By Adaobi Rhema Oguejiofor
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari, has said that in order to ensure the sustainability of Africa’s energy sector, countries within the continent must take advantage of the implementation of the African Continental Free Trade Agreement (AfCFTA) to diversify their energy sources into a sustainable low-carbon energy mix.
Kyari said this during his keynote address at an event with the theme “Energy Transition in Africa: The Journey, Challenges and Way Forward,’ which was organized on the sidelines of the Offshore Technology Conference (OTC) happening Texas,. USA.
The GCEO, who was represented by NNPC’e Executive Vice President, Upstream, Adokiye Tombomieye, at the event described the theme as being suitable and applicable because the journey towards energy transition in Africa has been a challenging one.
He also emphasized the need for the African Union (AU) to embrace a common position on energy access and fair transition, which he said is a comprehensive approach that charts Africa’s short, medium and long-term energy development pathways.to quicken universal energy access.
According to him, AfCFTA is one of the flagship schemes of agenda 2063 and it is a high ambition trade agreement that has a comprehensive spectrum, which includes essential areas of Africa’s economy, like digital trade and investment protection, among others.
Kyari also expressed worry that despite being home to some of the world’s largest oil and gas reserves, Africa has struggled to leverage on these resources to fully drive sustainable development.
The NNPC Boss maintained that lack of access to reliable and affordable energy has immensely hindered economic growth and development on the continent, particularly in the rural areas.
He further stated that although the African petroleum industry has greatly contributed to the continent’s economic growth for several decades, there is a need to ensure its sustainability.