Federal Government has designated January 28, 2025, as the deadline for operationalizing the $5 billion Africa Energy Bank in Abuja, Nigeria’s capital.
A Nigerian delegation, led by Amb. Nicholas Agbo Ella, Permanent Secretary of the Ministry of Petroleum Resources and Executive Board Member representing Nigeria at the African Petroleum Producers Organization (APPO), announced the timeline during the 19th Executive Board Meeting of the organization in Yaounde, Cameroon.
Amb. Ella emphasized Nigeria’s commitment to APPO’s ideals and the prompt establishment of the energy bank in Abuja.
He further stated that the Africa Energy Bank (AEB) aims to bridge financing gaps within the continent’s oil and gas industry.
“Nigeria won the hosting right for the establishment of the Africa Energy Bank (AEB) Headquarters in July 2024, after it competed with Ghana, Algeria, South Africa, and Benin Republic.
“I am pleased to address the Executive Board (EB) meeting on this very important subject matter – the take-off of the Africa Energy Bank Headquarters in Abuja, Nigeria.”
“As you are no doubt aware, the Headquarters building (of the Africa Energy Bank) was inspected by the Technical Team on 24th May 2024, and renovation works for its completion are ongoing. Nigeria is fully committed to delivering the building with furnishing to the bank in good time.
“We have the full support and cooperation of President Bola Ahmed Tinubu, and our National Assembly to actualise this project in Nigeria,” he said.
