Overall, the Oil and Gas Sector is expected to inject 20 Billion US Dollars into the economy over the next five years. There is optimism that domestic companies can tap and retain up to US Dollars 6 Billion every year.
Out of the 54 African states, 34 have ratified the charter. They include Ghana, Sudan, Rwanda and South Africa. Uganda, Burundi, Somalia, and Zimbabwe signed but have not ratified it, while 6 states, Tanzania, Egypt, Botswana, Eritrea, Libya and Morocco have not signed or ratified.