Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, says that the fully furnished $5bn African Energy Bank (AEB) Headquarters in Abuja is ready for operations.
Speaking during an inspection of the proposed headquarters of the $5 billion AEB in Abuja, the minister said that the Energy Bank was fully ready for takeoff.
Lokpobiri explained that Nigeria has delivered on all its obligations to the bank and that the AEB is a new continental financial institution created to support Africa’s energy sector, with a particular focus on oil, gas and renewable transition projects.
According to him, the project was jointly initiated by African Petroleum Producers’ Organisation (APPO) and African Export-Import Bank (Afreximbank) with the central purpose of providing long-term, Africa-led financing for energy development at a time when global lenders are withdrawing support for fossil fuel projects.
He added that the bank is designed to help African countries fund upstream exploration, refinery upgrades, gas infrastructure, power generation and cleaner-energy investments without relying heavily on external institutions that now prioritise climate-related restrictions.
Local media reports that Lokpobiri inspected the headquarters in Abuja alongside the APPO Secretary General, Dr. Omar Farouk Ibrahim, and Afreximbank Executive Vice President (EVP), Mr. Haytham El Maayergi.
“I came to inspect the headquarters, furnishing of the Africa Energy Bank and I’m happy to disclose to the world and Nigerians and Africans that Nigeria has delivered on all the obligations made for us to fulfil as host country.
“The headquarters is ready, tastefully furnished in the best location and so we’re ready for the bank’s to takeoff. So we’re waiting for APPO and AfreximBank, who are the drivers of this process, to facilitate the takeoff of the bank.
“But what Nigerians and the world need to know today is that as a host country we have met all our obligations and the building is ready. The bank is ready to go,” the minister said.
Speaking on whether the AEB has been officially handed over, Lokpobiri said that the details were being worked out for the formal takeover.
“These are details that will be worked out any day they are ready to come. But we’re trying to invite the APPO ministers to come to Nigeria so that we can show it to them and say, look, this is what we promised. We fulfilled it. The building is ready. And then we’ll hand it over. But it is ready.
“The important point is that we have met our obligation. As a host country, we provided everything that is expected of us as a host country to provide. So is this an indication that the bank is well on its way,” the minister added.
GIK/APA