#nj ayuk age

[nj-ayuk1]

NJ Ayuk on How To Transform Africa

The key to African redevelopment is to build better transregional partnerships that inspire the next generation, according to expert lawyer NJ Ayuk. 

“You start diversifying from day one,” the executive chairman of the African Energy Chamber said in an interview posted on his website. “We have to go back and look at what is the traditional African economy: It’s agriculture. If you can’t feed your people, you can’t have a sustainable economy.

“You can’t have a sustainable economy if you don’t build industries. The problem is we have to stop focusing so much on, ‘Let’s take this oil money and let’s use it to do all these things.’ Rather, we have to use the oil to transform the country and the economy.”

As one of the most prominent and most notable voices in the African energy and legal sectors, NJ Ayuk has been central to brokering some of the most important deals on the continent. In addition to his role at the African Energy Chamber, he’s founder and CEO of the Pan-African firm Centurion Law Group and the author of Billions at Play: The Future of African Energy and Doing Deals. Now in its second edition, Billions at Play is his thoughtful take on Africa’s energy future. 

He said, “The best thing to reverse the resource curse is taking not just money from oil but ensuring that the whole supply chain and the value is used to develop other sectors.

“If, for example, the government of Nigeria or the government of Congo takes 1 billion dollars from its oil resources and puts it into agriculture, that’s not enough. Money is not the only thing. You have to create an enabling environment for the other sectors to happen. If you don’t make it easy to create a business and have low taxes — without corruption — and ensure governance, you will not be able to create an agricultural sector.”

Relying on foreign companies and investments can hold Africa back in important ways, denying jobs, profits, and the potential to spur new growth to people on the continent, he said.

Ayuk told Forbes, “There are movements toward regional economic integration that will enhance prosperity, but it is too little and the continuous protectionist drive is killing most economies. Why do we have local content? Why can’t we have Africa content to ensure more African investment and participation in the industry? We need to start thinking big.”

NJ Ayuk, who regularly advises African government entities on judicial modernization and rule of law issues, said the public sector must also work harder at training future generations for new jobs. 

It’s a pressing issue. As a young continent, with nearly 40% of its population under the age of 15, Africa needs to add more jobs to accommodate an expanding workforce. As the population ages, it will require additional infrastructure and opportunities, he said. But Ayuk is optimistic about the future.

“With many more export terminals planned to come online over the next two years, this aspect of the natural gas business is poised for a boom around Africa. A lot of good policies are coming, and some heavy-handed regulations are being rolled back,” he said. “If we have an environment of higher commodity prices, lower regulatory costs, rising demand, and expanding use for domestic gas and exports all combined, [it] creates a more profitable environment for Africa’s oil and gas industry.”

Because he works across the continent, NJ Ayuk has a viewpoint that encompasses Africa as a whole. He believes the government has a lot of work to do to advance his home continent.

“Governments have a responsibility to set up the fundamental frameworks like education. We cannot expect the [international service companies] to be the ones who are going to train, develop, and prepare our people to serve the industry. It is not their job; we have to set up our education and ensure schools are ready and competitive globally. Once you set up that base, every African child can compete. It is about rights and responsibilities.”

[njayuk441]

Nigerian oil tycoon Arthur Eze of Atlas Oranto Petroleum recently closed, alongside Noble Energy and Glencore, a $350 million deal on pooling supply from stranded gas fields in Equatorial Guinea and the Gulf of Guinea to replace declining output from the Alba field. For more NJ Ayuk details visit https://energychamber.org/

[asthaganjre-blog]

As I started writing my recent book Billions At Play, African Energy's Future and Doing Deal, I was intrigued by Qatar's story. Its success is contagious and can be learned from this country by African LNG producers.

Qatar learned that in 1971 when Royal Dutch / Shell discovered the North Dome structure, also known as the North Field, it had huge natural gas reserves. However, at the time, neither Shell nor the government of Qatar was very interested in developing the site. Their focus was on crude oil, which was then making the country very rich.

As a result, for more than a decade, nothing much happened in North Dome. Shell did not actively pursue development work there, nor did Qatar General Petroleum Co. (QGPC, now known as Qatar Petroleum or QP), who benefited from Doha's oil and gas industry nationalization in 1977.

In the late 1970s, conditions began to change. After 1979, Qatari crude production began to decline as the largest oil fields in the country matured. In addition, international oil companies (IOCs) started losing interest in signing service contracts with QP as they did not believe Qatar's declining asset base warranted massive long-term investments.

