PTI Warns African Nations Against Abandoning 125 Billion Barrels of Crude Reserves

The Petroleum Training Institute (PTI) has urged African countries not to succumb to global pressure to abandon their crude oil reserves, warning that the continent risks jeopardising its economic stability and development prospects if it hastily transitions away from fossil fuels.

Speaking during a recent regional energy conference, the PTI management emphasised that Africa’s estimated 125 billion barrels of crude oil reserves remain a crucial asset for driving industrialisation, energy security, and sustainable growth across the continent. The institute noted that while the global community is increasingly shifting towards renewable energy sources, Africa must pursue a balanced energy transition that safeguards its economic interests.

Dr. Henry Adimula, Principal and Chief Executive Officer of PTI, highlighted that oil remains one of Africa’s most valuable resources and should be utilised strategically to fund diversification efforts rather than being prematurely abandoned. He explained that the continent’s energy needs, coupled with infrastructure deficits and rising poverty levels, make a gradual transition more feasible than an abrupt shift.

“Africa cannot afford to ignore its energy realities. While we recognise the importance of clean energy, we must also acknowledge that crude oil is still central to our economies,” Adimula said. “Our continent needs to harness its oil wealth efficiently, using the proceeds to build the foundation for renewable energy expansion and industrial development.”

According to PTI, several African nations depend heavily on oil revenues to finance national budgets, social programs, and infrastructural projects. The institute cautioned that phasing out crude production without viable alternatives would expose many economies to fiscal shocks and deepen unemployment across the region.

Recent data from the African Energy Chamber shows that Africa holds over 125 billion barrels of proven crude oil reserves, representing roughly 7.3% of the world’s total. Major producers such as Nigeria, Angola, Libya, and Algeria remain heavily reliant on hydrocarbon exports for foreign exchange earnings. However, climate change policies and investment shifts by Western nations have reduced funding for fossil fuel exploration and production in Africa.

PTI’s warning comes amid growing calls from global environmental organisations urging developing countries to scale back on fossil fuel dependence. However, the institute maintained that Africa’s situation is unique, given its limited industrial base and growing energy deficit, which affects over 600 million people lacking access to electricity.

Industry stakeholders echoed PTI’s stance, stressing that African nations must define their own pace and strategy for energy transition. Energy economist, Dr. Uche Eze, stated that while renewables offer long-term sustainability, they currently cannot meet the continent’s growing demand. “Africa’s energy transition must be equitable and context-driven,” he said. “We cannot mirror the same timelines as developed countries whose industrial revolutions were powered by fossil fuels.”

In addition, PTI called on African governments to strengthen policies that promote responsible exploitation of oil and gas resources while investing in cleaner technologies. It urged leaders to adopt innovative strategies such as carbon capture, utilisation, and storage (CCUS) to minimise environmental impacts without undermining oil production.

The institute also highlighted the importance of regional cooperation and capacity building in managing the transition. It advocated for more investment in research, training, and technological advancement to equip African professionals with the skills required to navigate the evolving global energy landscape.

Adimula further noted that Africa’s oil wealth presents a unique opportunity to fund renewable energy infrastructure such as solar, wind, and hydroelectric power. He argued that revenue from the oil sector could serve as a catalyst for achieving energy diversification and reducing carbon emissions in the long term.

“The proceeds from oil should be reinvested into renewable energy projects and industrial capacity. That is the sustainable path forward,” he said. “Our objective should not be to abandon crude oil but to use it wisely as a bridge toward a cleaner, more resilient energy future.”

Experts have warned that premature divestment from fossil fuels could also lead to stranded assets and loss of competitiveness in global energy markets. This, they say, would have severe socio-economic consequences for oil-dependent economies already grappling with high debt burdens and low diversification.

PTI’s position aligns with recent remarks by African leaders, including those from Nigeria and Angola, who have called for “just energy transition” frameworks that allow developing economies to exploit their natural resources responsibly while transitioning at their own pace.

The institute concluded that Africa’s path to net-zero emissions must be inclusive, economically viable, and supported by international financing and technology transfer. It urged global partners to adopt pragmatic approaches that recognise the continent’s developmental priorities.

As the world advances toward cleaner energy sources, PTI’s warning underscores the delicate balance African nations must strike between climate commitments and economic realities. The institute’s message reinforces a growing sentiment across the continent—that Africa’s oil reserves remain a vital asset for sustainable development and must not be hastily abandoned.