Africa’s Gas Revolution Hinges On Strategic Policy Framework– Ekpo

Minister of state for Petroleum Resources (Gas), Ekperikpe Ekpo, has called for a robust and strategic policy framework to unlock Africa’s vast gas resources and ensure energy security, economic diversification, and sustainable industrialisation.

Speaking at the Nigerian International Energy Summit (NIES) in Abuja on Thursday, Ekpo stated that with over 600 trillion cubic feet of proven natural gas reserves, Africa holds significant potential for energy security, economic growth, and sustainable development.

However, he noted that unlocking this potential requires more than just resources – it demands a well-designed policy framework that fosters investment, innovation, and infrastructure development.

The Gas minister identified several policy imperatives that must be prioritised, including: Clear Regulatory Frameworks to encourage local and foreign investment in gas exploration, production, processing, and distribution; infrastructure Development: expansion of Liquefied Natural Gas (LNG) terminals, pipelines, and domestic gas distribution networks; Local Content and Capacity Building to promote local participation and skills development in the gas sector; Sustainable Environmental Policies to reduce gas flaring, adopt carbon capture technologies, and incentivize green energy projects; and Regional Integration and Trade Policies to enhance intra-African trade in gas and energy productsWhile acknowledging the vast opportunities in Africa’s gas sector, Ekpo also highlighted several challenges that must be addressed, including financing constraints, security and stability concerns, infrastructure deficits, and domestic gas market development.

To overcome these challenges, Ekpo emphasised the need for innovative financing models, infrastructure expansion, and regional collaboration. “It is a well-known fact that large-scale gas projects require significant capital investment, yet access to finance remains a challenge for many African nations. Innovative financing models, including gas monetization schemes and blended finance, must be explored.”

RELATED

Consumers Paid N21,010 For 12.5kg Cooking Gas In June – NBS

21 hours ago

Insurers To Recapitalise as Tinubu Signs Insurance Reform Bill Into Law

21 hours ago

Ekpo concluded by noting that the future of Africa’s gas sector lies in the hands of its stakeholders.

“The future of Africa’s gas sector is in our hands. As policymakers, industry leaders, and stakeholders, we have a collective responsibility to create an enabling environment that fosters sustainable gas development. Through strategic policies, regional collaboration, and innovative solutions, we can transform Africa into a global energy powerhouse.”