Nigeria Hands Over Africa Energy Bank Headquarters to APPO

Nigeria has officially delivered the fully furnished headquarters of the Africa Energy Bank to the Association of African Petroleum Producing Countries (APPO), marking a significant step toward mobilising sustainable financing for oil and gas projects across the continent.

The handover ceremony, held in Abuja, was led by Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, alongside APPO President Mamadou Sangafowa-Coulibaly of Côte d’Ivoire. Senior APPO officials and representatives of Afreximbank, the bank’s financial partner, were also present. The headquarters is located on the third floor of the Afreximbank African Trade Centre in Abuja’s Central Area.

Lokpobiri noted that Nigeria had fulfilled all its commitments as host country, stressing that the bank is expected to begin operations by June 2026. He explained that the Africa Energy Bank was conceived to address Africa’s long-standing challenge of accessing affordable financing for fossil fuel projects amid global divestment pressures.

He argued that fossil fuels will remain dominant for decades and highlighted the bank’s role in supporting exploration, production, and infrastructure development across 18 member countries. “Africa’s biggest challenge is finance. That is why this bank was conceived,” Lokpobiri said, adding that recent global energy trends have validated Africa’s position on the need for a balanced energy mix.

APPO President Sangafowa-Coulibaly commended Nigeria’s leadership, describing the headquarters as functional and fit for purpose. He reaffirmed APPO’s commitment to ensuring the bank launches within months. APPO Secretary-General Farid Ghezali added that the institution will play a crucial role in mobilising capital for resource development, praising Afreximbank’s partnership as vital to its credibility.

The Africa Energy Bank, a joint initiative of APPO and Afreximbank, is designed to close the financing gap for oil and gas projects in Africa, supporting upstream, midstream, and downstream investments while enhancing energy security and enabling countries to monetise hydrocarbon resources responsibly.