Thursday, May 28, 2026
25.7 C
Lagos

Business

CIG Motors: Pay ₦3m For a Brand New Car in May Splash Promo on Electric, Petrol Vehicles

New campaign introduces EasyPay auto-financing, major discounts and nationwide...

Repton CEO Calls for Digital Skills Acquisition at Lagos Career Fair

Otunba Odeyeyiwa Kazeem Olayemi, GMD/CEO, Repton Group, Keynote Speaker...

Guinness Nigeria CEO Attributes Strong 2026 Start to Operational Efficiency, Localised Decision-Making

The Managing Director/CEO of Guinness Nigeria Plc, Girish Sharma...

P+ Beats Three Agencies to Win NSIA Media Intelligence Business

P + Measurement Services Limited - (P+) has won the...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Seeks Cross-Listing Opportunities with Nairobi Securities Exchange

Alhaji (Dr) Umaru Kwairanga, Group Chairman, Nigerian Exchange Group...

NGX Group Advances Investor Education Drive with Digital Retail Engagement Initiative

Nigerian Exchange Group has intensified its investor education drive...

NGX Shareholders Commend Leadership at 65th AGM, Seeks Continued Growth

Shareholders of Nigerian Exchange Group Plc (NGX Group) have...

NGX Group Commends Happy Woman Digital Platform Initiative, Seeks Partnership

Being text of the speech by Alhaji (Dr.) Umaru...

Insurance

NAICOM Issues First Insurtech Licence, Reinforcing Commitment to Innovation, Market Integrity

L-R: Mr. Suleiman Olalekan Ajani, MD/CEO, CBI Insurtech and...

CIIN Concludes Insurance Week 2026 with Awards Galore

L-R: Mrs. Ekeoma Ezeibe, President/Chairman of Council of NCRIB...

NAICOM Leadership Pays Condolence Visit to the Family of Late Rotimi Edu

L-R: Mr. Ola Gam-Ikon, Deputy Commissioner, Finance and Administration,...

Leadway Assurance Claims Payout of N137bn in 2025 Reinforces Market Leadership, Customer Trust

Against the backdrop of a challenging yet progressively stabilising...

Business

CIG Motors: Pay ₦3m For a Brand New Car in May Splash Promo on Electric, Petrol Vehicles

New campaign introduces EasyPay auto-financing, major discounts and nationwide...

Repton CEO Calls for Digital Skills Acquisition at Lagos Career Fair

Otunba Odeyeyiwa Kazeem Olayemi, GMD/CEO, Repton Group, Keynote Speaker...

Guinness Nigeria CEO Attributes Strong 2026 Start to Operational Efficiency, Localised Decision-Making

The Managing Director/CEO of Guinness Nigeria Plc, Girish Sharma...

P+ Beats Three Agencies to Win NSIA Media Intelligence Business

P + Measurement Services Limited - (P+) has won the...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Seeks Cross-Listing Opportunities with Nairobi Securities Exchange

Alhaji (Dr) Umaru Kwairanga, Group Chairman, Nigerian Exchange Group...

NGX Group Advances Investor Education Drive with Digital Retail Engagement Initiative

Nigerian Exchange Group has intensified its investor education drive...

NGX Shareholders Commend Leadership at 65th AGM, Seeks Continued Growth

Shareholders of Nigerian Exchange Group Plc (NGX Group) have...

NGX Group Commends Happy Woman Digital Platform Initiative, Seeks Partnership

Being text of the speech by Alhaji (Dr.) Umaru...

Insurance

NAICOM Issues First Insurtech Licence, Reinforcing Commitment to Innovation, Market Integrity

L-R: Mr. Suleiman Olalekan Ajani, MD/CEO, CBI Insurtech and...

CIIN Concludes Insurance Week 2026 with Awards Galore

L-R: Mrs. Ekeoma Ezeibe, President/Chairman of Council of NCRIB...

NAICOM Leadership Pays Condolence Visit to the Family of Late Rotimi Edu

L-R: Mr. Ola Gam-Ikon, Deputy Commissioner, Finance and Administration,...

Leadway Assurance Claims Payout of N137bn in 2025 Reinforces Market Leadership, Customer Trust

Against the backdrop of a challenging yet progressively stabilising...

Deliver Energy Before The ‘Just Transition’

 

By Lamé Verre

Fellow of the Energy Institute | Member of the Global Future Council on Energy Transition at The World Economic Forum

Introduction 
In Africa, with a young demographic, a plethora of socioeconomic development requirements and energy poverty, amongst other pressing issues, meeting the population’s minimum energy requirements is crucial and existential. These critical issues must be reconciled when mapping Africa’s development path and addressed before the drive to achieve Net Zero emissions.
With geopolitical tensions rising and growing pressures to eliminate hydrocarbons from the energy mix, the continent’s primary concern should be securing energy availability and affordability for its people. Currently, it is estimated that 600 million Africans lack access to electricity, creating significant barriers to health care, education, productivity, digital inclusivity, and, ultimately, job creation.
Therefore, the continent must focus on securing energy access from every source despite geopolitical tensions and increasing pressure to eliminate hydrocarbons. This natural resource is currently abundant but largely underdeveloped, a situation that applies to every country on the continent.

