The Federal Government of Nigeria has officially handed over the completed and fully furnished headquarters of the Africa Energy Bank (AEB) to the African Petroleum Producers’ Organisation (APPO) and the African Export-Import Bank (Afreximbank), marking a key milestone toward the institution’s operational launch.
The handover ceremony, held in Abuja, was led by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and attended by senior APPO officials and Afreximbank representatives. At the event, Senator Lokpobiri confirmed that Nigeria has fulfilled all its obligations as host country for the bank’s headquarters, including procurement, construction and furnishing of the facility.
The new headquarters located on the third floor of the Afreximbank African Trade Centre in Abuja’s central business district was formally transferred to APPO and Afreximbank, which are essential partners in bringing the AEB into full operation. Lokpobiri described the moment as the culmination of Nigeria’s commitments and reiterated the government’s determination to ensure the bank begins operations on schedule.
“Nigeria is very happy to formally hand over this Africa Energy Bank building to APPO and Afreximbank, who are the enablers of the bank. We are committed to doing everything necessary for the bank to take off,” the minister said.
The Africa Energy Bank is expected to address the financing challenges facing Africa’s energy sector, particularly in the oil and gas value chain, by mobilising capital and supporting investment projects across the continent. Nigeria’s completion of its host obligations clears the final hurdle before the bank launches operations, which officials say could begin by April–June 2026.
APPO President Mamadou Sangafowa-Coulibaly of Côte d’Ivoire expressed appreciation for Nigeria’s leadership and support, highlighting the strategic importance of the bank in strengthening Africa’s energy financing capacity and reducing dependence on external funding. The establishment of the Africa Energy Bank aligns with continental efforts to develop African-based solutions to fund energy infrastructure and promote sustainable development, even as global financial institutions increasingly pull back from fossil fuel investment.
