• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Recapitalization
      • Access Holdings Offer
      • Fidelity Bank Offer
      • GTCO Offer
      • Zenith Bank Offer
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Nairalytics
  • Economy
    • Business News
    • Budget
    • Public Debt
    • Tax
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Funds Management
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Market Views
    • Op-Eds
    • Research Analysis
  • Home
  • Exclusives
    • Recapitalization
      • Access Holdings Offer
      • Fidelity Bank Offer
      • GTCO Offer
      • Zenith Bank Offer
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Nairalytics
  • Economy
    • Business News
    • Budget
    • Public Debt
    • Tax
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Funds Management
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Market Views
    • Op-Eds
    • Research Analysis
Nairametrics
Home Sectors Energy

Petroleum group says 75% of oil produced in Africa ends up in other continents 

Cyrus Ademola by Cyrus Ademola
May 14, 2024
in Energy, Sectors
Turkey set to drill oil off Somali coast from 2025
Share on FacebookShare on TwitterShare on Linkedin

The Secretary-General of the African Petroleum Producers Organisation (APPO), Omar Farouk Ibrahim, has said that nearly 75% of oil produced in Africa is exported to other continents for energy consumption.  

Ibrahim made this disclosure during the Mozambique Energy and Industry Summit held in the southeastern African country.  

The Secretary-General also said about 40% of the gas produced daily on the continent ends up in countries like Europe and America.  

MoreStories

2025 UTME: JAMB to investigate mass complaints over low scores and technical issues 

JAMB releases 1.26 million UTME results, full guide on how to check results 

April 20, 2026
Lagos plans N500 entertainment tax, eyes N20 billion annual revenue 

Lagos unveils cybersecurity guidelines as Nigeria’s cybercrime losses hit $500 million

April 20, 2026

According to him, oil and gas are treated as export commodities from the moment they are discovered on the continent. 

He noted that this is why the largest proportion of the African population continues to live in energy poverty because the continent focuses only on exporting oil and gas.  

Ibrahim pointed out that nearly one billion of Africa’s 1.49 billion population lack access to clean energy for cooking and other domestic uses,  adding that 600 million of the population do not have access to electricity. 

“The final challenge is markets for our oil and gas. 75% of the oil and 40% of the gas that Africa produces daily are exported outside Africa.  

“This is because oil and gas have been treated as export commodity from the very first time they were discovered on our continent. They were not seen as commodities that should benefit primarily the people of the continent, but outsiders.  

“That is why today Africa exports oil and gas even when it has the largest proportion of its population living in energy poverty.  

“Nearly 1 billion of Africa’s 1.49 billion population do not have access to clean energy for cooking and other domestic uses. Over 600 million of our population do not have access to electricity,” he said.  

Africans to solve Africa’s energy poverty challenges  

The Secretary-General emphasized that only Africans can tackle the energy poverty challenges facing the continent. 

He stated that the continent must develop the capacity, skills, resources, and technology to refine energy production and distribution, ensuring easy accessibility for its rapidly growing population. 

According to Ibrahim, Africa holds 125 billion barrels of proven oil reserves and over 600 trillion cubic feet of proven gas reserves, all of which can be utilized to eradicate energy poverty in the continent. 

“So, what is Africa doing to ameliorate these challenges? Are we prepared, as a continent, and as oil and gas-endowed nations to abandon the over 125 billion barrels of proven oil and over 600 trillion cubic feet of proven gas reserves in our soil, even when our continent has the largest proportion of its population living in energy poverty?  

“We should take full control of all operations of the industry from financing to technology and energy market infrastructure,” Ibrahim added. 

Funding Energy in Africa  

Moreover, he therefore urged oil-rich countries to partner together through credible financial institutions to fund infrastructural projects across the continent to drive energy development.  

He also challenged countries to task foreign nations to channel climate funds to clean the mess they created in Africa by polluting the atmosphere with over 2,500 gigatons of emissions over a period of 150 years.   

“Stop looking forward to receiving a pittance from the countries of the North who destroyed our common patrimony, namely the common atmosphere by polluting it with over 2,500 gigatons of emissions over a period of 150 years.  

“Ask them to commit to removing just 25% of the legacy emissions they have put out there. That way, the imminent danger we face today will be removed and Africa can use the same fossil fuels to also get industrialized,” Ibrahim said.  


Add Nairametrics on Google News
Follow us for Breaking News and Market Intelligence.
Tags: APPOMozambique Energy SummitOmar Farouk Ibrahim
Cyrus Ademola

Cyrus Ademola

  • Cyrus Ademola is an energy and economy analyst with over half a decade experience in journalism, research-based oped, economic reportage and energy analysis. His works have been featured on different media outlets, covering from oil and gas to business trends.

Next Post
Tinubu, Nigeria, World Bank

Eight SSA countries surpass Nigeria in attracting private infrastructure investments in 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

rabafast

nairametrics




DUNS

Follow us on social media:

  • HOME
  • ABOUT NAIRAMETRICS
  • CONTACT US
  • DISCLAIMER
  • ADs DISCLAIMER
  • COPYRIGHT INFRINGEMENT

© 2026 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Recapitalization
      • Access Holdings Offer
      • Fidelity Bank Offer
      • GTCO Offer
      • Zenith Bank Offer
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Nairalytics
  • Economy
    • Business News
    • Budget
    • Public Debt
    • Tax
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Funds Management
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Market Views
    • Op-Eds
    • Research Analysis
  • Login
  • Sign Up

© 2026 Nairametrics