NIES 2025: OPEC Urges Africa to Unlock 120 Billion Barrels of Oil Reserves
The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, has called on African nations to ramp up investments in their oil and gas sector to unlock the continent’s estimated 120 billion barrels of proven oil reserves.
Speaking at the Nigeria International Energy Summit (NIES) 2025 in Abuja on Tuesday, Al-Ghais highlighted Africa’s vital role in the global energy landscape. “Africa will play a crucial role in our energy future. The continent’s proven oil reserves amount to around 120 billion barrels. The world will need more of this oil in the future,” he said.
He cautioned that Africa must avoid “misguiding policy recommendations” and “overly ambitious” global energy targets, which he argued could undermine the continent’s energy development. “In recent years, the world has been bombarded by a swathe of misguiding policy recommendations, overly ambitious targets, and arbitrary deadlines that amount to extreme and wishful thinking,” Al-Ghais warned.
His remarks come amid increasing global pressure to transition away from fossil fuels. While some African policymakers advocate for a “just energy transition” that balances economic growth with sustainability, others argue the continent should focus on harnessing its fossil fuel resources.
Al-Ghais emphasized the need for a balanced approach to energy security, rising demand, and emissions reduction. “African nations must make investment decisions that best serve their energy needs and economic aspirations,” he added.
