Nigeria, drill baby drill, the party is back!

Nigeria, drill baby drill, the party is back: ‘BP has announced a “fundamental reset strategy” aimed at slashing spending on renewable energy and doubling down on fossil fuels. Investments in oil and gas will increase to $10 billion through 2027 — a reversal of the strategy set out by former CEO Bernard Looney to reduce oil and gas output 40% by 2030. The shift comes as investor pressure mounts on BP to improve its financial performance and other energy giants, such as Shell, also abandon green transition targets. – LinkedIn News’.

Nigeria and Africa, shine ya eyes. Yes, no one really cares about this climate risk or whatever they call it if it affects where it matters. When Russia disconnected Germany from cheap gas, Germany re-fired the coal plants. They could have chosen to go energy-less and save the planet! Yes, village-mode as we do in villages across Africa.

Sure – I have nothing against renewable energy. It is a necessary part of the future. But I have an issue when Africa thinks there is anything to win by depriving its people of energy, just to be invited to conferences in Berlin, London, etc as vanguards of the planet. We have fundamental issues where young people cannot see where jobs will come, and nothing is being done on energy security!

Comment on Feed

Comment 1: Prof this is so sad and I don’t agree with your analysis
I think we need to take a “long” look with our country and climate change
We can continue to build on the gains we have in renewable energy ( because we know what the consequences are. We are living it now) while working intensively to create jobs in the energy sector for our youth.
Lets lead the way in showing up the right way for Nigeria ?? and for the African continent

My Response: I used to believe until the UK and Germany re-opened coal plants when Russia cut access to gas. They would have used that opportunity to demonstrate that it was fine to lose energy for the climate.

Comment 2: Thank you for sharing this perspective. It’s a complex issue, and I appreciate the emphasis on the challenges Africa faces in balancing energy needs, economic development, and global climate expectations.
Here’s my contribution to the conversation:

While it’s true that Africa must prioritize its own development and energy security, it’s also important to recognize that the global energy landscape is shifting rapidly. The decisions made by companies like BP and Shell to double down on fossil fuels may provide short-term gains, but they also highlight a broader tension between immediate financial performance and long-term sustainability. For Africa, this presents both a challenge and an opportunity.

Africa has an abundance of renewable energy resources solar, wind, hydro, and geothermal that remain largely untapped. Investing in these resources doesn’t have to mean depriving people of energy or jobs; in fact, it could be the opposite. Renewable energy projects can create jobs, stimulate local economies, and provide reliable energy access to millions who currently lack it. The key is to ensure that these investments are driven by African priorities and benefit African communities, rather than being imposed by external agendas.

At the same time, fossil fuels will likely remain part of the energy mix in the short to medium term, especially as Africa seeks to industrialize and address energy poverty. But relying too heavily on fossil fuels risks locking the continent into outdated infrastructure and technologies, which could become stranded assets as the world transitions to cleaner energy.

The real issue, as you pointed out, is energy security and economic opportunity. Africa should not have to choose between development and sustainability. Instead, it should pursue a balanced approach that leverages its natural resources both fossil and renewable to build a resilient energy system that powers growth, creates jobs, and ensures long-term prosperity. This requires strong leadership, strategic planning, and partnerships that prioritize Africa’s needs over external pressures.

In short, Africa’s energy future should be shaped by Africans, for Africans. The goal should be to harness all available resources in a way that empowers people, drives development, and positions the continent as a leader in the global energy transition not just a follower of outdated models.

Nigeria’s Energy Renaissance: Tinubu’s Administration Seeks to Reverse $80 Billion Investment Exodus

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