By Ajong Mbapndah L
There is a certain urgency in the way NJ Ayuk speaks about Africa’s energy future — not the urgency of scarcity, but of opportunity on the brink of transformation. Across the continent, the signals are unmistakable: new discoveries lighting up frontier basins, billion-dollar investments reshaping production landscapes, and African nations steadily reclaiming control over their energy destiny. From Lagos to Luanda, from Dakar to Dar es Salaam, from Freetown to Nouakchott , from Brazzaville to Windhoek, from Malabo to Kampala and others, the narrative is shifting away from promise. toward power. A wave of licensing rounds, fresh drilling campaigns, landmark project approvals, and first cargo exports is redefining Africa’s position in the global energy system in real time.
Yet Ayuk is not content with momentum alone. Over the past year, he has pushed the boundaries of what African energy diplomacy can look like. In a bold and unconventional move, the African Energy Chamber led a high-level delegation to Venezuela — a strategic outreach aimed at forging South–South alliances, unlocking technical cooperation, and repositioning Africa not just as a destination for capital, but as a partner with leverage.
At the same time, the Chamber has intensified what can only be described as a crusade — a forceful push for local content, African participation, and equity across the energy value chain. For Ayuk, this is no longer a policy discussion; it is a line in the sand. Who benefits from Africa’s resources is now as important as how they are developed — and the era of Africa standing on the sidelines of its own wealth is, in his view, over.
As Executive Chairman of the AEC, Ayuk stands at the center of these shifts — part strategist, part advocate, part disruptor. He is both a witness to and an architect of a rapidly evolving energy narrative — one that challenges the long-held assumptions of dependency, delay, and the so-called resource curse, while pushing for an Africa that refines its own fuel, finances its own projects, and builds its own industrial backbone.
In this wide-ranging and unflinching interview, Ayuk reflects on a year of remarkable momentum across Africa’s oil and gas sector, confronts the regulatory bottlenecks and project delays that continue to slow progress, and lays out a vision for an Africa that finances, refines, and ultimately defines its own energy future. He also offers insight into the growing geopolitical stakes shaping investment flows, the Chamber’s bold stance on inclusion and empowerment, and what to expect from African Energy Week 2026 — the continent’s premier platform for deal-making and strategic partnerships.
Over the past year, how would you assess the state of Africa’s energy sector in terms of progress, challenges, and future potential?
Africa’s energy sector continues to demonstrate strong growth momentum. The past year has been marked by a wave of new discoveries, production launches, final investment decisions (FIDs) and licensing rounds aimed at expanding the continent’s hydrocarbon reserves and unlocking new upstream opportunities.
Several countries – including Nigeria, Angola, Libya and Egypt – launched licensing rounds in 2025 offering multiple exploration blocks to international investors. At the same time, markets such as **Equatorial Guinea, Gabon, Ivory Coast, Tanzania, Senegal and Mauritania are expanding upstream opportunities through open-door policies and direct negotiations with investors.
The continent also recorded several large-scale discoveries across key markets including Egypt, Algeria and Angola, while appraisal campaigns and new drilling programs advanced across multiple basins.
Investment momentum has also been reflected in major project sanctions. Recent FIDs include the Coral Norte FLNG Project in Mozambique and the Usan Deepwater Oil Field Development in Nigeria, among others.
Meanwhile, Senegal and Mauritania exported their first cargo from the Greater Tortue Ahmeyim Phase 1 project, marking a milestone for the emerging gas province along the West African margin. In Republic of the Congo, the launch of Congo LNG Phase 2, developed by Eni, further strengthened the region’s LNG export capacity.
Despite these achievements, project delays remain one of the most significant challenges facing Africa’s energy sector. Addressing regulatory bottlenecks and streamlining permitting processes will be critical to accelerating project development timelines.
The African Energy Chamber remains committed to working with governments across the continent to reduce red tape, accelerate approvals and create an enabling environment that attracts greater private sector investment to drive sustained growth across Africa’s oil and gas industry.
Africa’s oil and gas sector has long been linked to the “resource curse.” Is that narrative changing, and are governments doing enough to turn resources into real economic development?
African economies are positioning themselves to maximize the value of their natural resources by expanding refining capacity and accelerating project development to capitalize on strong short- to medium-term energy demand.
In Angola, several refinery projects are advancing – including the Cabinda Refinery, Soyo Refinery and the Lobito Refinery – to strengthen domestic fuel processing capacity.
Senegal plans to commence construction of the SAR 2.0 Refinery Project in 2026, targeting a 2029 start-up that will expand the country’s refining capabilities.
In Nigeria, the Dangote Petroleum Refinery reached its full production capacity of 650,000 barrels per day in February 2026, positioning the facility as one of the largest refineries in the world and enabling exports of refined products to markets across Africa.
These are the type of progress the continent must continue to pursue to ensure that Africa’s natural resources drive industrialization, support regional energy security and strengthen intra-African energy trade. Recent geopolitical disruptions, including the Russia–Ukraine War and tensions involving the United States, Israel and Iran, underscore the importance of reducing dependence on external commodity supplies and strengthening Africa’s domestic energy systems.
Greater emphasis should also be placed on local content development and the empowerment of women across the energy value chain.
Global geopolitics continues to shape energy markets. How could tensions involving Iran and the wider Middle East affect African producers and investment flows?
