Global Leaders Harp On African Momentum

 

As Global Leaders and industry players engage  on global regional challenges, Africa’s development and energy transition, Heineken Lokpobiri, Minister of states for Petroleum Resources)Oil) has said  that one of the key discussions was Africa’s Momentum.

He stated that the discussion which examined the impact of the African Union’s 2023 admission as a permanent member of the G20 and Africa’s push was a permanent seat on the UN Security Council.

The engagement by the leaders took place at the just concluded World Economic Forum (#WEF25) in Davos, Switzerland.

According to the Minister, during the Leadership   discussion for a Sustainable MENA session, which focused on climate, AI, and finance in the MENA region  a group of Middle Eastern and North African countries were there.

A statement issued by the Nigeria Minister of State for Petroleum Resources (Oil) Senator Heineken Lokpobiri who had the privilege of participating in several of the sessions 

“I contributed to this dialogue by emphasizing the need for strategic funding to enable Nigeria and Africa to harness their vast mineral resources and tackle persistent energy deficiencies.

“In the session on Powering Progress: Financing the Energy Transition, I highlighted actionable solutions needed to unlock market forces and strengthen the business case for a global energy transition.

“We explored best practices for mobilizing public and private capital, emphasizing that Nigeria and indeed, Africa’s transition must align with its development priorities.

“We discussed innovative partnerships and pathways for collaboration between international and regional stakeholders. The insights shared were vital for integrating Nigeria and Africa as a whole into broader sustainability frameworks, while marketing Nigeria as an investment destination on the way to energy transition.

“In the session on G20 and Africa’s Just Energy Transition, it was noted, the importance of South Africa’s G20 Presidency in advancing Africa’s energy priorities. I underscored the establishment of the Africa Energy Bank, headquartered in Nigeria, as a significant step in bridging the funding gap. However, I called for greater international support, noting Africa’s minimal contribution of 3% to global emissions and stressing that the time for mere dialogue has passed.

“As we look ahead, I urged that by the next #WEF26, our collective focus should be a review of executed actionable measures that drive visible growth in Nigeria, Africa, and globally. The foundation has been laid; now, it is time to build." The statement reads.