ENB Pub Note: The following is an excellent article from the Africa Report with NJ Ayuk, from the African Energy Chamber. I just interviewed NJ on the Energy News Beat Podcast, and the staff will be rolling out in the next week. Africa First is a humanitarian theme.
We sat down with the head of the African Energy Chamber NJ Ayuk, who defended the exploitation of fossil fuel resources, criticised pressure from Western countries and told us about the priorities of African producers.
NJ Ayuk, the former head of the South African law firm Centurion Law Group, is now pinning his hopes on the development of oil and gas fields on the African continent. As president of the African Energy Chamber (AEC), this Cameroonian oil lobbyist is behind a number of key events in the African oil industry.
From African Energy Week in Cape Town to the Invest in African Energy Forum in Paris, Ayuk brings together African politicians, public and private sector bosses and international investors to unblock stalled projects and boost investment.
The author of two books on African black gold – Billions at Stake, the Future of Energy and Business in Africa and A Just Transition: Abolishing Energy Poverty Through an Energy Mix – the AEC president took to the podium after COP28 to call on African decision-makers to reject anti-fossil fuel policies.
At a time when hydrocarbons no longer enjoy good press, Ayuk still believes that “Africa must firmly keep its promise to use oil and gas to improve the lot of its people”. He spoke to us about the hot issues in the sector.
Investment in the oil sector is falling sharply. Can African producers reverse this trend?
There are a number of strategies they can use to overcome the shortage of international investment in fossil fuels and diversify their sources of funding: bilateral agreements, regional partnerships or working with private investors.
Public-private partnerships are a collaborative approach, where governments and private companies share risks and responsibilities. Another option is to encourage domestic investment in order to create favourable conditions for the participation of local companies and stimulate economic growth.
Africa is capable of financing its own future
Energy News Beat