Stakeholders in Energy sector have called for urgent actions that will ensure the development of an inclusive energy transition plan for Africa.
The stakeholders are the Organisation of Petroleum Exporting Countries (OPEC), African Refiners and Distributors Association (ARDA), and African Energy Chamber (AEC).
They made the call during a virtual meeting attended by the Secretary General of OPEC, Dr. Sanusi Barkindo, Minister of Mines, Petroleum and Energy of the Republic of Cote D’Ivoire, Thomas Camara and others key speakers from various international organisations.
They agreed that Africa must not be rushed to join the global campaign against fossil fuels, stressing that the continent and its key stakeholders must work together to address its energy challenges and design a roadmap against the backdrop of its growing population.
Barkindo, who spoke at the event, stated that while OPEC’s World Oil Outlook projects cumulative oil-related investments of $11.8 trillion till 2045, broken down into $9.2 trillion for upstream, $1.5 trillion for downstream and $1.1 trillion for midstream, under-investment poses challenges that may worsen the global energy crisis.
