Tein Jack-Rich, President of Belemaoil Group and former APC presidential aspirant, has reiterated the immense potential of Africa to exit energy poverty. Speaking at the ENGICE 2025 conference in Abuja, Nigeria, Jack-Rich emphasised the continent’s vast resources and young population, making a strong case for Africa’s energy independence.
“Africa is a continent of immense wealth, with a map spanning 30 million square kilometers,” Jack-Rich noted. “With 25% of the world’s young population, 60% of whom are aged 25 and below, and a country with a natural gas reserve of 620 trillion cubic feet, we have the capacity to exit energy poverty.”
Highlighting Nigeria’s significant contribution to Africa’s energy landscape, Jack-Rich pointed out that the country accounts for one-third of the continent’s natural gas reserve, with 210 trillion cubic feet and a market value of over $803.4 trillion.
“A country in major economic boom, with a young population and vast natural resources, we have the potential to drive Africa’s energy independence,” Jack-Rich asserted.
To achieve this goal, Jack-Rich outlined a clear roadmap, emphasising the need for a multi-faceted approach. “To achieve energy independence, we must focus on three fundamental strategies,” he stated. “We need the right policy, legislation, financing, infrastructure, and opportunities to consume. With these elements in place, we can change the narrative and drive Africa’s energy future.”
Jack-Rich expressed confidence that the ENGICE 2025 conference, which kicked off with the prestigious Nobel Award, would spark a sustained conversation among policymakers, business leaders, and stakeholders. “This event is just the beginning,” he said. “We will continue to echo the message that Nigeria, and indeed Africa, has the capacity to drive the process and exit energy poverty.”
Belemaoil Producing Limited, founded by Tein Jack-Rich, is a trailblazer in Nigeria’s oil and gas sector. As the first indigenous oil company in the country, Belemaoil has broken barriers and set new standards in the industry. With a vision to harness Nigeria’s vast energy resources for the benefit of its people, Jack-Rich established Belemaoil to promote local participation and expertise in the oil sector. Under his leadership, the company has achieved significant milestones, including the award of a license to establish a crude export terminal, boosting Nigeria’s economy and creating job opportunities for Nigerians.
Belemaoil’s success is a testament to Jack-Rich’s entrepreneurial spirit and commitment to nation-building. The company’s operations have not only contributed to Nigeria’s energy output but have also created a platform for local capacity building and technology transfer. As a pioneer in the industry, Belemaoil is setting the pace for other indigenous companies to follow, demonstrating that with the right policies, legislation, and infrastructure, Nigeria can achieve energy independence and drive sustainable economic growth. With Tein Jack-Rich at the helm, Belemaoil is poised to continue playing a leading role in shaping Nigeria’s energy future.
As a respected voice in Nigeria’s energy sector and a visionary leader, Tein Jack-Rich’s remarks underscore his commitment to promoting sustainable economic growth and energy independence in Africa. His passion for harnessing Africa’s resources for the continent’s development has earned him recognition as a champion of Africa’s energy future.