These developments have had a little immediate impact as crude prices have risen sufficiently to keep revenues high. But oil prices fell in the 1980s–and along with them brought down oil revenues. As a result, the government of Qatar started to look for new ways to generate revenue. Gas was an obvious option as there was a rise in global demand and ample national reserves.

Due to the small size of the Qatar population, the first phase, which provided for domestic gasification, was a relatively simple process. But events in the late 1980s and early 1990s made it harder to build an export pipeline capable of delivering up to 20 billion cubic meters per year to other Gulf Cooperation Council (GCC) member states.

The failure of the pipeline gave Qatargas the opportunity to skip the project's second phase and proceed directly to the third phase–namely, using North-field production as a feedstock for a gas liquefaction plant that could result in tanker exporting LNG. At the same time, rising demand for gas has given Qatar an incentive to focus on LNG in Japan, South Korea, and Taiwan.

[njayuk441]

Arthur Eze is another powerful example of African business leaders working for a better African future. Eze, usually referred to as Prince Arthur Eze because he is descended from tribal royalty, is the founder of Atlas Petroleum International and Oranto Petroleum. For more NJ Ayuk details visit https://energychamber.org/

[njayuk441]

Africa has no shortage of people determined to improve its future, and it has what it needs to fuel their efforts: enormous stores of oil and gas resources. The last 12 months have been an exceptionally exciting time in terms of discoveries. For more NJ Ayuk details visit https://energychamber.org/

[njayuk441]

Arthur Eze is another powerful example of African business leaders working for a better African future. Eze, usually referred to as Prince Arthur Eze because he is descended from tribal royalty, is the founder of Atlas Petroleum International and Oranto Petroleum. For more NJ Ayuk details visit https://energychamber.org/

[njayuk441]

Long before Nyonga Fofang took the helm of private equity firm Bambili Group in South Africa, the Harvard-educated financier made a name for himself on Wall Street. I quoted him in my book to help make a case for the importance of foreign investment in Africa. For more NJ Ayuk details visit https://energychamber.org/

[njayuk441]

Long before Nyonga Fofang took the helm of private equity firm Bambili Group in South Africa, the Harvard-educated financier made a name for himself on Wall Street. I quoted him in my book to help make a case for the importance of foreign investment in Africa. For more NJ Ayuk details visit https://energychamber.org/

[njayuk441]

Long before Nyonga Fofang took the helm of private equity firm Bambili Group in South Africa, the Harvard-educated financier made a name for himself on Wall Street. I quoted him in my book to help make a case for the importance of foreign investment in Africa. For more NJ Ayuk details visit https://energychamber.org/

[njayuk441]

Arthur Eze is another powerful example of African business leaders working for a better African future. Eze, usually referred to as Prince Arthur Eze because he is descended from tribal royalty, is the founder of Atlas Petroleum International and Oranto Petroleum. For more NJ Ayuk details visit https://energychamber.org/

[njayuk441]

Arthur Eze is another powerful example of African business leaders working for a better African future. Eze, usually referred to as Prince Arthur Eze because he is descended from tribal royalty, is the founder of Atlas Petroleum International and Oranto Petroleum. For more NJ Ayuk details visit https://energychamber.org/

[njayuk441]

Arthur Eze is another powerful example of African business leaders working for a better African future. Eze, usually referred to as Prince Arthur Eze because he is descended from tribal royalty, is the founder of Atlas Petroleum International and Oranto Petroleum. For more NJ Ayuk details visit https://energychamber.org/

[njayuk441]

Long before Nyonga Fofang took the helm of private equity firm Bambili Group in South Africa, the Harvard-educated financier made a name for himself on Wall Street. I quoted him in my book to help make a case for the importance of foreign investment in Africa. For more NJ Ayuk details visit https://energychamber.org/

[njayuk441]

Nigerian oil tycoon Arthur Eze of Atlas Oranto Petroleum recently closed, alongside Noble Energy and Glencore, a $350 million deal on pooling supply from stranded gas fields in Equatorial Guinea and the Gulf of Guinea to replace declining output from the Alba field. For more NJ Ayuk details visit https://energychamber.org/

[njayuk441]

Benedict Peters, chairman and CEO of energy conglomerate AITEO Group, will serve on the board of advisors for the US-Africa Business Centre. There he will be able to provide relevant insights that lead to valuable economic opportunities for Americans and Africans. For more NJ Ayuk details visit https://energychamber.org/

[njayuk441]

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