Can Africa’s oil and gas lead social & economic revitalisation?

Africa's oil and gas industry is currently experiencing a resurgence after a slump in 2014 due to the crash in oil prices. The market has stabilized, and countries across the continent are ramping up their oil and gas production. South Sudan, the only East African nation that produces oil, is rebuilding its fields and increasing production. Kenya is on track to start oil and gas production soon, while Nigeria and Angola are also making strides in the industry. President of Angola is set to host a conference on oil and gas, showcasing new reforms in the sector. The industry is thriving, and there is a sense of optimism and opportunity in the air. In a recent interview on CNBC Africa, NJ Ayuk, Founder and CEO of Centurion Law Group, emphasized the potential of Africa's oil and gas sector to drive social and economic transformation on the continent. Ayuk highlighted the importance of leveraging the continent's resources to benefit its people, particularly by creating jobs, empowering women, and fostering local content. He stressed the need for African countries to take ownership of their resources, drive accountability, and attract investment to propel the industry forward. Ayuk also discussed the upcoming surge in oil demand expected in 2025 and expressed confidence that Africa could meet this demand with the right investments and incentives for exploration and production. He emphasized the importance of security and sustainability in the industry, calling for a transition towards cleaner energy sources. Ayuk believes that Africa has the potential to compete globally in the energy sector and urged for the empowerment of the continent's young generation to drive innovation and growth. Overall, the future looks promising for Africa's oil and gas industry, with opportunities for development and progress on the horizon.