By Tochukwu Bliss, Abuja
Preparations for the takeoff of the African Energy Bank (AEB) are in their final phase following a high-level stakeholders’ review meeting in Abuja, hosted by the Minister of State Petroleum Resources (Oil), Heineken Lokpobiri.
Also present at the meeting were the President, Afreximbank, Prof. Benedict Oramah; and the Secretary-General, African Petroleum Producers’ Organisation (APPO), Dr Omar Farouk Ibrahim, according to a statement signed by the Minister’s Spokesperson, Nneamaka Okafor.
Mr. Lokpobiri, a former Senator of the Federal Republic, was quoted as saying: “The AEB is poised to become a transformative financing platform for energy projects across the continent.
“This review confirms that every critical milestone is either completed or on schedule, and we remain fully aligned with our continental partners. Many thanks to President Bola Ahmed Tinubu for his support and commitment to seeing this project to fruition.”
According to him, the key legal and governance frameworks have been concluded, while capital mobilisation discussions have recorded “encouraging commitments from both member nations and private investors.”
Our collective focus is on delivering a bank that catalyses investment, accelerates energy security, and drives economic growth across Africa.
He noted that Nigeria’s role as host country reflects its long-standing leadership within Africa’s hydrocarbon sector.
The Minister also reiterated the stakeholders’ commitment to transparency and efficiency throughout the final preparatory stages.
“Our collective focus is on delivering a bank that catalyses investment, accelerates energy security, and drives economic growth across Africa,” he added.
Commenting, Prof Oramah reiterated Afreximbank’s preparedness “to deploy its structuring expertise and capital base to ensure the AEB launches with the strength and credibility required to attract global co-investors.”
On his part, Dr Ibrahim commended the pace of work, saying: “We are impressed by Nigeria’s dedication to meeting the stringent requirements for bank establishment.
“The collaboration we witnessed today signals a unified resolve to deliver affordable, sustainable energy to Africans.”
At the meeting, the parties confirmed that a definitive launch timeline and inaugural board meeting date have been fixed and are expected to be announced shortly.
