African Energy Forum: Defending the Right to Develop

By NJ Ayuk

I will be speaking at the upcoming Invest in African Energy Forum, where we will continue to confront a growing push from global institutions and developed nations to halt new foreign investments in Africa’s oil and gas sector – a campaign that the African Energy Chamber has resisted for over a year.

In recent months, environmental organizations, financial institutions, and governments from Europe and North America have intensified calls for developing countries – including those across Africa – to abandon fossil fuels and rapidly transition to renewable energy sources such as solar, wind, and hydrogen. Their stated goal is to mitigate the worst impacts of climate change.

Yet it’s difficult to ignore the irony: many of these demands come from industrialized nations whose own economies were built on decades – sometimes centuries – of fossil fuel development. Now, they seek to deny African countries the same opportunity to harness their natural resources for economic growth and energy security.

The reality is that African nations sit atop vast reserves of oil and gas – resources that, if responsibly developed and properly monetized, can fund infrastructure, education, healthcare, and sustainable development for generations to come.

Why International Partnerships Still Matter

We have made our position clear: African countries, businesses, and communities still require the support of international oil companies (IOCs), foreign governments, and investment institutions to develop their hydrocarbon resources. These partnerships are not relics of the past – they remain essential for knowledge transfer, workforce development, and technological advancement.

Moreover, foreign investment in oil and gas creates critical revenue streams that can be reinvested into modernizing energy infrastructure – for both traditional and renewable sources. Importantly, investment in natural gas also opens the door to gas-to-power initiatives that can help end the continent’s persistent energy poverty.

Financing Africa’s Future – On Our Own Terms

By building homegrown solutions and attracting private capital to finance energy projects, Africa sends a powerful signal to the global market: we are not passive recipients of aid or policy dictates – we are emerging leaders in energy development and investment. We are advancing natural gas production and infrastructure while simultaneously supporting low-carbon technologies and markets.

With the right financing in place, African companies won’t just produce oil and gas – they will drive local community development, catalyze green energy markets, and create thousands of meaningful jobs.

For many African nations, the oil and gas industry represents our best chance to provide millions of Africans with the employment opportunities, living standards, and stability that industrialized nations have enjoyed for more than a century. That future is within reach – and we must remain steadfast in pursuing it.