Africa’s Energy Future Depends on Harnessing Natural Resources and Empowering Its People – Lokpobiri
Lagos, Nigeria – At the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC), Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, emphasized that Africa’s energy destiny hinges on its ability to harness its natural resources, empower its people, and foster sustainable development.
Addressing key stakeholders, Lokpobiri highlighted the crucial role of local content and innovation in shaping Africa’s energy landscape. He noted that Nigeria’s divestment program, which empowers indigenous companies to manage marginal fields and shallow water assets, has significantly boosted production capacity and created opportunities for local businesses.
“Our successful divestment program stands as a testament to the transformative power of local content. By investing in local businesses, nurturing youth, and transferring critical technology, we are not just building an industry but shaping our continent’s future,” he stated.
Lokpobiri called for stronger regional collaboration, emphasizing that African nations must unite to share knowledge, close funding gaps, and harmonize regulations to enhance global competitiveness. He also stressed the need for Africa to embrace cleaner energy solutions while optimizing hydrocarbon resources in an environmentally responsible manner.
One of the most groundbreaking initiatives in Africa’s energy financing, he revealed, is the establishment of the African Energy Bank (AEB), to be hosted in Nigeria. This financial institution aims to provide tailored funding solutions for Africa’s energy sector, reducing reliance on foreign capital and accelerating infrastructure development.
“The African Energy Bank represents a shift toward financial autonomy. It has the power to unlock billions in funding, secure Africa’s energy future, and position the continent as a leader in global energy markets,” Lokpobiri remarked.
He further advocated for investment in research, digital transformation, and human capital development, stating that Africa must build a skilled, innovative workforce ready to drive technological advancements in the energy sector.
“The world is evolving, and Africa must evolve with it. The transition to cleaner energy is not a threat—it is an opportunity. The future belongs to those who embrace change, and Africa must lead the way in sustainable energy development,” he concluded.
With Africa’s energy sector at a turning point, Lokpobiri’s call to action underscores the urgent need for investment, regional collaboration, and policy reforms to ensure long-term energy security and economic growth across the continent.
