Africa’s $15 Billion Energy Wake-Up Call: From Crude Exports to Industrial Power
22:39 02.03.2026 (Updated: 22:44 02.03.2026)
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Africa’s $15 Billion Energy Wake-Up Call: From Crude Exports to Industrial Power
"Let's start the rapid development of these resources now, And not for a gain, not for exports. Let's pump our oil and use that oil to develop our economy now. Let's link that sector with the rest of the economy. In many African countries, the mineral sector is like an eclipse. It has limited linkage with the rest of the economy. That shouldn't be. So, we should have refineries. We should have power plants. We should have pipelines that will ensure and then create incentives for energy-based industries. So, that we can generate employment, we can reduce energy poverty, we can increase [and] promote gender income development."
On #GlobalSouthPole, Adeola Adenikinju, a Professor of Economics at the University of Ibadan, Nigeria, explains why refining locally, integrating energy into manufacturing, and strengthening regional markets could transform hydrocarbons from revenue streams into development engines.
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