African Energy Week: Investment, Energy Transition Top the Agenda

The African Energy Chamber (AEC) is reaffirming its commitment to Nigeria with a planned visit by AEC Executive Chairman NJ Ayuk on the 5^th-10^th July 2021. With the goal of supporting Nigeria in its efforts to pass the Petroleum Industry Bill, market the country as a premier investment destination, and promote African Energy Week (AEW) 2021 as the ideal networking platform for Nigerian oil and gas companies, Ayuk is prioritizing pan-African partnerships and continent-wide energy growth.

Committed to African-focused dialogue, Ayuk’s visit will comprise private meetings with both government representatives, National Oil Company leaders, and private sector executives. Additionally, the AEC will host a cocktail event for the Nigerian business community, prioritizing networking and partnerships as a form of prelude to AEW 2021.

“Nigeria represents a particularly lucrative market whereby investment and development should be directed. The AEC is a firm believer in partnerships and collaboration among Africa’s energy sector and is, therefore, reaffirming a commitment to Nigerian people and Nigerian energy,” stated Ayuk.

With over 187 trillion cubic feet of natural gas reserves, Nigeria has the potential to drive energy accessibility and security, boost job creation and industrialization, and spur socioeconomic growth across the entire region. In response to growing opportunities within the natural gas sector, Ayuk – accompanied by Florival Mucave, Executive Chairman of the Mozambique Oil and Gas Chamber – will be visiting various gas projects and developmental sites across the country. By focusing on productive dialogue regarding effective gas monetization and utilization, both Ayuk and Mucave aim to establish long-term partnerships with Nigerian companies and leaders in a bid to fast-track energy sector growth and poverty alleviation across the entire continent.

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“With amazing talent and an exceptional skills set, and by fostering true partnerships with the right companies, Nigerian oil and gas companies can inspire other African companies in the energy sector to grow. It is through these partnerships where we will see increased energy independence and private sector growth across Africa,” continued Ayuk.

Throughout the visit, Ayuk will drive a discussion around the African energy transition, reaffirming the value of inclusivity and equity within Nigeria’s just transition. Recognizing the different economic realities both globally and across Africa, Ayuk is focused on collaborative dialogue with regards to Nigeria’s proposed strategies to achieve net-zero emissions by 2050.

Additionally, the visit will comprise key discussion topics such as African local content and intra-African trade – with particular focus on trade between African nations. Ayuk’s visit is intended to not only demonstrate the AEC’s ongoing support, but to help drive investment and development in one of Africa’s most esteemed oil and gas markets. By prioritizing private sector intra-African expansion, and motivating increased participation by Nigerian companies in the wider African energy market, Ayuk is emphasizing the role of the private sector in fast-tracking continent-wide energy success.

With the launch of AEW 2021 in Cape Town on the 9^th-12^th of November 2021, Ayuk is committed to uniting global investors with Nigerian oil and gas opportunities. By focusing on networking and partnerships, and presenting a platform whereby global stakeholders and industry leaders can make decisions regarding Africa’s energy future, AEW 2021 recognizes Nigeria’s role and significant contribution to Africa’s energy sector success.