Oil & gas investments will not make Africa a net contributor to global emissions – Verheijen
The Federal Government has reaffirmed its commitment to fostering hydrocarbon investments to address energy poverty while emphasizing that Africa is not a net contributor to global emissions.
Speaking at CERAWeek by S&P Global, Olu Verheijen, Special Adviser to President Bola Ahmed Tinubu on Energy, highlighted Africa’s minimal contribution to global emissions during a session titled “Policy and People: Pathways to a Just Transition.” The session, chaired by Vera Blei, Head of Market Report & Trading Solutions at S&P Global, also featured Scott Tinker, CEO of Tinker Energy Association, and Sunita Narain, Director-General of the Centre for Science and Environment.
Nigeria, along with other African and middle-income nations, continues to advocate for a just energy transition amid the global push for net-zero emissions. Under its “Decade of Gas” initiative, Nigeria has adopted natural gas as a transition fuel to support economic growth while reducing carbon emissions.
Verheijen pointed out that Africa and other low-income countries contribute only 3–4% of global greenhouse gas emissions, compared to China and the United States, which account for approximately 30% and 13%, respectively. Together, both nations are responsible for nearly 40% of global emissions.
She reiterated Nigeria’s commitment to fostering a stable investment climate and addressing climate-related risks through transparent policies.
“In Nigeria, we are ensuring an enabling environment for investments. On climate change, we recognize the importance of risk perception in our markets and are committed to transparent policies that stand the test of time, enabling the deployment of capital,” Verheijen stated.
She also stressed the need for stronger regional economic integration to attract investment and enhance market efficiency.
“We need to strengthen economic integration across African nations to create a larger, more attractive market for investment. By pooling resources, integrating markets, and leveraging collaboration across the continent and regional blocs, we can drive sustainable development,” she added.
Verheijen emphasized the importance of data collection and analysis in Africa to support informed policy development.
“Even if Africa experiences exponential economic growth and reaches middle-income status, the continent will still not be a major contributor to global emissions. The bulk of emission reductions will have to come from developed nations, which must diversify their energy sources and invest heavily in carbon removal and reduction technologies,” she explained.
She noted that a balanced approach is essential—allowing developing economies to utilize their natural resources while adopting climate solutions to enhance adaptability and sustainability.
Through strategic investments and policy reforms, Nigeria and the broader African continent aim to bridge energy poverty, attract investment, and contribute to a sustainable global energy transition.
