Minister of State for Petroleum Resources Heineken Lokpobiri announced on Thursday that Nigeria has been chosen as the host country for the headquarters of the African Energy Bank (AEB).
This decision, made following a meeting of the Council of Ministers of the African Petroleum Producers Organisation and Afrexim Bank in Abuja, marks a significant milestone for Nigeria and the continent.
The AEB aims to support energy projects across Africa and promote the development of hydrocarbon resources while committing to energy transition and net-zero goals.
Lokpobiri expressed pride in Nigeria’s selection, emphasizing it as a testament to the country’s leadership and dedication to the energy sector.
He highlighted the potential of this achievement to enhance Nigeria’s influence in Africa’s energy sector and contribute to sustainable development.
The establishment of the $5 billion Africa Energy Bank in Nigeria is expected to boost the country’s Gross Domestic Product (GDP) and generate new employment opportunities, thereby shaping Nigeria’s oil and gas industry in the regional context.
