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Economy
Jun 10, 2026

‘World has no energy problem but lacks supply problem’

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FA News Desk
AEC

The world does not have an energy problem. It has an energy supply problem. As demand rises, populations grow, and billions of people continue to live without reliable access to electricity and clean cooking technologies, the case for producing more energy has never been stronger.

According to the African Energy Chamber (AEC), from Africa to Latin America, governments and operators are responding with renewed investments in exploration, production and infrastructure, signaling a shift away from energy subtraction and toward energy addition.

Speaking during the ARPEL Conference 2026 in Buenos Aires, Argentina, Executive Chairman of the African Energy Chamber (AEC) NJ Ayuk, the voice of the African energy sector – has said delivered a direct message to policymakers, investors and industry leaders: “Forget transition. Let’s talk about addition. Let’s give people what they need.”

The numbers support the argument. Energy poverty remains one of the greatest barriers to economic development globally.

In Africa alone, more than 600 million people remain without access to electricity, with nearly one billion people living without access to clean cooking technologies – the most disproportionately affected of which are women.

Asking developing economies to produce less energy while these realities persist is fundamentally disconnected from the needs of billions of people, AEC added.

“For far too long, we have been told to build less, produce less and pay more for energy,” AEC chief Ayuk stated adding, “In Africa, we believe this is a moment for energy addition, not energy subtraction. Drill, baby, drill. It’s more important today than ever before.”

Africa offers the clearest justification for increasing oil and gas production. Despite holding more than 125 billion barrels of crude oil reserves and 620 trillion cubic feet of proven gas reserves, the continent relies heavily on imported petroleum products to sustain its economies. Inadequate investment flows across the energy value chain have impacted development and industrialization, leaving millions in the dark.

Efforts are being made across the continent to produce more oil and gas. Leading producers such as Nigeria and Angola strive to increase output, targeting brownfield development, accelerated exploration and enhanced recovery.

Emerging producers such as Namibia are fast-approaching first oil, while discoveries made in Ivory Coast, investments made in the Republic of Congo, and new LNG builds in Mozambique and Tanzania are supporting greater production continent-wide.

For billions of people still seeking access to affordable, reliable energy, the priority is not producing less. It is producing more, Ayuk concluded.

(Based on APO Group news)