July 04, (THEWILL) – Nigeria has beaten Ghana, Benin, and Algeria to win the bid to host the headquarters of the African Energy Bank (AEB).
Minister of State for Petroleum Resources, Oil, Heineken Lokpobiri, disclosed this to newsmen on Thursday, in Abuja, after a meeting of the Council of Ministers of African Petroleum Producers’ Organisation and Afrexim Bank, the joint promoters of the bank.
AEB is a global multilateral institution aimed to finance Africa’s hydrocarbon deposits of oil, gas and condensates and support energy transition and net zero 2060 commitments.
Speaking with newsmen, Lokpobiri said: “The Council of Ministers of African Petroleum Producers’ Organisation (APPO) has just approved Nigeria to host the headquarters of the African Energy Bank.
“The biggest challenge we have in Africa as oil-producing countries is funding, so a short while ago, the council held a meeting and said the solution is the Energy Bank.
“This is one of the biggest achievements of this administration. Funding has been the biggest challenge of our sector and once this is solved, all these smear campaigns of abandoning fossil fuel will be completely eroded.”
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