OPEC chief urges Africa to unlock 120 billion barrels of oil reserves and disregard ‘misguided policies’
The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, has urged African countries to unlock the continent’s oil reserves of over 120 billion barrels through increased investment.
Al-Ghais made the call on Tuesday while speaking at the ongoing Nigeria International Energy Summit (NIES) 2025 in Abuja, where he delivered a keynote address and participated in a high-level panel on “Driving Cross-Continental Investments: Scaling Africa’s Energy Frontier.”
The OPEC chief emphasized that Africa’s proven oil reserves of over 120 billion barrels underscore its crucial role in the global energy landscape.
“Africa will play a crucial role in our energy future. The continent’s proven oil reserves amount to around 120 billion barrels. The world will need more of this oil in the future. Therefore, it is critical that the African oil and gas industry attracts the level of investment necessary to unlock this great potential,” Al-Ghais stated.
Misguided Energy Policies Would Hurt Africa’s Energy Development
Al-Ghais warned against following “misguiding policy recommendations” and “overly ambitious” global energy targets, arguing that they could hinder Africa’s energy development.
The OPEC chief urged developing countries, particularly in Africa, to disregard what he described as “extreme and wishful thinking” in global energy discourse.
“In recent years, the world has been bombarded by a swathe of misguiding policy recommendations, overly ambitious targets, and arbitrary deadlines that amount to extreme and wishful thinking. If such calls were heeded, we can only shudder at the possible consequences for developing countries and Africa,” he said.
He advised African countries to be cautious when adopting global energy policies and targets, as these could have serious consequences for their economies.
Al-Ghais stressed the need for a balanced and realistic approach to global energy challenges, including delivering energy security, meeting rising energy demand, reducing emissions, and increasing energy access for those without it.
Context and Ongoing Debate
This warning from the OPEC chief comes amid growing debates on energy transition and the push for cleaner alternatives to fossil fuels.
Meanwhile, some energy experts and policymakers in Africa are advocating for a “just energy transition” that allows countries to develop their oil and gas resources while pursuing economic and development goals.
However, others argue that African nations should disregard calls for emission reductions and focus on harnessing their affordable fossil fuel resources.
Credit: Nairametrics
