Business A.M
No Result
View All Result
Wednesday, March 4, 2026
  • Login
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
Subscribe
Business A.M
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
No Result
View All Result
Business A.M
No Result
View All Result
Home Energy

Africa should prioritise energy security over fossil fuel exit-Minister Lokpobiri

by Onome Amuge
February 15, 2026
in Energy, Frontpage
Africa should prioritise energy security over fossil fuel exit-Minister Lokpobiri

Africa must prioritise energy development strategies that balance hydrocarbons with emerging alternatives rather than prematurely shifting away from fossil fuels, Heineken Lokpobiri, Nigeria’s minister of state for petroleum resources (oil), said at the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026, arguing that energy security remains the continent’s most urgent economic constraint.

Speaking at the conference’s 10th anniversary gathering, Lokpobiri described the event as a platform for advancing solutions to persistent energy poverty across Africa. “This is not just an event that dwells on industry narratives; it is one that drives conversations fundamental to solving Africa’s energy poverty problems,” he told delegates, noting participation from more than 30 countries across the continent and beyond.

Africa holds substantial hydrocarbon reserves yet continues to face chronic electricity deficits, constrained industrial output and uneven access to modern energy. Lokpobiri said the challenge is less about resource availability than execution capacity, investment mobilisation and coherent policy frameworks capable of translating natural resource wealth into economic development.

“The problem has never been resource richness; the question has always been how we provide the solutions needed to convert those resources into reliable energy access,” he said, highlighting the role of indigenous service companies and regional collaboration in building technical capacity.

Lokpobiri also reiterated Nigeria’s call for a shift in global energy discourse from a narrow “energy transition” narrative toward what he described as a more realistic “energy mix” approach. According to him, developing economies require flexibility to utilise hydrocarbons alongside renewables while building infrastructure and industrial capacity.

“I have consistently argued that Africa must move the conversation from energy transition to energy mix. The continent should be allowed to responsibly develop its resources in an environmentally sustainable way for the benefit of its people,” he said.

Citing projections from international energy bodies, Lokpobiri said oil and gas are likely to remain central to global energy supply for decades. “Outlooks from major industry organisations suggest oil and gas will still account for over 50 per cent of global energy demand for the foreseeable future,” he said, adding that Africa has “not even scratched the surface” in harnessing its energy potential.

The minister linked energy access directly to industrialisation, healthcare delivery and broader socio-economic development, arguing that insufficient energy infrastructure continues to limit Africa’s competitiveness in global manufacturing and value-added sectors.

Industry participants at SAIPEC emphasised that financing constraints, regulatory consistency and technology transfer will determine whether African producers can capitalise on renewed global interest in hydrocarbons while also advancing lower-carbon energy systems.

Lokpobiri said Nigeria intends to strengthen cooperation with indigenous service providers, investors and regional institutions to accelerate upstream investment while improving refining, midstream infrastructure and domestic energy utilisation.

Onome Amuge

Onome Amuge serves as online editor of Business A.M, bringing over a decade of journalism experience as a content writer and business news reporter specialising in analytical and engaging reporting. You can reach him via Facebook and X

Previous Post

inDrive doubles Nigerian courier workforce as app-based delivery gains traction

Next Post

Problem with Nigeria: Revision of first-hand account of the AGSMEIS programme (1)

Next Post
KELECHI C. UDOCHUKWU

Problem with Nigeria: Revision of first-hand account of the AGSMEIS programme (1)

  • Trending
  • Comments
  • Latest
Igbobi alumni raise over N1bn in one week as private capital fills education gap

Igbobi alumni raise over N1bn in one week as private capital fills education gap

February 11, 2026

Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

November 20, 2017

How UNESCO got it wrong in Africa

May 30, 2017

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

Nigerian Exchange breaks N91trn mark as equities rally

NGX snaps rally as N101.9bn wipeout hits market cap

March 4, 2026
Oil market weighs softer U.S. demand against rising OPEC supply outlook

Oil rally pauses as U.S. jobs data offsets Hormuz war risk

March 4, 2026
Gas supply disruption to OML 18 cuts power supply across 9 Abia LGAs

Gas supply disruption to OML 18 cuts power supply across 9 Abia LGAs

March 4, 2026
PalmPay marks International Women’s Day 2026 with ‘Purple Woman 3.0’ tech masterclass

PalmPay marks International Women’s Day 2026 with ‘Purple Woman 3.0’ tech masterclass

March 3, 2026

Popular News

  • Igbobi alumni raise over N1bn in one week as private capital fills education gap

    Igbobi alumni raise over N1bn in one week as private capital fills education gap

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • Google, global partners roll out new standard for AI-powered payments

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

Nigerian Exchange breaks N91trn mark as equities rally

NGX snaps rally as N101.9bn wipeout hits market cap

March 4, 2026
Oil market weighs softer U.S. demand against rising OPEC supply outlook

Oil rally pauses as U.S. jobs data offsets Hormuz war risk

March 4, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us

© 2026 Business A.M