Africa must collaborate to achieve energy security – Anim

For Africa to become self-sufficient and have a sustainable energy future, the continent requires cooperation across industries and borders, said John Anim, managing director of Platform Petroleum.

Speaking on ‘Achieving African Energy Security – The Critical Role of Cross-Sector Collaboration,’ during the Upstream E&P Forum session at the African Energy Week (AEW 2024) in Cape Town, South Africa, Anim said that securing Africa’s energy supply requires cooperation across industries and borders.

Highlighting the scale of Africa’s energy gap, Anim said nearly half a billion Africans lack reliable electricity, and over a billion still depend on traditional fuels for cooking.

“Energy security is not just an economic necessity; it is a cornerstone for stability, quality of life, and shared prosperity. The time has come for us to transform ambition into action, resources into results, and potential into power,” Anim said.

Africa’s energy demand is accelerating at a record pace, driven by rapid urbanisation, industrial growth, and demographic expansion.

He said industrial and household energy demands are expected to skyrocket over the next decade.

With Africa home to nearly 7 percent of the world’s proven oil reserves and 9 percent of its natural gas reserves, he said, these resources hold the key to meeting future demand – but only if managed sustainably and strategically.

Despite Africa’s abundance of resources, the continent remains a net importer of refined fuels, a situation Anim attributed to limited refining capacity and outdated infrastructure.

While Africa currently exports around 5 million barrels of crude oil daily, it still imports nearly half of that in refined petroleum products.

He said this supply-demand imbalance is both a challenge and an opportunity for collaborative investment.

Anim called for a new investment model rooted in partnership, where companies can share the financial burden and operational risks associated with large-scale projects.

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“Africa’s path to energy independence depends on collaboration, innovation, and a supportive regulatory environment that inspires investor confidence,” Anim said while calling on governments and private sector stakeholders to create a transparent and predictable regulatory framework to foster this cross-sector collaboration.

He urged African leaders to prioritise a collaborative approach that ensures long-term benefits remain within the continent, without which, Africa will remain vulnerable to supply chain disruptions and external dependencies.

Through its Egbaoma Field, Platform Petroleum supplies over 30 million standard cubic feet of gas daily to the Nigerian domestic market, while PNG Gas, its subsidiary, produces over 20,000 tonnes of LPG annually.

It is also expanding into Compressed Natural Gas (CNG) and is exploring a modular refinery, reinforcing its commitment to Nigeria’s energy future and Africa’s economic progress.