Lawmaker representing Kogi Central, Senator Natasha Akpoti-Uduaghan has called on African leaders to prioritise financing technical innovation and products for the energy sector.
This call to action supports the International Energy Agency’s vision for Africa to double its energy investment to $200 billion annually by 2030. This investment will also help African countries meet their nationally determined contributions to combat climate change.
As a senator and advocate for energy development, she understands the importance of self-sufficiency in the energy industry for Africa’s growth.
Sen Akpoti-Uduaghan emphasised the need for Africa to take control of its energy destiny through the proposed Africa Energy Bank.
“The only way to change the narrative of Africa from being a ground for exploitation is by taking and leading the charge of oil and gas productions.
“Research and development must lead to the production of technologies manufactured in African soil. That way we keep the monies ordinarily spent on importing the equipment and skilled experts,” she stressed.
African Energy Week conference is currently underway in Cape Town, South Africa, bringing together energy policymakers, companies, and investors from across the continent. This year’s event promises to be a game-changer, with a focus on financing technical innovation and products for the energy sector.
The African Petroleum Producers Organisation (APPO) is set to establish the Africa Energy Bank, with plans to launch in mid-2025. This bold initiative aims to reduce Africa’s reliance on foreign funding for oil and gas projects, promoting regional connectivity and empowering African communities.