Audio By Carbonatix
An International Relations Analyst, Ishmael Hlovor, has underscored the importance of continental unity in addressing the challenges African countries face in procuring crude oil from Western nations and the Middle East.
Speaking on The Pulse on Joy News on Monday, March 16, Dr Hlovor argued that stronger collaboration among African countries could help the continent reduce its heavy dependence on external sources of crude oil.
His comments came during a discussion on the ongoing conflict in the Middle East and its implications for Africa’s energy sector. According to him, the continent possesses significant potential in oil production, which could be harnessed through greater cooperation among African states.
"It is time we put in the work to make sure that Africa's unity is a solution to the problems we are facing as Africans, because we can not have the huge reserve of fuel across Africa and yet we are not able to put in the infrastructure that allows us to refine our oil and trade it here," he argued.
Dr Hlovor explained that if African countries work collectively to develop their oil resources, the continent could produce sufficient crude oil for domestic consumption. This, he noted, would shield African economies from the shocks of global geopolitical tensions, including conflicts that disrupt energy supply chains.
"If you take a conflict (USA-Israeli-Iran tension) like this and the effect it is having on oil prices across the West African region, then it comes with one solution. Nigeria produces a huge volume of fuel per day, and equally, Ghana produces some level as well, and so if we had developed a regional market that allows us to trade among ourselves, we can develop an oil and gas infrastructure that allows us to have a common framework, which is pricing. This effect may not have the effect it is having across the sub-region," he said.
"We must come to one solution that the current geopolitical situation makes Africa's unity an important issue; we can no longer wait. We need to understand that either we unite or we perish," he added.
His remarks come at a time when fuel prices in Ghana have begun to rise at the pumps, barely a month after a significant reduction.
The recent increase has been widely linked to the ongoing tensions in the Middle East, which continue to influence global oil prices.
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