African energy sector holds great potential to revitalise economy, says NJ Ayuk

This is a subject NJ Ayuk dives into in great detail in his sophomore book Billions at Play: The Future of African Energy and Doing Deals.

With a foreword by OPEC secretary general Mohammad Sanusi Barkindo, the book focuses on the following questions:

· How did Africa get here and what comes next?

· How do African countries and societies get the most value from their resources?

· What exactly can African leaders do to put their countries on a sustainable, profitable path?

· How can all parties win in Africa’s energy deals of the coming decades?

In a straightforward approach, the executive chairman of the African Energy Chamber outlines the fortunes and misfortunes in Africa’s petroleum industry and presents to us that Africa can learn from itself to build competitive economies. He proposed, “If African governments, businesses, and organizations manage Africa’s oil and gas revenues wisely, we can make meaningful changes across the continent.”

Using his experience and knowledge of the global energy sector, Ayuk challenges major players to be more active in developing their resources and local content skills and encourages decision-makers to put Africa’s people at the centre of economic growth plans.

Making the case for the petroleum industry having the power to support and transform emerging economies, he unpacks major issues including what and how Africa can learn from itself, the role of natural gas in Africa’s energy future, effective and sustainable investment strategies, strategic oil and gas revenue management and the role of women in the African petroleum sector.

The latter he insists is vital in the success of Africa’s oil and gas sector.

Ayuk said, “Africans are more than capable of making our continent successful.” However, global participation in the African energy landscape can produce greater benefits. Speaking on the US-Africa relations specifically, he stresses that Africa needs companies that are willing to share knowledge, technology and best practices, and businesses that are willing to form positive relationships in areas where they work.