18.1 C
Abuja
18.1 C
Abuja

OPEC to consider 600m Africans without electricity in energy transition plan

Advertisement

Related

Advertisement
Advertisement

Share this story

THE new Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Kuwait’s Haitham Al Ghais, said on Tuesday, August 2, 2022, that the organisation would make 600 million Africans who are without electricity a priority in its global energy transition discussions.

Al Ghais made the disclosure at a virtual event where he engaged the Nigerian media on his immediate plans for the oil industry after assuming duty as the new head of the organisation.


READ ALSO:

Senate pass Electricity Bill 2022 to unlock gains of power privatisation

Metered electricity customers grew by 6.8% in 5 years – NBS

Electricity price hike: NERC approves tariff increase for DisCos

Next President should explain dilemma of ‘Fulani herdsmen’, deal with electricity, PMS, FX subsidies, says Chidoka


- Advertisement -

“The African continent has over 1.2 billion population, with over 600 people without electricity. There is an ongoing discussion about energy transition, and the voice of the people needs to be heard and taken into consideration and accounted for.

“In the energy transition, there is no one-size-fits-all solution. Everybody’s voice must be represented and everybody must be part of the dialogue, particularly on the African continent,” he declared.

While underscoring the critical role Nigeria plays in OPEC and its pivotal place in the African oil and gas market, he promised to visit Nigeria soon, saying that with the cooperation of Nigeria and other member nations, OPEC would weather the storms in the global oil market.

The OPEC scribe described the ongoing construction of a regional gas pipeline that would convey Nigeria’s gas to Niger, Algeria, and then to Europe as a significant development, stressing, “any assistance to be rendered to the continent must be collectively discussed and agreed on by all stakeholders in OPEC.”

According to him, while OPEC decisions are usually collective, the framework laid in stabilising the global oil industry by Barkindo at the organisation would not be abandoned.

He said, “In OPEC, the direction is dictated by market conditions, which is what unites OPEC and the wider group of OPEC+, to do whatever is necessary to maintain the market balance.

“Healthy state of the market, which is a balance between supply and demand, is to the benefit of not only the oil producing, but also the oil consuming countries, and the wider global economy.

- Advertisement -

“I will maintain this course and direction. It is not only me personally, it is all the organisations within OPEC member countries and the wider alliance of the OPEC+ who are interested in maintaining what the late Barkindo embarked on in 2016.”

Al Ghais’ stance on 600 million Africans would lessen concerns of energy poverty since global funders and banking institutions have started narrowing their interventions to clean energy.

“This is a good development considering the fact that the World Bank and some other global funders are already narrowing their funding options to clean energy. In the new Petroleum Industry Act, there is a space for renewable energy, and I believe the government would engage them properly as we are gradually transitioning in our oil and gas sector,” the Partner, Zera Advisory and Consulting and former Chairman of the Nigeria Society of Petroleum Engineers, Joe Nwakwue, told THE ICIR.

Al Ghais paid an exceptional tribute to his predecessor, Mohammed Sanusi Barkindo, who died on July 5, 2022 while on a visit to Nigeria.

He explained that while the legacies of the late Barkindo would continue to be upheld, members of OPEC would collectively determine the next set of decisions by the body.

The new OPEC secretary-general had been unanimously picked by member nations in January and was already in waiting to succeed Barkindo before the death of the Nigerian-born global oil and gas leader.

 

Author profile
- Advertisement -

Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.

Support the ICIR

We invite you to support us to continue the work we do.

Your support will strengthen journalism in Nigeria and help sustain our democracy.

If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Support the ICIR

We need your support to produce excellent journalism at all times.

Advertisement

Recent

How flooding across Nigeria caused problems for Nasarawa rice farming communities

JAMES Onuh was still trying to figure out how to move some of his...

N-Power fraud: ICPC frees D’Banj on self-recognition after 72 hours in detention

THE Independent Corrupt Practices and other Related Offences Commission (ICPC) has freed Popular Musician...

2023: NBA calls for free, fair elections

THE Nigerian Bar Association (NBA) has warned against malpractices in the forthcoming general elections. NBA...

Offa robbery: I was tortured by Abba Kyari to implicate Saraki – Witness

A witness, Shamsudeen Bada, has told a High Court in Kwara State how he...

Foreigners behind insurgency in the North – Shehu of Borno

SHEHU of Borno, Abubakar El-Kanemi, has described the insurgency in the country as the...
Advertisement

Most Read

Advertisement

Subscribe to our newsletter

Advertisement