Nigeria has formally handed over the headquarters of the African Energy Bank AEB, an institution created to raise funding for Africa’s energy needs and strengthen energy supply chains across the continent.
The handover took place during the Nigeria International Energy Summit NIES 2026 in Abuja. The report also noted that the event happened ahead of the Bank’s planned operational launch in June 2026.
At the ceremony, the President of the African Petroleum Producers’ Organisation APPO and Côte d’Ivoire’s Minister of Mines, Petroleum and Energy, Mamadou Colibaly, praised Nigeria for its leadership and commitment to moving the project forward.
Colibaly said the Bank would be inaugurated no later than June and thanked partners for providing the headquarters and office space needed to begin operations. He described the African Energy Bank as a clear expression of Africa’s determination to finance, develop and secure its own energy future for the benefit of Africans.
APPO member states and the African Export Import Bank Afreximbank jointly established the African Energy Bank with an initial capital base of five billion dollars. The Bank aims to raise local and regional funding for energy infrastructure, cut dependence on foreign financing, and support investments that align with Africa’s long-term development and industrial growth objectives.
During the handover, the Minister of State for Petroleum Resources Oil, Senator Heineken Lokpobiri, said Nigeria had fulfilled all its responsibilities as host country.
Lokpobiri stated that the headquarters was fully equipped, well located, and ready for operations, adding that Nigeria was prepared for the Bank to begin work immediately.
Speakers at the event stressed that the African Energy Bank goes beyond being a financial institution and plays a key role in Africa’s push for economic self-reliance and sustainable energy security. They said the handover marked the start of a new phase in which Africans take the lead in funding, producing, and sustaining their energy systems.
The ceremony highlighted a shared African commitment to take greater control of the continent’s natural resources. Through focused financial tools, the Bank plans to support projects across the energy value chain, including exploration, refining, renewable energy development, and local content growth, with the goal of turning resources into jobs and real economic benefits.
The African Energy Bank is a pan-African institution set up by APPO member states and Afreximbank to provide tailored financing for energy projects across the continent and to support the development and integration of regional energy markets.
source:tribuneonlineng.com
African Energy Council