Lagos (Nigeria): Nigeria is leading a new initiative to unify petroleum regulations across Africa, aiming to strengthen investor confidence and foster collaboration in energy.
The officials of 16 countries gathered in Accra, Ghana, to spell out the effort, launching the African Petroleum Regulators Forum (AFRIPERF).
Chaired by Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, the charter-signing ceremony was held at Africa Oil.
Nigeria, Ghana, Somalia, Gambia, Madagascar, Sudan, Guinea, and Togo, a total of eight nations, signed the charter, as seven others registered their support, intending to consult internally.
AFRIPERF aims to become the continent’s premier platform for regulatory cooperation, knowledge sharing and investment promotion in the petroleum sector.
Its mission encompasses creating standards, enhancing transparency, and addressing cross-border challenges, including gas trade, emissions, and digitalisation.
“This is a decisive step toward building a harmonised and sustainable petroleum industry in Africa,” said Komolafe, who serves as interim chairman of the forum, noting that the forum will help ensure Africa’s hydrocarbon resources are managed with “innovation, responsibility, and foresight.”
The executive committee of regulatory heads, supported by a technical committee of subject-matter experts and a rotating secretariat, will govern the forum, which witnesses the elections for AFRIPERF’s chairperson and the location of the headquarters.
The development is a step towards reflecting a growing push by African nations to align energy governance with global standards while asserting a stronger voice in international energy policy.