Balancing Decarbonisation and Energy Security
While decarbonisation is a critical global urgency, it should not be pursued at the expense of energy security, national security or economic stability. This is especially true for Africa, which, despite housing one-fifth of the world’s population, is responsible for less than 3 percent of global carbon emissions. The continent also grapples with extreme energy poverty, with the International Energy Agency (IEA) reporting that 43 percent of its population lacks access to electricity despite significant untapped hydrocarbon resources. Balancing these two priorities and the need for molecules and electrons with the growth of the continent and its young population is a complex but necessary task.
Compared with the ageing demographics of developed regions, Africa’s youthful population is poised to drive a significant increase in energy demand in the coming years. This growth is not just necessary but also a source of hope, as it will accommodate the aspirations of its young populace. Therefore, it is unjust to expect Africa to forego developing its natural energy resources to mitigate environmental damage caused by 250 years of industrialisation by the Global North. This expectation leaves a whole generation behind and underscores the need for global equity in addressing climate change.

Ensuring a Just Transition
A truly equitable energy transition is not just a necessity but a moral imperative that meets the needs of all countries, necessitating extensive collaboration. It is crucial to strike a balance between traditional and renewable energy sources while considering the growth of Africa’s youthful population. While the continent recognises the necessity of decarbonisation, it also recognises that this cannot be achieved at the expense of its population’s development.
Africa’s unique energy needs must allow it to set its own energy transition pace. The first step is access to primary energy, clean cooking, and clean water – a just transition is both an obligation and a fundamental human right.
According to the UN Sustainable Development Goal 7, ensuring affordable, reliable, sustainable, and modern energy for all is crucial. It is estimated that urban homes should have 100kWh of energy for basic access, which is insufficient to operate a refrigerator. Hence, there are calls to set the modern energy minimum closer to 1,000kWh.
Discussing a just transition for those lacking basic energy access is futile. To reach that starting point, energy demand must rise. However, the current surge in global energy demand driven by Big Tech’s AI integration highlights the injustice of insisting that Africa leave its hydrocarbons in the ground for Net Zero despite having no energy access.
Minimum energy requirements for human development must also come from affordable, reliable, and lower-carbon power. While the move to renewables is noble and necessary, another vital energy transition is the move from no energy to “some energy.” The developing world asks that everyone have access to the same amount of energy required to power a refrigerator, which is not too much to ask.

Collaborative Efforts for a Just Transition
In conclusion, achieving a just transition while ensuring energy security and affordability for all necessitates historic levels of collaboration and partnerships. Traditional energy companies must work with emerging clean-energy firms, and the Global North must align its energy transition demands with the Global South’s primary energy needs.
A truly just transition requires countries at different development stages to collaborate on understanding and addressing each other’s needs. International events such as the forthcoming Africa Oil Week (AOW) in Cape Town in October provide a platform for these critical dialogues so all stakeholders can navigate the path to net zero while ensuring energy security and affordability for all.
Celebrating its 30th year, AOW: Investing In African Energy, running from October 7 to 10 at the Cape Town International Conference Centre, will highlight opportunities across the energy transition value chain for the continent by the continent. The conference will focus on responsible exploration and production, gas monetisation, and future fuels. It will connect industry leaders, shape policy, and catalyse investment.

 

 

 

 

Hot this week

NGX Seeks Cross-Listing Opportunities with Nairobi Securities Exchange

Alhaji (Dr) Umaru Kwairanga, Group Chairman, Nigerian Exchange Group...

NAICOM Issues First Insurtech Licence, Reinforcing Commitment to Innovation, Market Integrity

L-R: Mr. Suleiman Olalekan Ajani, MD/CEO, CBI Insurtech and...

NDIC Reiterates Commitment to Strong Deposit Insurance Funding to Enhance Financial System Stability

L – R: Executive Director, Corporate Services, Nigeria Deposit...

CIIN Concludes Insurance Week 2026 with Awards Galore

L-R: Mrs. Ekeoma Ezeibe, President/Chairman of Council of NCRIB...

Vitality Health Becomes Discovery Health – Global Health Solutions, Strengthening Next-Generation Healthcare in Nigeria

Discovery Health has announced that Vitality Health International (Africa),...

Topics

Unity Bank, AfriGo Explore Collaboration to Deepen Access to Electronic Payments

L-R: Mr. Wale Ogunride, Zonal Head, Lagos and South...

Global Semiconductor Market Slumps in 2015

Global semiconductor revenues fell by 2 percent in 2015....

Africa Oil Week Charts Future of Oil in Africa

The 2016 Africa Oil Week showcases 130 speakers with...

Linkage Assurance EGM 2022

L-R: Mr Okanlawon Adelagun, Executive Director; Mr Daniel Braie,...

NLNG Commissions University Teaching Hospital Projects in 4 States

​Nigeria LNG (NLNG) Limited today began another round of...

Quickteller Launches ‘Everything is Possible’ Campaign

(L-R) Emeka Awagu, Head, Digital Commerce, Quickteller; Adedeji Layade,...

DMG Acquires Exhibition Management Services

One of the world’s leading event companies, DMG Events,...
Exit mobile version