African Petroleum Producers Organisation (APPO) Secretary-General, Omar Farouk Ibrahim, spotlighted key obstacles facing African oil producers: funding, technological knowledge, and market accessibility. In Abuja, at the third Africa Local Content Roundtable, he emphasized Africa’s production trend. Notably, it serves other regions more than itself, leading to reliance on foreign investments for its oil and gas ventures.
Harnessing available energy resources could elevate Africa to match developed countries. “Improving our people’s living conditions is vital,” Ibrahim argued. “Eradicating poverty is our goal.” Additionally, he stressed the importance of collective continental action. Individual efforts might not suffice, but unity is the key to progress.
NCDMB Executive Secretary, Simbi Kesiye Wabote, urged action at the event. Delegates should bolster research, development, and funding in the continent’s oil and gas sector. Furthermore, he highlighted the potential of the Africa Continental Free Trade Agreement (AfCFTA), boasting a 1.3 billion people market. Leveraging cross-border partnerships and brainstorming funding solutions were his main challenges to participants.
Wabote recognized the roundtable as pivotal for stakeholders. Its inception in Yenagoa and its contribution to local content awareness are commendable. Similarly, its impact on policy formation and the bolstering of local capabilities can’t be ignored. Moreover, he emphasized an immediate need for various foundational elements like a Regulatory Framework and Research & Development.
Sen. Heineken Lokpobiri stressed collaboration’s importance. Sustainable management in the oil and gas sector is the aim. “Our main goal,” Lokpobiri noted, “is fostering growth and energy security.” He urged the assimilation of roundtable insights. These, he believes, will guide nations in amplifying local content and socio-economic progress.
