Oil & Gas

Sixteen African countries signed or endorsed the AFRIPERF Charter on September 18, 2025, during the Africa Oil Week in Accra, Ghana. The new forum, officially known as the African Petroleum Regulators Forum (AFRIPERF), aims to be the continent’s leading platform for cooperation, standard-setting, and regulatory harmonization in the oil and gas sector. Chaired by Gbenga Komolafe, head of Nigeria’s upstream oil regulator, the forum seeks to create a more transparent, investment-friendly environment to attract much-needed capital.

Nigeria, Africa’s largest oil producer, led the initiative and reaffirmed its leadership in the region’s energy sector. By signing the AFRIPERF Charter, participating countries commit to aligning their regulatory frameworks, streamlining approval processes, and working collectively to enhance investor confidence. The goal is to counteract a sharp decline in foreign investment, which has seen major players like ExxonMobil exit Ghana and Equinor leave South Africa in recent years.

The timing of AFRIPERF's launch is critical. Major oil and gas projects across Africa, such as Uganda’s EACOP pipeline and Mozambique’s LNG developments, are facing significant delays and funding constraints. International financial institutions have increasingly scaled back funding for fossil fuel projects, citing environmental concerns. However, the African Energy Chamber (AEC) has criticized this trend, calling it “financial apartheid,” and arguing that Africa is being unfairly denied the same energy transition financing seen in Europe.

With over 600 million Africans lacking access to electricity and 900 million relying on unsafe cooking fuels, the retreat from oil investment poses a direct threat to the continent’s energy security and development goals. The International Energy Agency (IEA) warns that oilfield decline rates are accelerating globally, and nearly 90% of upstream investments are needed just to maintain existing production. In this context, AFRIPERF offers a unified response by African nations to preserve energy sovereignty, attract capital, and ensure that their vast resources contribute to economic growth and energy access.