Tag Archives: Africa Energy Investment Forum

Olu Verheijen to represent Nigeria at G20 Africa Energy Investment Forum

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Nigeria’s Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, will participate in the upcoming G20 Africa Energy Investment Forum, scheduled for November 21 in Johannesburg, where she will present Nigeria’s ongoing energy reforms and investment strategies.

The forum will provide a platform for Nigeria—one of Africa’s leading oil and gas producers—to showcase how its recent reforms are attracting global investors and positioning the country as a model for other African nations pursuing energy transition through hydrocarbons.

Under the Tinubu administration, Nigeria has introduced major policy shifts aimed at reviving production and increasing investment in the energy sector. Key among these is the Upstream Petroleum Operations (Cost Efficiency Incentives) Order, which rewards oil and gas firms that achieve cost reduction targets through performance-based tax credits. This follows the landmark Petroleum Industry Act (PIA) of 2021, which restructured the Nigerian National Petroleum Company (NNPC), modernized regulations, and improved governance to foster transparency and efficiency.

Since the implementation of the PIA, Nigeria has attracted over $17 billion in foreign direct investment into its oil and gas industry. Notable deals include ExxonMobil’s $1.5 billion deepwater investment, Shell’s $5 billion Final Investment Decision (FID) for the Bonga North Deepwater project, and TotalEnergies’ $550 million gas processing investment. Merger and acquisition activities have also surged, with $6.7 billion recorded in 2024 alone from firms like Seplat, Chappal Energies, and Oando.

Read Also: Ghana to host West Africa energy cooperation summit 2025

Beyond oil, Nigeria’s National Energy Transition Plan outlines an ambitious roadmap to boost gas production to 12 billion cubic feet per day by 2030, requiring about $60 billion in new investments. With more than 200 trillion cubic feet of proven reserves, gas remains central to Nigeria’s development and decarbonization efforts.

In renewables, Nigeria’s “30-30-30 Plan” targets 30 GW of power generation by 2030, with 30% sourced from renewables. Ongoing initiatives include Oando Clean Energy’s 1.2 GW solar project in Jigawa, the World Bank-backed $750 million DARES project to electrify 17.5 million Nigerians, and 948 MW in new capacity through partnerships with 10 private firms.

According to NJ Ayuk, Executive Chairman of the African Energy Chamber, “Nigeria’s energy reforms are setting a powerful precedent for what African-led policy can achieve. By fostering transparency, incentivizing investment, and prioritizing both hydrocarbons and renewables, Nigeria is proving that energy security and transition can go hand in hand.”

The G20 Africa Energy Investment Forum will unite governments, investors, and industry leaders to strengthen Africa’s role in the global energy transition, with discussions centered on natural gas, integrated energy systems, and African-led pathways to sustainable development.

AEC to host G20 Africa Energy Investment Forum in Johannesburg

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The African Energy Chamber (AEC) has announced plans to host the G20 Africa Energy Investment Forum on November 21, 2025, at the Southern Sun Sandton Hotel in Johannesburg.

The forum aims to attract foreign investment into Africa’s energy sector, with discussions expected to cover oil and gas production, clean cooking, renewable energy, nuclear development, and strategies for achieving affordable and sustainable energy access across the continent.

Africa’s energy landscape is at a critical turning point as countries confront the twin challenges of energy poverty and climate change. With energy demand projected to quadruple by 2040, the continent requires significant investment to expand access and drive a just energy transition.

According to the AEC, oil and gas will remain central to Africa’s development, with output projected to rise from 11.4 million barrels per day in 2026 to 13.6 million barrels by 2030. Natural gas, in particular, is emerging as a key driver of industrialization and clean energy, with over 620 trillion cubic feet of proven reserves and exploration campaigns underway across several countries.

Read Also: Energy Summit to connect investors with African opportunities

In addition to power generation, the forum will also spotlight clean cooking solutions such as LPG, as more than 900 million Africans still lack access to modern cooking fuels. The International Energy Agency estimates that $37 billion will be required by 2040 to achieve universal access, highlighting a major opportunity for targeted investment.

The event will further explore investment prospects in hydropower, geothermal, and nuclear energy. Countries such as Egypt, Nigeria, Ghana, and Kenya are advancing nuclear projects, while South Africa plans to expand its capacity by 5.2 GW in the coming years.

Speaking ahead of the event, NJ Ayuk, Executive Chairman of the AEC, emphasized the need for pragmatic policies from global partners.

“As we engage the G20, our message is simple: Africa needs common-sense energy policies — not ideology. We need financing that supports Africans building power plants, pipelines, and refineries, not roadblocks that keep our people in the dark,” he said.

The G20 Africa Energy Investment Forum follows the success of African Energy Week 2025, where G20 nations participated in the Global Energy Leaders Forum to explore pathways for collaboration and investment. The new forum will build on that momentum, serving as a launchpad for future energy partnerships across the continent.