{"id":4925,"date":"2025-09-17T11:07:53","date_gmt":"2025-09-17T10:07:53","guid":{"rendered":"https:\/\/shippingworld-ng.com\/?p=4925"},"modified":"2025-09-17T11:07:53","modified_gmt":"2025-09-17T10:07:53","slug":"africa-to-halt-120b-annual-hydrocarbon-imports-lokpobiri","status":"publish","type":"post","link":"https:\/\/shippingworld-ng.com\/index.php\/2025\/09\/17\/africa-to-halt-120b-annual-hydrocarbon-imports-lokpobiri\/","title":{"rendered":"Africa to halt $120b annual hydrocarbon imports ….Lokpobiri"},"content":{"rendered":"

\"\"<\/span>Nigeria\u2019s Oil minister, Senator Heineken Lokpobiri, has reaffirmed Nigeria\u2019s leadership role in advancing Africa\u2019s energy security.<\/span><\/p>\n

This is as he called for deeper regional integration at the Africa Oil Week (AOW) 2025 Ministerial and CEO Leadership Forum.<\/p>\n

According to a statement by Nneamaka Okafor, Lokpobiri’s media aide, the minister stressed that integration remains the most effective strategy to end Africa\u2019s energy poverty, noting that shared infrastructure, harmonized standards, and technical expertise will enable the continent to secure its energy future.<\/p>\n

He highlighted Africa\u2019s heavy reliance on imports, revealing that the continent spends over $120 billion annually on hydrocarbon imports.<\/p>\n

\u201cThis is capital flight. These funds should remain within Africa to fuel our own development priorities,\u201d he stated.<\/p>\n

The Minister emphasized that the real challenge is not access to capital but the lack of aligned regulatory frameworks and fiscal regimes.<\/p>\n

\u201cInvestors make long-term decisions based on stability and predictability. Africa must harmonize its policies to attract and retain investment.\u201d<\/p>\n

As part of Nigeria\u2019s leadership drive, Lokpobiri announced the creation of a West African Reference Market (WARM)\u2014an initiative to leverage Nigeria\u2019s growing refining capacity to supply petroleum products across West Africa and beyond.<\/p>\n

On the global energy transition, he clarified that the Paris Agreement does not require abandoning fossil fuels, but rather a reduction in emissions.<\/p>\n

\u201cAfrica contributes only 3% of global CO\u2082. We cannot lead an energy transition when we don\u2019t even have energy. Our priority must be to responsibly harness our abundant resources to power growth.\u201d<\/p>\n

The minister further urged African nations to unite around a shared purpose, stating that \u201cAfrica has the market, the population, and the resources. What we need now is to keep value within our continent and finance our own energy future.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Nigeria’s Oil minister, Senator Heineken Lokpobiri, has reaffirmed Nigeria’s leadership role in advancing Africa’s energy security. This is as he called for deeper regional integration at the Africa Oil Week (AOW) 2025 Ministerial and CEO Leadership Forum. According to a statement by Nneamaka Okafor, Lokpobiri’s media aide, the minister stressed that integration remains the most […]<\/p>\n","protected":false},"author":2,"featured_media":4927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1,173],"tags":[2021,1489,2022],"class_list":["post-4925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-misc","category-news-feature","tag-africa-oil-week-aow-2025-ministerial-and-ceo-leadership-forum","tag-senator-heineken-lokpobiri","tag-west-african-reference-market-warm"],"_links":{"self":[{"href":"https:\/\/shippingworld-ng.com\/index.php\/wp-json\/wp\/v2\/posts\/4925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/shippingworld-ng.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shippingworld-ng.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shippingworld-ng.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/shippingworld-ng.com\/index.php\/wp-json\/wp\/v2\/comments?post=4925"}],"version-history":[{"count":1,"href":"https:\/\/shippingworld-ng.com\/index.php\/wp-json\/wp\/v2\/posts\/4925\/revisions"}],"predecessor-version":[{"id":4928,"href":"https:\/\/shippingworld-ng.com\/index.php\/wp-json\/wp\/v2\/posts\/4925\/revisions\/4928"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shippingworld-ng.com\/index.php\/wp-json\/wp\/v2\/media\/4927"}],"wp:attachment":[{"href":"https:\/\/shippingworld-ng.com\/index.php\/wp-json\/wp\/v2\/media?parent=4925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shippingworld-ng.com\/index.php\/wp-json\/wp\/v2\/categories?post=4925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shippingworld-ng.com\/index.php\/wp-json\/wp\/v2\/tags?post=4925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}