ISSN: 2578-4846
Authors: Ejenavi OL*
Sustainability goals integration in a petro-context could be considered irreconcilable. Harnessing SD goal synergies in the African petroleum sector may even be supremely problematic. Africa still grapples with a knotty mix of convoluted challenges, ranging from poverty, insecurity, drought, to extreme underdevelopment. Having contributed the least to the global climate dilemma, Africa still must bear the brunt of negative climate impacts, whilst shouldering its daunting chunk of climate adaptation and mitigation commitments. Moreover, a huge dependency on fuel imports, escalating debt profile and funding shortfalls, plague many countries at the subregional levels. In a relentless chronicle of woes, the region exhibits the highest energy deficiencies whilst contending with excruciatingly prohibitive petroleum importation costs soaring over $100 Billion USD annually. Similarly, Africa’s annual investment projections for energy are an estimated $190 billion USD. The implication is that, whereas the region has to achieve SD target obligations, its most credible means of optimising goal synergies, should be via an approach that targets energy sustainability, which remains an indispensable driver of most sustainability goals. To achieve this aim, a continental prioritization of regional partnerships is advocated to engender a sustainable petroleum sector. This is deemed crucial because of the considerable benefits the sector wields towards SDGs actualization and its relevance as a viable connector and pivot towards cleaner energy transition.
Keywords: Sustainable Development; Partnerships; Petroleum; Climate-Action; Finance
