Nigeria’s Oil Minister, Senator Heineken Lokpobiri, has expressed confidence that Nigeria is on course to deliver a world-class Africa Energy Bank (AEB) that will serve Africa’s energy sector with distinction.
The Minister stated this on Monday while inspecting the Africa Energy Bank (AEB) building in Abuja, ahead of its anticipated commencement of operations.
Recall that in November 2024 Nigeria won the right to host the AEB’s headquarters specifically in Abuja, the nation’s capital.
Lokpobiri said he was impressed with the remarkable level of progress achieved in the construction of the facility so far.
According to him, “Walking through the facility, I was quite impressed by the remarkable level of progress achieved thus far. 
“It is particularly encouraging to observe how closely the current state of the infrastructure aligns with our set targets and timelines for operational readiness.
“As we move steadily towards the formal launch, this inspection reinforces my confidence that we are firmly on course to deliver a world-class institution that will serve Africa’s energy sector with distinction.”
The Africa Energy Bank (AEB) is a newly established financial institution in Africa, aiming to address the funding gap in the continent’s oil and gas sector.
It’s a joint initiative between the African Petroleum Producers’ Organization (APPO) and the African Export-Import Bank (Afreximbank). The AEB is expected to launch in June 2025.
The AEB is expected to launch operations in June 2025.
