Nigeria Hands Over Africa Energy Bank Headquarters to APPO
Nigeria has officially handed over the fully furnished headquarters of the Africa Energy Bank to the Association of African Petroleum Producing Countries (APPO), marking a significant step toward sustainable financing for oil and gas projects across Africa.
The ceremony in Abuja was led by Nigeria’s 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, also attended.
The headquarters is located on the third floor of the Afreximbank African Trade Centre in Abuja’s Central Area. Lokpobiri emphasized that Nigeria had fulfilled its obligations as host country.
“Nigeria is very happy today because this represents the fulfilment of our commitment,” he said.
He explained that several options were considered before settling on the current facility.
“This is about the third building. The first one was too big, the second had location issues, and eventually, we are happy that we got this one. It is furnished, paid for, and Nigeria is formally handing it over today,” Lokpobiri noted.
The minister stressed that delays had been resolved and the bank would begin operations by June 2026.
“Nigeria is committed to doing everything necessary for the bank to take off because of its strategic importance to oil and gas investment in Africa,” he added.
Lokpobiri highlighted Africa’s financing challenges amid global divestment from fossil fuels.
“Africa’s biggest challenge is finance. The Global North is using finance as a weapon against the developing South. We are victims of global emissions, yet we are told to stop exploiting our God-given resources,” he said.
APPO President Sangafowa-Coulibaly praised Nigeria’s leadership, describing the headquarters as “very functional for a bank.”
He added, “We are all committed to launching this bank as soon as possible, no later than June this year, and possibly even earlier.”
APPO Secretary-General Farid Ghezali said the bank would mobilize capital for resource development across Africa.
“Our interest is to make finance available for our members and even beyond, so we can invest in the exploration and exploitation of our natural resources for the benefit of our people,” he stated.