African Oil & Gas Sector Holds Great Potential to Revive Economy
Posted on : Monday, 23rd September 2019
As African economies are experiencing a transformative period, the energy sector holds huge potential to revitalise African economies and empower the growth and development.NJ Ayuk derives how energy holds on the African dream.
In a very straight forward approach, the executive chairman of the African Energy Chamber briefs on the fortunes and misfortunes in Africa’s petroleum industry and presents to us that Africa can learn from itself to build competitive economies. He said, “If African governments, businesses, and organizations manage Africa’s oil and gas revenues bravely, we can make meaningful changes across the continent.”
Taking into consideration his experience and knowledge of the global energy sector, Ayuk challenges major players to be more active in developing their resources and local content skills and encourages decision-makers to put Africa’s people at the centre of economic growth plans.
Making the case for the petroleum industry having the power to support and transform emerging economies, he discloses major points including what and how Africa can learn from itself, the role of natural gas in Africa’s energy future, effective and sustainable investment strategies, strategic oil and gas revenue management and the role of women in the African petroleum sector.
The latter he contend is vital in the success of Africa’s oil and gas sector.
Ayuk said, “Africans are more than capable of making our continent successful.” However, global participation in the African energy landscape can produce greater benefits. Speaking on the US-Africa relations specifically, he said that Africa needs companies that are willing to share knowledge, technology and best practices, and businesses that are willing to form positive relationships in areas where they work.
This is just a subject NJ Ayuk dives into in great detail in his sophomore book Billions at Play: The Future of African Energy and Doing Deals.
