Africa’s 125bn Barrels, 620TCF Gas Wealth Trapped as 150 Projects Stall — IPPG

The Chairman of the Independent Petroleum Producers Group, IPPG, Adegbite Falade, has called for urgent action to unlock Africa’s vast oil and gas resources, warning that the continent cannot afford to leave its energy wealth undeveloped while millions continue to suffer from energy poverty.

Falade made the call at Africa Oil Week, AOW 2026, in Accra, Ghana, where he highlighted the huge gap between Africa’s natural resource endowment and its energy access.

“Africa is resource rich and energy poor. The continent has 125 billion barrels of proven oil reserves and 620 trillion cubic feet of proven natural gas,” he said.

He noted that Africa accounts for about 18 per cent of the global population but contributes less than four per cent of worldwide greenhouse gas emissions, arguing that the continent’s development needs must be properly considered in global energy transition policies.

Falade said investment in Africa’s energy sector was declining despite the continent’s urgent need for power and industrial development. He disclosed that Africa attracted only about two per cent of global renewable energy investment last year, while more than 150 oil and gas projects had stalled across the continent.

According to him, the stalled projects represent lost opportunities for employment, government revenue, energy security and economic transformation.

The IPPG chairman urged African governments to prioritise the development of the continent’s resources by creating stable fiscal regimes, reducing investment risks and accelerating regulatory approvals.

He also called for stronger participation by indigenous oil and gas companies, citing Nigeria’s experience in expanding the role of local operators through supportive policies and access to capital.

Falade stressed that Africa’s energy transition should reflect the continent’s development realities, arguing that cleaner energy should be pursued alongside the continued use of natural gas to provide reliable power for industries, households and businesses.

He said unlocking the stalled projects would require stronger political commitment, increased access to capital and policies capable of restoring investor confidence in Africa’s energy sector.

His remarks came as AOW 2026 continued in Accra, bringing together African governments, energy companies, investors and other industry stakeholders to discuss the continent’s energy future.