The convener of the International African Energy, Oil, and Gas Summit says Africa’s energy hub requires an unprecedented amount of $1 billion in investment opportunities to harness its resources.

Suleiman Galadima, chairman of African Peace Magazine, made this known in a statement on Monday. The fourth IAEOGS is scheduled to be held from October 6 to 9, 2025, in Windhoek, Namibia.

Mr Galadima underscored the need to harness Africa’s natural resources by focusing on its defining moment, to accelerate energy access, localise value chains, and fast-track inclusive energy transitions.

According to him, natural resources must translate into socio-economic development and poverty alleviation.

“Hosting the IAEOGS again, Namibia is emerging as a significant frontier for oil and gas, marked by major offshore discoveries by companies like Shell, TotalEnergies, and Galp in the Orange Basin starting in 2022.

“In spite of challenges, including Shell’s recent decision to write down some discoveries due to commercial viability concerns, the country is attracting investors’ interest and aims to fast-track development for first oil production by the end of the decade.

“TotalEnergies is targeting a final investment decision for its Venus discovery by late 2026, with first oil projected for 2029, while Galp continues to progress development of its Mopane field. Time to Invest is Now,” he said.

He stated that in 2024, the African energy sector attracted over $120 billion in investments, with $ 75 billion directed towards oil and gas development.

These record-breaking inflows, he said, reflected surging global demand, untapped reserves, and the steady rise of indigenous players reshaping the continent’s energy narrative from within.

“Today, Africa stands as one of the last frontiers for large-scale energy exploration and expansion. From new natural gas discoveries in Mozambique and Senegal, to oil-rich fields in Namibia and Nigeria, the region is drawing renewed global interest from financiers, super-majors, EPC contractors, and independent producers alike.

“Africa is home to more than 125 billion barrels of proven oil reserves and 620 trillion cubic feet of natural gas. These resources are increasingly vital as global markets seek diversified, stable, and lower-emission supply chains. Yet, paradoxically, over 600 million Africans still lack access to reliable electricity, a gap that offers both a moral and economic imperative for accelerated investment,” he said.

The summit is expected to unite global financiers, high-profile project developers, and key players from the global energy landscape, with endorsements from the Nigerian Ministry of Petroleum, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, among others.

(NAN)