Nigeria’s Permanent Secretary at the Ministry of Petroleum Resources, Gabriel Aduda has said that Russia can power African countries to develop their energy expertise.
He said this while speaking to attendees at the Rusia-Africa Summit which took place in St. Petersburg, Russia on July 27 and 28.
According to Aduda, there is space for energy cooperation between Russia and Africa.
He resented several factors which make both regions perfect for an energy synergy, to achieve energy security as well as sustainability.
Aduda said that both Russia and Africa are rich in natural resources wealth and possess the ability to transform those resources into powering both economies, industries, and societies.
He also highlighted the fact that the energy sector is the lifeblood of modern civilization and as such must be focused on to achieve modern development.
Bolster energy security
According to Aduda, both Africa and Russia can bolster energy security which is at the heart of the global energy transition.
Energy experts have in the past alluded to the fact that oil and gas, which both regions possess in quantum, will remain high-demand energy sources for decades to come.
Aduda raised the issue of socioeconomic development which Africa is in need of, especially with current inflationary trends and the rise in unemployment across the region. An energy collaboration between Russia and Africa would create opportunities for Russia to share its expertise in energy exploration, extraction, and technology.
Aduda highlighted Russia’s wealth of experience in oil and gas, nuclear energy, and renewable technologies, which can play a pivotal role in supporting African nations as they strive for economic progress and improved living standards.
Creating new energy frontier markets
While addressing energy opportunities for Russia, Aduda said that Africa’s energy potential can open new horizons for Russia’s energy markets.
Spotlighting a potential rise in energy demand, Aduda said that Russia can find valuable trading partners in Africa, diversifying its export destinations and reducing dependency on specific regions.
Additionally, he said Russia’s investing in Africa’s energy infrastructure can lead to the establishment of mutually beneficial economic ties, fostering stability and prosperity on both sides.
He however highlighted the need for ethical practices, environmental stewardship, inclusive growth, technology transfer, capacity building, and knowledge sharing.
- “We cannot ignore the geopolitical dimension of energy cooperation between Russia and Africa. It is essential to approach this collaboration with transparency, respect for sovereignty, and a commitment to fair trade practices, ensuring that the energy partnership enhances regional stability rather than becoming a source of tension.”
What you should know
While addressing the 17 African leaders who attended the summit, President Vladimir Putin said Russia and Africa are united by an innate desire to defend true sovereignty and the right to their own distinctive path of development in the political, economic, social, cultural and other spheres.
He said Russia has plans to expand trade and economic ties with Africa and continue efforts to relieve their debt burden by writing off another $90 million of the continent’s debts.