A former Minister of Petroleum and the Group Managing Director of the Nigerian National Petroleum Company, Ibe Kachikwu, has said that African leads make the continent poverty capital despite huge deposits of natural resources.
He said this during his presentation at the TEDx on the topic ‘Clean energy without access to basic energy: Reshaping the focus and looking to solution.’
The former minister said that Africa needs to thrive to achieve self-reliance in energy using its hydrocarbon and other natural resources.
Kachikwu said, “The world all over has moved from basic energy to what we call refined energy and Africa still can’t provide 50 per cent of its basic energy.
“We are not only dealing with the lack of energy and basic nomenclature, we are in fact dealing with lack of refined or clean energy and yet the world is bracing ahead with clean energy.
“Cop 29 just finished, and $300bn was put aside as potential funding for developing countries that need help.”
At the concluded Cop29, $300bn climate finance was pledged for developing countries.
The amount was criticised as being too small and late, according to the Executive Director and Professor of Practice at the Centre for Climate Finance and Investment at Imperial, Mr Michael Wilkins.
Kachukwu said that while the world is moving ahead, African leaders are seeking remnants from developed countries.
The former NNPC boss said the penchant for begging by African leaders has turned the continent to the benchmark for measuring the global poverty index.
Kachukwu said, “On the so-called continental stereotype, every index you look at is the index of poverty. Everybody is poor, and we can’t have all these resources and say Africa is poor.
“Something is wrong with the global community in terms of stereotyping Africa. Somehow, Africans have come to accept that as a basic allowable circumstance.
“One of the things that pissed me off is most Heads of States lined up like school captains and can’t even negotiate good terms with other world leaders.”