Skip to content
October 1, 2026
  • Home
  • About us
  • Contact us
  • Newsletter
  • Privacy Policy
Political Economist

Political Economist

A liberal News reporting Politics, Sports, Business, Commentaries

  • Home
  • National News
    • Metro News
      • metro
    • Society
    • Crime and Justice
  • Special Reports
    • Investigation
    • Features
    • Interviews
  • Opinion
    • Commentaries
    • Perspectives
  • Press Releases
  • International News
  • Business & Economy
  • Politics
Watch Online
  • Home
  • Business & Economy
  • Africa deserves right to use natural gas reserves – AfDB
  • Business & Economy

Africa deserves right to use natural gas reserves – AfDB

Admin November 16, 2022
ban

Akinwumi Adesina, President AfDB

Nov. 16, 2022

The right of African countries to use their natural gas reserves should be reflected in any deal at the COP27 climate talks, African Development Bank (AfDB) president Akinwumi Adesina said, even as some nations push to see use of the fuel curtailed.

Agreeing to a deal on fossil fuels is among the key sticking points at the talks, with some developing countries including India keen to phase down the use of all such fuels, including gas, sources said.

A preliminary document from the conference hosts arrived late on Monday and made no mention of fossil fuels. While it forms the basis of any agreement, the all-important final wording has yet to be hammered out.

“Africa must have natural gas to complement its renewable energy,” Adesina said in an interview on Friday on the sidelines of the UN climate conference, being held in Sharm el-Sheikh in Egypt.

Even if Africa were to triple its production of natural gas from current levels, its contribution to global emissions would only rise by 0.67%, he said.

With the world now on course to miss its climate goal of limiting global warming to 1.5°C above the pre-industrial average by mid-century, one focus at the conference has been on countries accelerating their shift to renewable energy.

The AfDB is seeking to raise $25bn through the African adaptation acceleration programme — the biggest created by any comparable lender, Adesina said. It has also put 85% of its investments between 2016-2021 into renewable energy.

Still, natural gas is needed to balance out the electricity supply given the intermittent nature of renewables, he said.

“We must recognise the special nature of Africa. Africa has the highest level of energy poverty in the world,” Adesina said.

“My interest is how Africa uses natural gas as part of its energy mix to provide electricity for 600-million people today that don’t have access to electricity.”

Since the industrial revolution, developed countries have emitted around 2,400 gigatonnes (GT) of climate-damaging carbon emissions, leaving only about 400 GT left if the world wants to hit its temperature goal, Adesina said.

“And so Africa, that did not really emit, should not now be penalised for not even being able to use a little bit of gas to complement its natural resources.”

REUTERS

  • Facebook
  • Share on X
  • LinkedIn
  • WhatsApp
  • Email
  • Copy Link
Tags: AFDB Akinwumi Adesina Sharm el-Sheikh

Post navigation

Previous Court paper shows 26 men charged in suspected crude oil theft in Nigeria are foreigners
Next YouTube announces $80,000 grant to support Africa creators

Related Stories

Honeywell to help build Dangote’s new Kenyan mega-refinery William Ruto
  • Business & Economy

Honeywell to help build Dangote’s new Kenyan mega-refinery

September 30, 2026
Dangote to begin construction of $16 billion East Africa refinery in Kenya Aliko Dangote
  • Business & Economy

Dangote to begin construction of $16 billion East Africa refinery in Kenya

September 30, 2026
NGX Group Chairman Woos East African Investors for Upcoming Dangote Refinery IPO
  • Business & Economy
  • National News

NGX Group Chairman Woos East African Investors for Upcoming Dangote Refinery IPO

September 29, 2026
logo

Political Economist is a liberal news magazine with global affiliations.

At Political Economist, we promote free enterprise and act as a catalyst for the growth of knowledge economy. We are proudly pan-Nigeria yet richly spiced with African and global news. We offer a fair and balanced news reportage presented by our team of well-heeled professional journalists. <

About us

  • 5 Olutosin Ajayi Street, By CPM Church, Ajao Estate, Lagos State, Nigeria
  • +234 805 680 1124
  • info@politicaleconomistng.com

Follow

Subscribe to notifications

You may have missed

Navy rescues 2 kidnapped victims from Pirates in Akwa Ibom Naval rating arrested
  • National News

Navy rescues 2 kidnapped victims from Pirates in Akwa Ibom

October 1, 2026
Coscharis interview and the Peter Obi question, by Valentine Obienyem
  • Commentaries

Coscharis interview and the Peter Obi question, by Valentine Obienyem

October 1, 2026
20 YEARS OF IMPACT: Reachout Nigeria marks 20th edition with 100 million copies of Rhapsody of Realities *#HealingStreams Live
  • Society

20 YEARS OF IMPACT: Reachout Nigeria marks 20th edition with 100 million copies of Rhapsody of Realities

October 1, 2026
We have crossed the Red Sea, prosperity is next – Tinubu tells Nigerians in Independence Day message
  • Special Reports

We have crossed the Red Sea, prosperity is next – Tinubu tells Nigerians in Independence Day message

October 1, 2026
  • Home
  • About us
  • Contact us
  • Newsletter
  • Privacy Policy
Copyright © All rights reserved. | DarkNews by AF themes.