Saturday, February 4, 2023
Smart Investor
No Result
View All Result
  • Home
  • Corporate
  • Energy
  • News
  • Policy and Politics
  • Technology
  • World
  • Smart Giver
  • Home
  • Corporate
  • Energy
  • News
  • Policy and Politics
  • Technology
  • World
  • Smart Giver
No Result
View All Result
Smart Investor
No Result
View All Result
Home Policy and Politics Opinion

Africa should decide how to harness its natural resources especially with gas

Africans have every right to decide how and when to use their natural resources without interference from the rest of the world, no matter how well-intentioned

by NJ Ayuk
March 7, 2021
in Opinion
5 min read
44 2
49
SHARES
147
VIEWS
Share on FacebookShare on Twitter

Pressure is building to phase out petroleum production in Africa to fight climate change. But harnessed strategically, Africa’s oil and gas industry can power a better future for Africa. Are calls to “keep it in the ground” really in Africa’s best interests?

Do a Google search for “Help Africa,” and you know how many results you’ll get?

1.7 BILLION. “Help children in Africa.” “African hunger and how to help”

Similar Stories You May Like

Bluebird Aviation: We are ready to ease flight disruptions with charter flights

Fly 748 takes up stranded KQ passengers, records influx in bookings

Fly 748 projects end year flight bookings boom

“Save Africa from climate change.”

There’s even a strategy for that last one: Keep Africa’s petroleum resources in the ground. The reasoning goes, if we produce fewer fossil fuels, we’ll emit less carbon and be better protected from climate change.

The international community is embracing that idea. BlackRock and Royal Bank of Scotland said they’re moving away from investments that support fossil fuel production.

The Organization for Economic Co-operation and the International Energy Agency go even further.

Seeing how the Covid-19 pandemic has affected oil markets, they say now is a golden opportunity to phase out fossil fuels and usher in an era of renewable resources, freeing developing countries in particular from “dirty energy sources.”

So much helping???????

OK, Global Community, here’s how I’d suggest helping Africa.

Stop.

Stop trying to apply your Western ideas and priorities to Africa’s needs, challenges, and aspirations.

Stop piling more aid on top of the billions of dollars that have been poured into the African continent for the last five decades with no results except helping you think of cleansing the guilt of limousine liberators in the name of helping these poor Africans.

And, please, please, stop attempting to dictate how Africa should use its own oil and gas resources. With the right strategies, a thriving African oil and gas industry is the key to alleviating widespread energy poverty, to bolstering economic growth and diversification, and, ultimately, to improving the lives of everyday Africans.

Africans have every right to decide how and when to use their natural resources without interference from the rest of the world, no matter how well-intentioned.

Carbon Emissions

What’s behind the vested interest in African oil and gas production? Does the world really have our best interests at heart? Sure, reining in greenhouse gas emissions is an admirable goal.

But consider this. Over the last 300 years,

  • all of Africa has emitted seven times less carbon dioxide than China,
  • 13 times less than the United States, and
  • 18 times less than the combined countries of Europe.

Attempting to phase out Africa’s oil industry to prevent climate change is like snuffing out a small, controlled campfire instead of focusing your attention on kilometers of blazing forestland.

Funny that the keep-fossil-fuels-in-the-ground argument is a Western construct, promoted by countries that developed their economies with fossil fuels. I will not name names.

The head of Africa oil trading for the multinational commodity-trading firm, Trafigura, said telling Africa not to develop its resources is akin to making Africa “pay for the sins” of other regions. I say, trying to dictate what Africa does with its own resources is insulting, hypocritical, and frankly, an overstep.

But you know what, I think there’s more going on here than just climate change concerns. The oil and gas industry has been painted as a bunch of bad guys that oppress people and steal resources. Wrong.

But if that’s true, how do you explain indigenous oil and gas industry companies that provide jobs and training opportunities for local residents, and partner with local suppliers? Same story for the international companies operating in Africa.

Africa ready for potential new COVID-19 wave, experts affirm

But on top of providing jobs, international companies also share knowledge and technology and often improve the communities where they operate.

Something else to consider: Many oil and gas companies are diversifying their portfolios to include renewable energy assets. In fact, some of them are at the forefront of research that could lead to new renewable energy technologies.

So, if the goal is to move Africa toward increased renewable energy usage a healthy oil and gas industry is a good and cost effective way to get there.

Does anyone care about energy poverty?

But the most important reason why Africa should be free to continue hydrocarbon production is this: Africa’s huge natural gas reserves are the continent’s best shot at alleviating energy poverty.

Today, more than 620 million people in sub-Saharan Africa don’t have electricity. That’s two-thirds of the population. Hundreds of millions more have unreliable or limited power.

What does that look like? Without electricity, you’re cooking your food and warming your home by burning wood, charcoal, or maybe even animal waste. Your regular exposure to indoor air pollution increases your risk of respiratory infections and chronic conditions.

If you need to go to the hospital for treatment, it will be by lantern light or, worse yet, in the dark. Equipment that requires electricity, like MRI machines and ventilators, is probably not an option.

