• About
  • Advertise
  • Privacy Policy
  • Contact
Friday, July 18, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

African Energy Chamber Criticizes Unrealistic Global Energy Transition Goals

January 22, 2025
Prince Agyapongby Prince Agyapong
in Extractives/Energy
0
NJ Ayuk, Executive Chairman of the African Energy Chamber

NJ Ayuk, Executive Chairman of the African Energy Chamber

NJ Ayuk, Executive Chairman of the African Energy Chamber, has argued that the expectations for Africa to transition entirely to renewable energy are both unrealistic and harmful.

Writing about Africa’s energy challenges, Ayuk emphasized the continent’s urgent need for a pragmatic energy strategy that includes fossil fuels alongside renewables to address widespread energy poverty and spur economic growth.

With 600 million Africans lacking access to electricity and nearly a billion without clean cooking fuels, the continent faces a severe energy deficit. Ayuk underscored the necessity of leveraging Africa’s oil and gas resources to address these challenges.

RelatedPosts

Bright Simons Questions Government’s Proposed Lithium Lease Amendment 

PURC Engages Utility Service Providers to Foster Sector Reforms 

Lands Minister Unveils Five-Pillar Strategy to Combat Illegal Mining 

“The most practical way to reduce emissions while improving energy access is to invest in gas-fired power stations,” he said, citing South Africa, Namibia, and Mozambique as regions rich in natural gas resources.

Ayuk highlighted the impracticality of relying solely on renewables, particularly in urban areas with rapidly growing populations and industrial needs. “While renewables may work in remote villages, they cannot yet provide an affordable and reliable solution for urban centers or major industries,” he argued.6

Ayuk accused Western governments and financial institutions of perpetuating “financial apartheid” by discouraging investments in African energy projects while supporting similar ventures in developed countries.

He noted that banks such as BNP Paribas, HSBC, and Barclays have significantly curtailed financing for African oil and gas projects, citing concerns about environmental impacts.

“This discriminatory behavior stifles Africa’s economic potential and undermines the sovereignty of its nations,” Ayuk said. He criticized the reliance of Western banks and governments on the International Energy Agency’s (IEA) “unrealistic” energy forecasts, which prioritize net-zero emissions targets over the development needs of emerging economies.

Ayuk singled out the IEA for its influential role in shaping global energy policy and its alleged failure to consider the realities of Africa’s energy landscape. In 2020, the IEA shifted its focus from market-driven energy forecasts to hypothetical scenarios aligned with extreme emissions reduction targets.

“These scenarios have steered financial institutions away from investing in critical African energy infrastructure,” Ayuk said, referencing the East African Crude Oil Pipeline as an example.

The pipeline, which promises essential energy and employment opportunities, faced significant opposition from Western policymakers and investors following the IEA’s projections.

A Call for African-Led Solutions

njnewsletter

Ayuk stressed that African countries are best positioned to address their complex energy challenges and called for global institutions like the IEA to respect Africa’s sovereignty. He argued that Africa must prioritize practical solutions, including hydrocarbons, to alleviate energy poverty and foster development.

“While oil and gas may be considered ‘dirty words’ in Paris, London, or New York, hydrocarbons offer cleaner alternatives to the solid biomass and kerosene that 85% of Africans use to cook their food today.”

NJ Ayuk, Executive Chairman of the African Energy Chamber

Ayuk’s commentary underscores the need for a more equitable approach to global energy transition policies. He questioned why African nations are expected to adhere to stringent climate goals when developed nations historically relied on fossil fuels to power their industrial revolutions and improve living standards.

“Europe, the United States, and China have made incredible strides in addressing malnutrition, life expectancy, and disease by powering economic growth with coal, oil, and natural gas. Why can’t we?” Ayuk asked.

NJ Ayuk’s critique highlights the tension between Africa’s development needs and global climate goals. His call for a balanced energy strategy, inclusive of fossil fuels, reflects the continent’s struggle to secure energy access while navigating the pressures of international climate commitments.

