Wednesday, July 6, 2022
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result

IEA urged to include Africa in energy transition dialogue

Kolawole Onasanya by Kolawole Onasanya
July 1, 2020
in Energy
0
IEA urged to include Africa in energy transition dialogue
6
SHARES
14
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsApp

The African Energy Chamber says it has taken note of recent initiatives taken by the International Energy Agency to support Africa’s energy transition, saluting the leadership of the IEA on the issue.

According to AEC, such conversations echo its recent statement on African Lives Matter, questioning the OECD and IEA’s recent call to phase out fossil fuels.

READ ALSO

Nigeria to benefit from local Content in petroleum sector

Spike in cooking gas, kerosene prices and crave for substitutes

“While the conversation of Africa’s energy transition continues, the Chamber reiterates its support to inclusive dialogues that take into account the realities of African economies and of energy poverty.

Read Also:

  • Public and private sectors' role in financing climate change needs
    Public and private sectors' role in financing climate change…
  • APCON and war against false adverts
    APCON and war against false adverts
  • Cybersecurity: All you need to know
    Cybersecurity: All you need to know

“Unfortunately, the Africa Ministerial Roundtable organised this week has sidelined key stakeholders and actors within Africa’s energy sector, preventing its ability to be truly inclusive and impactful on the ground. Africa’s energy transition will not be possible without the inclusion, and participation of, the continent’s petroleum and gas ministries and companies,” a statement by the organisation said.

The AEC said it strongly believed that key institutions like the African Petroleum Producers Organization, led by its Secretary General, Dr. Farouk Ibrahim, needed to be part of the dialogue, along with representatives of the petroleum ministries of oil-producing countries such as Algeria, Nigeria, Angola, Equatorial, Libya, Congo or Gabon and key national oil companies such as Sonatrach, GEPetrol, Gabon Oil, NNPC or Sonangol.

“Energy poverty is as real as climate change, and the global debate on Africa’s energy transition tends to forget that hundreds of millions of African have no access to energy and still rely on firewood for cooking. Their needs must be at the center of the energy transition debate, which should not be made at the expense of any particular source of energy,” stated Nj Ayuk, AEC Executive Chairman.

He added, “This generation of Africans are not tickled by foreign aid and handouts that resulted in poor governance and mismanagement. Jobs, sustainable power and gas that drives development, along strong market-driven economies, are what Africans want. In order to accomplish a true African energy transition, petroleum producing countries, their National Oil Companies, civil society, African entrepreneurs and independent producing companies need to have a seat at the table.”

The AEC pointed out that it remained concerned that global conversations on Africa’s energy transition would result in a new foreign aid narrative by which Western stakeholders and investors would “blindly” push a renewable energy agenda at the expense of “proper private sector-led development supporting jobs and entrepreneurship.”

While the AEC said it supported diversified energy mixes and wished to see cleaner energy developments across Africa, it noted that solar and wind projects were still relying on global value chains which restrain their ability to support local content development.

As a result, most solar and wind projects on the continent continue to have local content participation of less than 50 per cent.

“Such issues need to be at the core of the energy transition debate so Africa’s cleaner future does not serve only the interests of big multinational corporations but also translates into private sector development and opportunities in Africa. It is time to put the voices of African businesses at the center of the debate,” it explained.

  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn

Tags: AECAfrica energy transitionAfrican Energy ChambersEnergyIEA

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Kolawole Onasanya

Kolawole Onasanya

Related Posts

Nigeria to benefit from local Content in petroleum sector
Energy

Nigeria to benefit from local Content in petroleum sector

July 5, 2022
Nigeria's gas reserves hit 62 million barrels
Energy

Spike in cooking gas, kerosene prices and crave for substitutes

June 27, 2022
What Soludo’s emergence as governor-elect means to South East
Energy

Oil sector still unhealthy for Nigeria’s economy – Afrinvest MD

January 17, 2022
Soaring cooking gas price: No respite in sight for Nigerians
Energy

Soaring cooking gas price: No respite in sight for Nigerians

December 7, 2021
Why Nigeria's debt keeps increasing – Zakka
Energy

Why Nigeria can’t remove fuel subsidy – Zakka

November 11, 2021
Equatorial Guinea, African Energy Chamber meet on energy developments amid COVID-19
Energy

Nigeria wants military to help fight crude oil theft

November 8, 2021
Next Post
Fidelity Bank to release half-year result

Fidelity Bank to release half-year result


Naira4Dollar Rates
ADVERTISEMENT

RECENT STORIES

Nigeria to benefit from local Content in petroleum sector

Nigeria to benefit from local Content in petroleum sector

July 5, 2022
Cybersecurity: All you need to know

Cybersecurity: All you need to know

July 5, 2022
climate change

Public and private sectors’ role in financing climate change needs

July 4, 2022
NGX index, market cap depreciates by 2.18%

NGX ASI appreciates by 0.24% to halt two weeks’ bearish sentiment

July 4, 2022
APCON and war against false adverts

APCON and war against false adverts

July 2, 2022
Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya

Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya

June 28, 2022
Role of coop in tech startups empowerment

Role of coop in tech startups empowerment

June 28, 2022

TRENDING

  • 40 Nigerian students to get Nexford, Piggyvest scholarships

    40 Nigerian students to get Nexford, Piggyvest scholarships

    0 shares
    Share 0 Tweet 0
  • Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya

    2 shares
    Share 0 Tweet 0
  • APCON and war against false adverts

    0 shares
    Share 0 Tweet 0
  • Public and private sectors’ role in financing climate change needs

    2 shares
    Share 0 Tweet 0
  • Duty call as Anambra Governor

    0 shares
    Share 0 Tweet 0
Financial Street

© Financial Street 2021. All Rights Reserved.

More Links

  • Privacy Policy
  • Terms of Use
  • Contact Us

Follow Us

No Result
View All Result
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Posting....