And that’s just one aspect of your life. It doesn’t even touch on how a lack of electricity impacts your children’s school or limits economic growth in your community and your employment opportunities.

Gas-to-power technology which, incidentally, generate fewer CO2 emissions can bring reliable electricity to Africa. But we have to be allowed to unleash our resources, not constrain them.

The good news is, 13 African countries are using natural gas they produce themselves or import from neighboring nations to generate electricity. Yes, I know that renewable energy can help meet Africa’s power needs, too. But Africans shouldn’t be pressured to make either-or decisions in this area.

Energy poverty is a serious concern. Making the solution more difficult to address is simply wrong.

Freedom from aid

Now, let’s circle back to the idea that Africa needs everyone’s help. For more than 60 years, the world has poured financial aid into Africa. And where has that gotten us?

The Libyan oil industry’s story of recovery and what it means for the rest of Africa

We still have hunger. We still have poverty. We still have violence, infrastructure deficits…the list goes on.

There’s no question other nations and other people want to lift us up. But the net effect of their generosity has been to keep Africa under outside control.

To achieve autonomy, we start by monetizing of our oil and gas resources. This starts with using oil and gas as a feedstock to create other value-added products, like petrochemicals and fuel. Then we take the revenues to build infrastructure and diversify economies.

Senegal, Mozambique, South Africa, anzania, Nigeria, Cameroon, Algeria and Equatorial Guinea has started down this path. And with the right fiscal, tax and regulatory policies, they will be on their way to being a major players in the world’s LNG market.

Allowed to continue to use our resource wealth our way, other African countries can follow that lead. So, you see, Global Community. Africa doesn’t need you to help it. Africa doesn’t need you to decide how to best protect Africa from climate change. Nobody protects the environment better than Africans. Look at the emission numbers.

Kenyans in diaspora whets appetite for affordable housing

Africans need you to respect us and to understand that your perspectives, priorities, and solutions are just that: yours.

We have our own goals, and our own paths to get us there. If you’ll just stop trying to put up roadblocks, if you stop lecturing, you stop preaching to us, if stop talking to us and start talking and working and walking and do a little bit of listening, we’ll help ourselves from here and help you too.

-The writer is Executive Chairman of the African Energy Chamber, CEO of pan-African corporate law conglomerate Centurion Law Group, and the author of several books about the oil and gas industry in Africa.

Share20Tweet12SendShare3ShareSend
Previous Post

Infinix superwomen #ChooseToChallenge biases and misconceptions in tech industry

Next Post

748 Air Services launches five-day tourism fair to spur domestic tourism

Related Posts

The changing face of travel post-COVID-19 lockdown

January 21, 2021

The Libyan oil industry’s story of recovery – and what it means for the rest of Africa

November 17, 2020

Developing entrepreneurship in a digital economy

October 15, 2020

Why the legal profession must embrace change

September 17, 2020
Next Post

748 Air Services launches five-day tourism fair to spur domestic tourism

How digital immunisation system will help Chanjo Plus track 1.5 million at risk new-borns

ADVERTISEMENT

GET UPDATED ON TWITTER

MOST READ STORIES

First-time travellers boosting airline industry recovery

September 12, 2022

Fly 748 Managing Director takes on professional athletes in a Triathlon challenge

May 30, 2022

MYWO: Elect women leaders to address poverty and social vices in North Eastern region.

May 27, 2022

TikTok, CAF celebrates football talents with a fun Africa Day Challenge

May 26, 2022

FIND A STORY

No Result
View All Result

TOP STORIES

Fly 748 takes up stranded KQ passengers, records influx in bookings

November 7, 2022
Fly 748 Stand at Sarit Center

Fly 748 projects end year flight bookings boom

October 28, 2022

Nairobi West Hospital Eyes Medical Evacuations with new Helipad

September 5, 2022

CORPORATE

Bluebird Aviation: We are ready to ease flight disruptions with charter flights

November 7, 2022

Airlines collaborate to bolster safety post pandemic

October 21, 2022

Positive prospects for Kenya’s airline sector, after smooth transition of power

September 12, 2022

WORLD

From Left: Chinedu Okeke named MD, Universal Music Nigeria, Elouise Kelly appointed COO, Universal Music South Africa and Sub-Saharan Africa and Sipho Dlamini promoted to CEO, Universal Music South Africa and Sub-Saharan Africa

Universal Music Group announces Strategic Leadership Appointments within Africa

January 7, 2021

Kenya Rugby welcomes high performance consultant, Peter Harding

December 10, 2020

EABC: Harmonize and Reduce Charges at Rusumo One-Stop Border Post to Facilitate intra-EAC trade

December 3, 2020

© 2021 Smart Investor | Site by Michael

  • Get in Touch
  • Home
  • Privacy Policy
No Result
View All Result
  • Home
  • Corporate
  • Energy
  • News
  • Policy and Politics
  • Technology
  • World
  • Smart Giver

© 2021 Smart Investor | Site by Michael

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.