… calls for Africa-led energy financing.
Oredola Adeola
The Federal Government of Nigeria has officially handed over the headquarters of the African Energy Bank (AEB), marking a major milestone in the establishment of the flagship institution designed to mobilise capital for Africa’s energy priorities and strengthen the continent’s energy value chains.
The handover ceremony was held on Monday on the sidelines of the Nigeria International Energy Summit (NIES) in Abuja.
The event was attended by Mamadou Sangafowa-Coulibaly, President of the African Petroleum Producers’ Organization (APPO) and Côte d’Ivoire’s Minister of Mines, Petroleum and Energy, alongside Farid Ghezali, Secretary-General, as well as the President of Afreximbank,
Mamadou Coulibaly in his remark commended Nigeria’s leadership in driving the initiative and announced that the African Energy Bank is expected to commence operations in June.
He expressed appreciation to partners for providing the headquarters facilities, describing the Bank as a symbol of Africa’s resolve to finance, develop and secure its energy future by Africans, for Africans.
The African Energy Bank is a joint initiative of APPO member states and the African Export-Import Bank (Afreximbank), with a mandate to mobilise domestic and regional capital for energy infrastructure, reduce dependence on external financing, and align investments with Africa’s long-term development and industrialisation objectives.
Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), during the ceremony said Nigeria had fulfilled all its obligations as host, noting that the headquarters is strategically located, fully equipped and ready for immediate take-off.
He described the African Energy Bank as more than a financial institution, but a cornerstone of Africa’s quest for economic independence and long-term energy security, marking the beginning of a new era in which Africans finance, produce and sustain their own energy future.
The ceremony reflected a shared African commitment to taking greater ownership of the continent’s vast natural resources, with speakers highlighting that the Bank will deploy targeted financial instruments to support projects across the energy value chain — including exploration, refining, renewable energy integration and local content development — to drive economic value and job creation.
The African Energy Bank is a pan-African institution jointly established by APPO member states and Afreximbank, aimed at strengthening regional energy markets, boosting value addition and supporting sustainable development through improved access to capital.
