The Convener of the International African Energy, Oil and Gas Summit (IAEOGS), retired Justice Suleiman Galadima, says Africa’s energy hub requires $1 billion in investments to unlock its vast resources.
Galadima, who is also Chairman of African Peace Magazine (APM), disclosed this in a statement on Monday ahead of the 4th IAEOGS scheduled for Oct. 6–9, 2025, in Windhoek, Namibia. The summit, themed “Getting it Right”, will focus on accelerating energy access, localising value chains, and driving inclusive energy transitions across the continent.
“Natural resources must translate into socio-economic development and poverty alleviation,” Galadima said.
He noted that Namibia has become a significant frontier for oil and gas following major offshore discoveries by Shell, TotalEnergies, and Galp in the Orange Basin since 2022. Despite challenges, including Shell’s recent write-down of some finds, investor interest remains strong. TotalEnergies is targeting a final investment decision for its Venus discovery by 2026, with first oil projected for 2029, while Galp is advancing development of its Mopane field.
According to Galadima, Africa attracted more than $120 billion in energy investments in 2024, including $75 billion in oil and gas. “Today, Africa stands as one of the last frontiers for large-scale energy exploration and expansion,” he said, highlighting that the continent holds over 125 billion barrels of proven oil reserves and 620 trillion cubic feet of natural gas.
Yet, more than 600 million Africans still lack reliable electricity, a gap Galadima described as both a “moral and economic imperative for accelerated investment.”
The summit is expected to attract financiers, project developers, and global energy leaders, with endorsements from the Nigerian Ministry of Petroleum and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), among others.
