By Onyeanuforo Charles Ikechukwu
The world is on the verge of another industrial revolution and in order for this to happen, energy has a crucial role to play.
Energy drives economic development of nations and hence is important in filling the energy gap between Africa and the rest of the world. Accounting for 16% of the total population of the world and 53% of the world's population without energy, Africa is left with a lot to do to advance with the rest of the world towards the attainment of the United Nation's declaration of 2014-2024 as the 'Decade of Sustainable Energy'.
'How can Africa achieve energy from non-exhaustible resources such that it's use presently does not jeopardize the ability of future generations to meet their needs?', is the vital question and the answer lies in the abundant energy resources native to Africa namely natural gas, hydropower and biomass.
With various Energy Outlook projecting natural gas as supplying 40% of global demand for energy, Natural gas' versatility to meet electricity for commercial and residential use and also transportation demands has seen it emerge as a viable option to toxic energy sources.
With abundant deposit in Nigeria, Mozambique, Tanzania and recently Senegal it can be utilized on scale however it remains unexplored due to the large investments required; a figure estimated by the African Development Bank to be in the region of 50-70 billion dollars.
The unexplored hydropower resources in Central Africa, especially in Congo is a massive opportunity for power generation that has remained so due to political instability and insecurity in the region making it unhealthy for investment.
Successes in Ivory Coast, Nigeria and other coastal regions have seen power generation extended to countries further inland highlighting the dominant force that Congo can be with the right conditions.
The great amount of agricultural waste in farming operations presents a viable feedstock for alternative liquid fuel production for the transport sector.
Simultaneous development of land for food crops thereby boosting biofuels feedstock present a long term research and development option with present benefits hindered by unavailability of cost-effective processing techniques.
Despite these, African countries are increasingly coming together to create the necessary political and business framework to build her energy capacity.
The political will in terms of making policies to enhance the ease of doing business is gradually improving. Africa remains highly optimistic as she sees achievable steps to ensure her energy future.
Inter-regional co-operation on security, energy generation and supply as well as partnership with development partners in and out of Africa has seen investors' interest soar as evidenced by USAID's 'Power Africa' project, forecasting a bright future for Africa's energy.
