The Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, has called on Africa to unlock its substantial proven oil reserves, which exceed 120 billion barrels. Speaking at the ongoing Nigeria International Energy Summit 2025 in Abuja, Al-Ghais emphasized the importance of Africa’s energy potential, which includes around 18 trillion standard cubic meters of natural gas.
Al-Ghais highlighted Africa’s crucial role in the global energy landscape and stressed the need for increased investment in the continent’s oil and gas industry. He pointed out that while the world’s energy transition is being driven by Western nations, Africa’s vast natural resources should not be overlooked. He underscored that the demand for oil will continue to rise in the future, making it vital to unlock Africa’s energy potential.
In his keynote address, Al-Ghais also lauded Nigeria’s significant contributions to OPEC’s successes and encouraged potential investors to explore opportunities in the country’s oil and gas sector. He noted that half of OPEC’s member countries are from Africa, including Nigeria and Algeria, and mentioned other African members like Libya, Gabon, Congo, and Equatorial Guinea.
Al-Ghais acknowledged the importance of creating an investment-enabling environment in Africa and stressed that the oil industry requires substantial investments—estimated at $17.4 trillion by 2050. He also touched upon critical issues affecting the global oil industry, such as the future of global oil demand, energy investment, and the ongoing challenges posed by climate change and the energy transition.