Ayuk’s remarks challenge global institutions and policymakers to rethink their approach to Africa’s energy transition, advocating for a pragmatic and inclusive strategy that prioritizes development without compromising sustainability.

READ ALSO: Libyan Warlord Release Sparks Outrage

Tags: African Energy Chamber (AEC)Ayuk accused Western governments and financial institutions of perpetuating “financial apartheid” by discouraging investments in African energy projectsglobal energy transitionInternational Energy Agency (IEA)Oil and Gas Industry
Please login to join discussion
Previous Post

Libyan Warlord Release Sparks Outrage

Next Post

Dzifa Gomashie Suggests Restructuring Of Tourism Ministry

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

Bright Simons Questions Government’s Proposed Lithium Lease Amendment 
Extractives/Energy

Bright Simons Questions Government’s Proposed Lithium Lease Amendment 

July 18, 2025
Farage Ally Slammed Over X Interaction Scandal
UK

Farage Ally Slammed Over X Interaction Scandal

July 18, 2025
Lawyer Samuel Atta Kyea, Attorney, Court
General News

Lawyer Decries “Ambulance Mode” In Adu Boahen Trial

July 18, 2025
Christian Patriarchs Visit Shelled Catholic Church In Gaza
Asia

Christian Patriarchs Visit Shelled Catholic Church In Gaza

July 18, 2025
“Tear Down the Barriers!” – Stellenbosch Panel Calls for Urgent Overhaul to Boost Intra-African Trade
Vaultz Business

“Tear Down the Barriers!” – Stellenbosch Panel Calls for Urgent Overhaul to Boost Intra-African Trade

July 18, 2025
Galamsey Tagged a Curse
Entertainment

Rocky Dawuni Inspires Unity With Music

July 18, 2025
Bright Simons Questions Government’s Proposed Lithium Lease Amendment 
Extractives/Energy

Bright Simons Questions Government’s Proposed Lithium Lease Amendment 

by Prince AgyapongJuly 18, 2025
Farage Ally Slammed Over X Interaction Scandal
UK

Farage Ally Slammed Over X Interaction Scandal

by Lawrence AnkutseJuly 18, 2025
Lawyer Samuel Atta Kyea, Attorney, Court
General News

Lawyer Decries “Ambulance Mode” In Adu Boahen Trial

by Silas Kafui AssemJuly 18, 2025
Christian Patriarchs Visit Shelled Catholic Church In Gaza
Asia

Christian Patriarchs Visit Shelled Catholic Church In Gaza

by Comfort AmpomaaJuly 18, 2025
“Tear Down the Barriers!” – Stellenbosch Panel Calls for Urgent Overhaul to Boost Intra-African Trade
Vaultz Business

“Tear Down the Barriers!” – Stellenbosch Panel Calls for Urgent Overhaul to Boost Intra-African Trade

by Stephen M.CJuly 18, 2025
Galamsey Tagged a Curse
Entertainment

Rocky Dawuni Inspires Unity With Music

by Esther Korantemaa OffeiJuly 18, 2025
Bright Simons Questions Government’s Proposed Lithium Lease Amendment 
Farage Ally Slammed Over X Interaction Scandal
Lawyer Samuel Atta Kyea, Attorney, Court
Christian Patriarchs Visit Shelled Catholic Church In Gaza
“Tear Down the Barriers!” – Stellenbosch Panel Calls for Urgent Overhaul to Boost Intra-African Trade
Galamsey Tagged a Curse
[/vc_row_inner]

Recent News

  • Bright Simons Questions Government’s Proposed Lithium Lease Amendment 
  • Farage Ally Slammed Over X Interaction Scandal
  • Lawyer Decries “Ambulance Mode” In Adu Boahen Trial
  • Christian Patriarchs Visit Shelled Catholic Church In Gaza
  • “Tear Down the Barriers!” – Stellenbosch Panel Calls for Urgent Overhaul to Boost Intra-African Trade
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.