Abuja: Nigeria has fully met its financial and institutional obligations for the takeoff of the Africa Energy Bank, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, announced on Thursday.
He said the move positions Nigeria as a key player in the continent’s energy financing drive, ensuring the country is ready to benefit from the bank’s launch and future investments in the sector.
Speaking during an inspection of the newly furnished AEB headquarters in Abuja on Thursday, Lokpobiri said the facility had been delivered in the best location and was fully equipped to begin operations.
“I came to inspect the headquarters furnishing of the Africa Energy Bank, and I am happy to disclose to Nigerians, Africans, and the world that Nigeria has delivered on all the obligations made for us to fulfil as the host country.
“The headquarters is ready, tastefully furnished, and we are ready for the bank to take off,” he said.
Lokpobiri said the Federal Government was awaiting the African Petroleum Producers’ Organisation (APPO) and the African Export-Import Bank (Afreximbank), the drivers of the AEB’s establishment, to complete the final procedural steps for operational commencement.
“We are trying to invite the APPO ministers to come to Nigeria so that we can show them that we have fulfilled our promise.
“The building is ready, and once they are here, we will hand it over,” he added.
Lokpobiri said that Nigeria had provided all the facilities and support expected of a host nation, expressing confidence that the bank’s swift takeoff was assured.
The establishment of the bank is a collaborative move between Afreximbank and the APPO, which will see the bank take off with an asset base of $5 billion.
It is projected to grow to 120 billion dollars over the next five years, marking a significant milestone in Africa’s quest for energy security and sustainability.
The bank is expected to bridge Africa’s energy financing gap.
