“125bn Barrels Stalled, $150bn In Limbo: IPPG Chair Demands Urgent Action To End Africa’s Energy Poverty

● At AOW 2026, Adegbite Falade, Others Slam Africa’s 2% Renewable Investment in 2025

Accra, Ghana — NOP NIGERIA

Chairman of the Independent Petroleum Producers Group, IPPG, Adegbite Falade has called for urgent action to unlock Africa’s energy potential, warning that the continent cannot afford to leave its oil and gas wealth in the ground while millions remain in darkness.

Speaking at the Africa Oil Week, AOW 2026, in Accra, Ghana, Falade told delegates that Africa sits on enormous natural wealth yet suffers from chronic energy poverty.

“Africa is resource rich and energy poor. The continent has 125 billion barrels of proven oil reserves and 620 trillion cubic feet of proven natural gas,” he said.

Falade noted the contradiction in global climate debates, pointing out that despite making up approximately 18 per cent of the world’s population, Africa accounts for less than 4 per cent of global greenhouse gas emissions.

“This capital retreat comes at a precarious moment for a continent faced with energy poverty despite accounting for less than 3% of global greenhouse gas emissions,” he added.

The IPPG Chairman revealed that investment is drying up at the worst possible time. According to him, Africa attracted just about 2% of global renewable energy investment last year, while more than 150 essential oil and gas projects have stalled across the continent.

He described the stalled projects as a direct threat to jobs, energy security, and economic transformation, warning that delay is costing African economies billions in lost revenue and missed industrialization opportunities.

“Africa must decisively explore, invest, and produce today as an opportunity to transform our economies through vast natural wealth,” Falade told the gathering of ministers, CEOs, and financiers.

He argued that indigenous operators must be placed at the center of the solution. Recalling Nigeria’s experience, Falade said: “Three decades ago, indigenous operators in Nigeria had 3%,” a figure that has grown significantly through deliberate policy and capital support.

Falade urged African governments to create stable fiscal terms, de-risk projects, and fast-track approvals to restore investor confidence and get the 150+ stalled projects back on track.

He also called for a balanced energy transition that does not sacrifice Africa’s development. “We can pursue cleaner energy while still using our gas to power industries, homes, and businesses across the continent,” he said.

As AOW 2026 continues in Accra, Falade’s message resonated with many delegates: Africa has the resources, it has the demand, and it now needs the decisive capital and political will to turn potential into power.

Reported by NOP NIGERIA from Africa Oil Week 2026, Accra