sessions would focus majorly on knowledge, policy and marketing strategies in relation to the emerging gas markets in sub-Saharan Africa, not forgetting the opportunities relating to oil.
He said, “Presently, we have confirmed eminent personalities such as the Vice President of Nigeria, Prof. Yemi Osinbajo; former President Chief Olusegun Obasanjo; the Minister of State for Petroleum Resources, Dr Ibe Kachikwu; the Minister of Energy, Kenya, Munyes Kiyonga; the Minister of Energy, Morocco, Aziz Rabah; the Commissioner of Energy and Mines of ECOWAS, Mr Sediko Douka; and President, Russian Oil and Gas Association, Victor Khaikov, among others.
“The oil and gas sectors of several African developing countries have shown limited positive impact on other sectors of the economy, and this is largely due to the lack of relevant infrastructure to drive the needed growth. The oil and gas exporting countries in the sub-Saharan region in Africa could derive more benefits from the sector by stimulating growth of forward and backward relationships broadly within their national economies.”
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.