• Nigeria launched the African Petroleum Regulators Forum (AFRIPERF), backed by 16 countries.

• IEA estimates Africa needs $240 billion annually by 2030 to meet energy and climate goals.

• Regulators aim to harmonize oil codes to improve transparency, governance, and investor confidence.

For many African countries, oil and gas resources remain central to medium- and long-term economic and energy goals. Regulatory fragmentation across national frameworks continues to slow progress.

At Africa Oil Week in Accra from September 15 to 18, Nigeria launched the African Petroleum Regulators Forum (AFRIPERF). The initiative brings together 16 countries, of which eight — Gambia, Ghana, Guinea, Madagascar, Nigeria, Somalia, Sudan, and Togo — signed the founding charter.

The charter seeks to align petroleum and gas regulations among member states. The goal is to establish a harmonized framework for transparency, safety, and environmental standards, making Africa’s energy ecosystem more predictable for investors.

The International Energy Agency (IEA), in its 2024 report Clean Energy Investment for Development in Africa, estimated that Africa needs more than $240 billion annually by 2030 to finance energy and climate objectives. The IEA cited institutional and financial obstacles, including regulatory disparities that restrict access to capital.

AFRIPERF aims to reduce fragmentation and establish legal stability for cross-border projects. “Harmonization will raise governance standards and boost investor confidence,” said Gbenga Komolafe, head of Nigeria’s Upstream Petroleum Regulatory Commission (NUPRC) and interim AFRIPERF president.

The forum does not replace national laws but sets a common foundation. Each state must adjust its legislation to integrate commitments. Countries such as Angola and Gabon, which revised their petroleum codes in 2019, could benefit by aligning more rapidly with the new standards.

The challenge now lies in how quickly and effectively states will adapt their frameworks. For both governments and companies, Africa’s credibility as a destination for oil and gas investment depends on transforming political agreements into enforceable legal realities.

This article was initially published in French by Abdel-Latif Boureima

Adapted in English by Ange Jason Quenum