Africa has long demonstrated its potential to support global energy stability. During the early days of the Russia–Ukraine War, Europe increasingly relied on energy supplies from Algeria, Nigeria, Mozambique and Republic of the Congo. The ongoing geopolitical tensions in the Middle East underscore the importance of supply diversification, and Africa is well positioned to benefit. We anticipate a continued influx of European, Asian, and Chinese investments into the continent’s oil and gas sector as global markets seek reliable and resilient sources of energy.
The African Energy Chamber recently visited Venezuela. Why was this trip important at this moment? What key lessons can African countries draw from the Venezuelan energy experience, both its successes and challenges?
Venezuela has more than a century of experience in the oil and gas industry and holds some of the largest proven oil reserves in the world. This deep resource base and long history in exploration, production and refining present a valuable opportunity for African energy economies to deepen cooperation, leverage technical expertise and strengthen workforce development.
With ongoing plans to develop 1,000 wells and a legacy of over 20,000 drilled wells in Venezuela’s oil and gas basins, African producers could gain insights into large‑scale upstream development, reservoir management and heavy crude handling – areas critical for unlocking value in emerging African basins.
The Venezuelan government, through its state‑owned oil company, Petróleos de Venezuela S.A. (PDVSA) and relevant ministries are interested in strengthening ties with African partners. The Chamber plans to engage 10 to 15 African stakeholders in specialized technical training programs at Venezuela’s University of Hydrocarbons.
Venezuela has also indicated interest in exporting liquefied petroleum gas to support Africa’s clean cooking and energy security goals, creating potential win‑win energy trade opportunities.
The Chamber has taken a stronger stance on diversity and local content in the energy sector. What prompted this push?
The African Energy Chamber is committed to pushing for stronger local participation, and we continue to engage industry players to ensure policies and practices reflect this priority.
Experience shows that economies that empower women achieve the most sustainable growth. Africa cannot afford to leave women behind in the quest to end energy poverty. Women are among the most affected by energy insecurity, and a just and inclusive energy transition must prioritize their empowerment. Similarly, we are advocating for greater inclusion of black professionals across the oil and gas value chain, ensuring that resource exploitation delivers tangible benefits to African communities.
Africa must no longer be a bystander while foreign entities extract resources and export profits to benefit their economies, leaving our people in poverty and energy insecurity. The era when Africans were excluded from discussions about African resources is over. Foreign companies must employ Africans, and international platforms must include African voices at the table. In this regard, the Chamber is supporting a boycott of the African Energy Summit in London, an event that fails to prioritize black and African empowerment. Several African regulators, industry players, and petroleum ministers have joined the boycott, refusing participation due to the organizers’ disregard for empowering African professionals. The Chamber will not attend the event and we will stand firmly for African-led development and inclusive participation in the continent’s energy sector.
Turning to African Energy Week 2026, how are preparations progressing and what should participants expect from the next edition?
Preparations for AEW are well advanced. The program has been released and continues to evolve, incorporating the latest critical issues shaping Africa’s energy landscape, including emerging opportunities in oil, coal, and gas driven by global geopolitical developments.
The event has already secured high-level confirmations from key stakeholders, including OPEC, major IOCs, African producers, and logistics leaders such as AGL. Several African energy ministers from Zambia, Ghana, Senegal, Algeria, and Niger have confirmed participation, with more expected to join.
Industry players are actively submitting their entries for the African Energy Awards, with the nomination window closing on 30 May.
For companies, investors, and partners considering their first participation at AEW, why should African Energy Week be the place to be for anyone serious about Africa’s energy future?
This year’s agenda promises to be bigger and more impactful than ever. The event will bring together regulators, investors, project developers, and key players across oil, gas, renewables, and the broader energy value chain, creating a unique platform for deal-making and strategic partnerships that drive growth for both emerging and established companies, ultimately strengthening Africa’s energy sector.
AEW 2026 will connect Africa’s energy leaders through five strategic tracks, highlighting opportunities across the continent’s entire energy ecosystem and fostering collaboration between the public and private sectors, academia, technology innovators, and service providers.
You’ve been vocal about the need for African-led energy financing. What is the latest with the African Energy Bank, and does its slow start reflect deeper structural challenges or a lack of political will?
Africa holds more than $4 trillion in untapped domestic capital, offering a significant opportunity to finance the continent’s infrastructure and industrial development. The establishment of the African Energy Bank marks a critical step toward unlocking this potential.
In February, the bank launched with an initial $10-billion commitment to support priority oil and gas projects in Nigeria, Angola, and Libya. We anticipate increased participation from African investors and global stakeholders this year, accelerating funding for projects and laying the foundation for the bank’s broader $10-billion investment pipeline through 2030.
Finally, looking ahead, what gives you the most optimism about Africa’s energy future, and what risks concern you the most?
The Chamber is optimistic about Africa’s ongoing initiatives and short-term plans, including new licensing rounds and projects coming online in Angola, Libya, and West Africa, all aimed at unlocking the continent’s full energy potential. We welcome the growing focus on harnessing Africa’s hydrocarbons to address looming energy shortages, emphasizing that responsible development can meet demand without leaving critical resources untapped under the pretext of climate concerns.
*Culled from April Edition of PAV Magazine
