The Nigerian Content Development and Monitoring Board (NCDMB) has reiterated its support for the African Petroleum Producers Organisation (APPO) and its newly created financial arm, the Africa Energy Bank (AEB).
The pledge was made by the Executive Secretary of NCDMB, Engr. Felix Ogbe, during a courtesy visit by APPO’s Secretary General, H.E. Farid Ghezali, at the Board’s Abuja liaison office. Ghezali was accompanied by senior APPO officials, Mr. Bakary Traore and Mr. Tchananti Sahguir. The visit followed Nigeria’s recent handover of the fully set-up AEB office, paving the way for the bank’s official launch by APPO and Afreximbank, its joint owners.
Ogbe assured APPO of NCDMB’s institutional and operational backing, stressing that the success of both APPO and the Africa Energy Bank is vital to the long-term sustainability of Africa’s oil and gas sector.
He stated that NCDMB is prepared to support the launch of the Africa Energy Bank in line with the directives of President Bola Ahmed Tinubu and the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri.
In his remarks, Ghezali, who assumed office in January 2026, called for sustained collaboration with NCDMB to enhance APPO’s effectiveness, noting the strong historical relationship between the two bodies. He outlined reform measures aimed at improving transparency, encouraging timely financial contributions by member states, expanding membership, and increasing subscriptions. He also disclosed that Mauritania is expected to join APPO soon, a move that would further broaden the organisation’s reach across the continent.
Also Read: http://RIVCHPP Marks 2nd Anniversary, Eyes One Million Enrollees
The APPO Secretary General emphasised the importance of transparent processes in appointing the Governing Board of the Africa Energy Bank, as well as the need for robust governance structures to keep all member countries fully informed. He further highlighted the necessity of strict Know Your Customer (KYC) and credibility standards to ensure the bank’s integrity and inclusiveness.
Discussions also covered capacity development initiatives, including plans for an interactive platform to showcase African-certified companies in critical technical fields. Ghezali proposed leveraging NCDMB’s Nigerian Content Academy to drive training and skills development across APPO member nations.
Both parties underscored the need for fair distribution of project benefits, alignment of local content policies, technical support, knowledge exchange, and stronger regional cooperation, particularly within West Africa under the African Continental Free Trade Area (AfCFTA).
Key outcomes of the meeting include plans to launch the interactive local content platform in the first half of 2026, a renewed focus on financial discipline, the circulation of implementation roadmaps, follow-up on outstanding member contributions, and continued operational support for the Africa Energy Bank’s take-off.
Engr. Ogbe requested APPO to provide a detailed implementation roadmap, timeline, and an update on the bank’s financial status, while proposing a follow-up meeting to review progress.
The engagement concluded on an optimistic note, with both organisations reaffirming their commitment to transparency, collaboration, and strategic partnership in advancing Africa’s energy development goals.
