The Federal Government has reaffirmed its dedication to fostering an environment that encourages hydrocarbon investments to tackle energy poverty while maintaining that Africa remains a minimal contributor to global emissions.

Speaking in Houston, Texas, at CERAWeek by S&P Global, Special Adviser to President Bola Ahmed Tinubu on Energy, Olu Verheijen, emphasized that oil and gas investments in Africa would not make the continent a net contributor to global emissions.

During the session, chaired by Vera Blei, Head of Market Report & Trading Solutions at S&P Global, Verheijen joined key industry figures such as Scott Tinker, CEO of Tinker Energy Association, and Sunita Narain, Director-General of the Centre for Science and Environment.

Discussions centered on ensuring a just energy transition for Africa amidst the global push for net-zero emissions.

As part of Nigeria’s “Decade of Gas” initiative, the government has positioned natural gas as a transitional fuel to drive economic growth while mitigating carbon emissions.

Verheijen highlighted that Africa and other low-income nations contribute only about 3–4% of global greenhouse gas emissions.

In stark contrast, China and the United States collectively account for nearly 40%, with China alone producing approximately 30% and the U.S. about 13% of global CO₂ emissions.

Reiterating Nigeria’s commitment to a stable and attractive investment climate, Verheijen stressed the importance of clear and transparent policies in mitigating climate-related risks.

“In Nigeria, we are ensuring that we create 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,” she stated.

She further underscored the necessity of regional economic integration to enhance market efficiency and attract investment.

“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 also highlighted the crucial role of data collection and analysis in shaping sound policies that align with sustainable growth.

“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 emphasized the need for a balanced approach, allowing developing economies to harness their natural resources for economic prosperity while implementing climate solutions that promote adaptability and sustainability.

Through strategic investments and policy reforms, Nigeria and the broader African continent aim to address energy poverty, attract critical.

Oil, gas investments will not make Africa major emissions contributor – Verheijen