Oando CEO Tinubu Urges Africa to Resist Pressure to Curtail Energy Development

Africa must confidently develop its hydrocarbon resources to expand energy access, accelerate economic growth and finance critical public infrastructure, according to Oando Plc Group Chief Executive Adewale Tinubu.

Tinubu said the continent’s oil and gas reserves should be managed primarily for the benefit of African people, arguing that revenues from the sector could support schools, hospitals, roads and other essential infrastructure.

“The energy beneath African soil belongs to African people,” he wrote on social media on Thursday. “The revenue it generates should fund African schools, African hospitals and African infrastructure.”

Citing recent developments across the continent, Tinubu said indigenous energy companies in Nigeria had successfully integrated upstream acquisitions and added more than 165,000 barrels per day to national production.

He also highlighted Oando’s development programme, saying the completion of new onshore development wells helped lift the company’s average production to 42,789 barrels of oil equivalent per day in the first half of 2026.

Elsewhere in Nigeria, Renaissance’s JK-004 well reportedly confirmed light oil across seven reservoirs. In Côte d’Ivoire, the third phase of the Baleine oil and gas development reached a final investment decision, with its gas production designated for the domestic market.

Tinubu said the projects demonstrated the benefits of African countries and companies taking greater control of the continent’s energy resources.

“This is what happens when Africa backs itself: real discoveries, real domestic benefit, on our own terms,” he said.

The Oando chief also challenged global climate frameworks that pressure African countries to restrict fossil-fuel development. He argued that Africa has contributed relatively little to historical global emissions but remains disproportionately exposed to the effects of climate change.

“We are the victims of global warming. We are not its cause,” Tinubu said.

His remarks add to the continuing debate over Africa’s energy transition. While climate advocates are calling for faster investment in renewable energy, industry leaders and several African governments maintain that oil and gas—particularly natural gas—remain essential for improving electricity access, supporting industrialisation and reducing energy poverty.

Tinubu called for an approach that allows Africa to pursue cleaner energy goals without abandoning resources that could help finance its development.

He said the continent’s energy strategy must ultimately reflect African priorities, deliver tangible domestic benefits and ensure that its natural wealth improves the lives of its people.