Heineken Lokpobiri, minister of state for petroleum resources (oil), has urged African countries to co-develop infrastructure and channel investments into refining, storage, transportation, and distribution, to collectively address the continent’s needs.
Lokpobiri spoke at the 7th African Petroleum Producers’ Organisation (APPO) National Oil Companies CEOs Forum on Monday.
“The issue of energy poverty, energy availability, affordability, accessibility is not just a problem of one African country; it’s a continental problem. From the data available, what Africa spends in importing hydrocarbons to the continent is over $100 billion per annum,” he said.
“We have a challenge where we produce crude, we send it outside the continent, it is refined and sold back to us. And we are spending tens, if not hundreds of billions per annum.
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“So the time has come for us as countries to co-develop some kind of infrastructure, investments in refining, storage, transportation, and distribution, so that we will be able to collectively provide the solution that is needed by Africans.”
The minister said Nigeria recently launched the “West African reference market” to leverage its refineries in producing the supplies needed for the West African sub-region.
“The Paris Agreement has nothing to do with abandoning any source of energy. The Paris Agreement has nothing to do with abandoning fossil fuel as a source of energy. Paris Agreement is about reducing CO2 emissions,” Lokpobiri said.
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“Africa, nobody will help us. It is Africans that will help ourselves.
“We have an abundance of opportunity. Africa, with a population of over 1.5 billion people, we have the market. Most of the refined products in other parts are also targeted to the African market.”
The minister urged African leaders to work towards attracting international companies to invest and establish refineries in Africa, thereby enhancing value addition and retention, ensuring that the continent addresses its energy challenges in its own distinctive way.
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