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#AOP2019: Free market capitalism will work best for Africa

African oil and gas champion, NJ Ayuk, is unabashed in his support of free market capitalism, saying it is the economic model that will work best for Africa.
NJ Ayuk
NJ Ayuk

He told the African Oil and Power conference in Cape Town that there needs to be better regulations across all jurisdictions, regulations that are fair and supportive of local industry, while also encouraging international investment. “When we look at legislation, we must be sure it is job friendly.”

Local content policies need to drive new industry and strengthen economies without placing an unrealistic burden on what it means to operate in a new oil and gas market. “We need to get the oil out of the ground.”

In addition, Nyuk said it is imperative that women take an active role in the energy sector. “We need to do more. We need to step up and demand more women in leadership roles. There is a gas ceiling, not a glass ceiling. There should be women on oil rigs. There’s nothing strange about it. It does not make us less African.”

Ayuk also highlighted the importance of gas in the continent’s energy mix, citing the rise of the Senegal in the sector. “We need to promote gas that works for Africa.”

About Nicci Botha

Nicci Botha has been wordsmithing for more than 20 years, covering just about every subject under the sun and then some. She's strung together words on sustainable development, maritime matters, mining, marketing, medical, lifestyle... and that elixir of life - chocolate. Nicci has worked for local and international media houses including Primedia, Caxton, Lloyd's and Reuters. Her new passion is digital media.
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