Nigeria on Monday formally handed over the fully furnished headquarters of the Africa Energy Bank to the Association of African Petroleum Producing Countries, marking a major step in unlocking sustainable financing for oil and gas investments across the continent. The handover ceremony took place in Abuja and was led by the Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, alongside APPO President Mamadou Sangafowa-Coulibaly of Côte d’Ivoire. Representatives of Afreximbank, the bank’s financial partner, were also present.
The Africa Energy Bank will be housed on the third floor of the Afreximbank African Trade Centre in Abuja’s Central Area. Lokpobiri said the delivery of the headquarters fulfilled Nigeria’s commitments as host country and confirmed that the bank is set to commence operations by June 2026.
He emphasised the strategic importance of the institution, noting Africa’s challenges in accessing affordable financing for fossil fuel projects amid global pressure to divest from hydrocarbons. “Africa is blessed in abundance, but the problem is finance. That is why this bank was conceived,” Lokpobiri said.
The bank will serve 18 member countries and support exploration, production, and energy infrastructure development across the continent. Next steps include shareholder meetings, appointment of management, recruitment of staff, and formal operational launch.
APPO President Sangafowa-Coulibaly praised Nigeria’s leadership and described the new headquarters as functional and well suited for a financial institution. APPO Secretary-General Farid Ghezali highlighted the bank’s role in mobilising capital for resource development and energy security in Africa.
The Africa Energy Bank, a joint initiative of APPO and Afreximbank, aims to provide funding for upstream, midstream, and downstream oil and gas projects while helping African countries monetise hydrocarbon resources responsibly. With the handover of the Abuja headquarters, stakeholders say the bank is now firmly positioned to begin operations and reshape energy financing on the continent.
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