Africa must begin to take its destiny into its own hands and cannot leave over 125bn barrels of oil and 620trn cubic feet of gas stranded.
That was the view of Dr. Omar Farouk Ibrahim, Secretary General of the African Petroleum Producing Organisation, speaking at the opening of the 2022 edition of African Energy Week.
Dr. Ibrahim said that since the traditional financiers of oil and gas projects in Africa announced their commitment to ending fossil fuel financing in Africa, “we have become very worried”.
He said, “Our economists and financial gurus have mostly failed us and the cost of this failure is easy to face. Capital can be found in many other places, including our own so-called poor countries. It is a matter of prioritising our expenditure.”
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