In a bid to reaffirm its leadership in advancing Africa’s energy security, Nigeria has successfully handed over the headquarters of the Africa Energy Bank (AEB) to the African Petroleum Producers’ Organization (APPO), marking a critical milestone toward the operationalisation of the Bank.
In a statement signed by the Special Assistant on Media and Communication to the Minister of State for Petroleum Resources (Oil), Nneamaka Okafor, the Federal Government said the handover underscores Nigeria’s unwavering commitment to Africa’s collective energy aspirations and the drive for continental energy sovereignty.
Speaking at the ceremony, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Ph.D, emphasised Africa’s responsibility to address its energy challenges from within. He noted that the establishment of the AEB reflects a shared determination to deploy African capital and expertise for African development.
“If Africa is to overcome energy poverty and unlock sustainable growth, we must mobilise our own institutions and resources, and AEB represents a decisive step in that direction” he stated. The President of APPO, H.E. Mamadou Sangafowa Coulibaly, expressed deep appreciation to the Government and people of Nigeria, describing the handover as a defining moment for the continent.
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“This is a critical milestone for Africa,” . “We are all coming back to Nigeria to launch the Bank no later than June this year. AEB is a pragmatic solution to Africa’s energy and development challenges, and I particularly thank Nigeria and the Minister of State for Petroleum Resources (Oil) for the tremendous efforts made to reach this stage.”H.E. Mamadou Sangafowa Coulibaly said.
In his remarks, the APPO Secretary-General commended the achievement, noting that many had doubted its feasibility. “This is proof that Africa can deliver on bold initiatives,”. “Every single drop of oil matters to Africans, because energy is the foundation upon which we can meet the needs of our people.” he noted.
The President of Afreximbank, represented by a Vice President of the Bank, also applauded Nigeria for meeting its obligations, noting that “there can be no economic liberation without energy, and with the Africa Energy Bank, we are deliberately building Africa’s economic sovereignty.”
With the Africa Energy Bank headquartered in Abuja, stakeholders expressed optimism that the institution will catalyse investment, retain value within the continent, and deliver transformative impact for Africa’s energy and economic development.
