The Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, has called on Africa to harness its vast oil and gas resources to drive investment and economic growth.
Speaking at the Nigeria International Energy Summit 2025 in Abuja on Tuesday, Al-Ghais emphasized Africa’s potential, with over 120 billion barrels of proven oil reserves and approximately 18 trillion standard cubic meters of natural gas.
“The world will need more of this oil in the future. It is critical that Africa’s oil and gas industry attracts the necessary investment to unlock this great potential,” he stated.
Al-Ghais cautioned against neglecting Africa’s energy resources in favor of the global energy transition agenda, stressing that the continent must balance sustainability with economic development.
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He commended Nigeria’s contributions to OPEC and encouraged investors to explore opportunities in the country’s oil and gas sector.
He also highlighted the strong partnership between OPEC and Africa, noting that half of OPEC’s member countries come from the continent, including Nigeria, Algeria, Libya, and Equatorial Guinea.
With the oil industry requiring $17.4 trillion in investments by 2050, Al-Ghais stressed the need for market stability to attract capital and ensure long-term growth.
The ongoing Nigeria International Energy Summit, themed “Bridging Continents: Connecting Investors with Africa’s Energy Potential”, runs from Monday to Thursday in Abuja.