African petroleum regulators led by Nigeria have launched a continental forum aimed at harmonising oil regulation in a bid to attract crucial investment across the region’s burgeoning energy sector, the Nigerian oil regulator said in a statement.
Due to declining investment dollars, African oil regulators are betting that a more integrated energy market where rules are consistent and transparent across jurisdictions can unlock capital.
Sixteen countries gathered in Accra to witness the signing of the charter establishing the African Petroleum Regulators Forum (Afriperf).
The signing ceremony, held on the sidelines of Africa Oil Week, was chaired by Gbenga Komolafe, head of Nigeria’s upstream regulator, the Nigerian Upstream Petroleum Regulatory Commission.
Regulators from eight countries, including Nigeria, Ghana, Somalia, Gambia, Madagascar, Sudan, Guinea, and Togo, formally endorsed the charter, while seven others pledged support pending domestic consultations.
Afriperf aims to become the continent’s premier platform for regulatory cooperation, knowledge sharing and investment promotion in the petroleum sector. Its mission includes:
- creating standards;
- enhancing transparency; and
- addressing cross-border challenges such as gas trade, emissions and digitalisation.
“This is a decisive step toward building a harmonised and sustainable petroleum industry in Africa,” said Komolafe, who serves as interim chairman of the forum, noting that the forum will help ensure Africa’s hydrocarbon resources are managed with “innovation, responsibility, and foresight”.
The forum will be governed by an executive committee of regulatory heads, supported by a technical committee of subject-matter experts and a rotating secretariat.
Elections for Afriperf’s chairperson and headquarters location are expected in the coming months.
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The move reflects a growing push by African nations to align energy governance with global standards while asserting a stronger voice in international energy policy.
Reuters
