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The AfricEnergy Board, Chaired by Dr Emmanuel Ibe Kachikwu, Nigeria’s immediate past Minister of State for Petroleum Resources and former OPEC and APPO President, has voiced its support for the Ghanaian Government’s desire to continue investing in its local content and urged the government to open its doors to African energy players to invest.

Afric Energy believes that while African local content has great potential, and even as the world looks to develop alternatives to oil, Africa must seize this opportunity to close the economic gap between Africa and advanced countries by adequately investing in its local content, and praised Ghana’s decision as “the best decision for National growth”.

The Board urges Ghana’s government to allow other African investors into the country, while encouraging African investors to consider making the bold move to invest in Ghana and other African energy projects, to fulfil the African dream of self funding.

Chairman, Dr Kachikwu also lauded Ghana’s existing Local Content Law, which urges the government to prioritise the employment of Ghanaians in the petroleum industry, and urged the government to seek African investors in order to continue to promote value-adding, job creation, and economic growth.

He said, “Ghana’s statistics indicate that the country has the potential to become one of West Africa’s largest participants in the energy market. Local material must be prioritised for a country to attain its full potential, and Ghana’s government’s continued commitment to including local content is a step in the right direction.”

“I am confident that in a few years’ time, Ghana will emerge as a major participant in the continent’s energy sector,” he added.

Dr Ibe Kachikwu, Former Minister of State Petroleum Resources, Federal Republic of Nigeria/Former President of OPEC, GECF and APPO

The Chairman of Afric Energy, and Nigeria’s Former Minister of State Petroleum Resources, Dr Emmanuel Ibe Kachikwu, will give a keynote speech at the Nigeria International Energy Summit (formerly Nigeria International Petroleum Summit) 2022, a platform for the world to meet the industry energy players and other relevant stakeholders in Nigeria.

With the ongoing reforms in the Nigerian oil and gas sector and improved engagement with host communities and as the erstwhile Minister of State for Petroleum Resources with in-depth knowledge of the Nigerian and African oil sector, Dr Kachikwu will be pushing for the inclusion of local content in the energy transition during his speech at NIES, which also aligns with Afric Energy’s theme for 2022 “African Local Content and the Energy Transition.

Afric Energy supports the organisers of the NIES, Brevity Anderson and continues to push for forums where African energy sector leaders can engage and discuss ways to exploit the resources in the African continent.

The NIES is to take place in Abuja, Nigeria, from 27th February – 3rd March 2022, with events to hold in the State House, Abuja, and the International Conference Centre (ICC).

REGISTER TO ATTEND THE NIGERIA ENERGY SUMMIT 2022

Afric Energy has called on African Nations to support the Africa Energy Investment Corporation (AEICORP) in its plan to raise $500M this year to enable it to become fully operational from the second half of the year.

This comes after the Managing Director of the Corporation, Zakaria Dosso, in the January issue of PAV Magazine, said that the Corporation is planning to raise the money and commence operation in H2 of 2022. He said: “We expect to raise at least 500 million US dollar equity from African countries, financial institutions, sectors’ companies, sovereign funds, pension funds, etc.”

Afric Energy is campaigning for growth in the African energy sector and believes that by countries subscribing to AEICORP and helping to raise the required fund, the continent will be on its way to creating and fostering opportunities that build integrity-driven pathways and deliver the most competent resources and opportunities to succeed to African companies, which are People, Technology, Financing and Networks.

The Chairman of AfricEnergy, Dr Emmanuel Ibe Kachikwu, was the Minister of State for Petroleum Resources in January 2019 when AEICORP was established and played a very important role in the APPA reforms that led to the creation of AEICORP.

Dr. Kachikwu who was the President of APPO and oversaw the formation of AEICORP from the then APPA Fund, has advised African Nations to key into AEICORP especially at the early stages of the Corporation. Subscribing to AEICORP is a way to protect African nations from social and economic dangers in light of reduced international funding of African hydrocarbon projects.

With the 6^th edition of the Sub Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) coming up in February 2022, AfricEnergy has called on Nigerian oil and gas industry players to hold take advantage of the Conference and hold tough discussions to address several issues affecting the growth of the African oil and gas sector.AfricEnergy called on private players to utilize this platform and align with Government agencies as well as international companies that will be present to grow regional cooperation in the African hydrocarbon sector.