Mr Wisdom Ahiataku-Togobo, the Director of Renewable Energy at the Bui Power Authority, has urged Africans to support Nigerian Businessman, Mr Aliko Dangote, in his effort to set up a crude oil refinery on the continent.
He said: “Africa has abundant energy resources and it was time to add value as a continent to the petroleum products because we cannot continue to depend on other countries for the energy we need.”
If Africa intended to push its industrialisation drive, the continent must begin to add value to the abundant natural resources to bring the desired transformational change to the people.
Mr Ahiataku-Togobo made the appeal when he spoke on the topic: ”Sustainable Energy for Socio-Economic and Industrial Transformation in Africa,” at a public lecture as part of activities marking the 10th Anniversary of the University of Energy and Natural Resources (UENR) in Sunyani.
He said Dangote had the financial muscle but required the support of all Africans to realise his vision.
“Why will Africa export its crude oil to be refined outside the continent and returned to be sold here at a much higher price?” he asked.
“Africa is the home of five top 30 oil-producing countries in the world accounting for more than 7.9 million barrels of crude oil per day in 2019, about 9.6 per cent of world output.”
He said with the total crude oil reserves in Africa in 2019 standing at 125.3 billion barrels, why should she not boast of an oil refinery, he quizzed.
He also cautioned that external forces would make every effort to discourage the continent from setting up refineries because they knew it had the potential to weaken their economy.