Nigeria Hands Over Africa Energy Bank Headquarters

Nigeria has fulfilled its final obligations for the launch of the Africa Energy Bank, clearing the way for the institution to begin operations in the coming months.

At a handover ceremony in Abuja on Monday, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, announced that the government had concluded the procurement, construction, and furnishing of the bank’s headquarters. The facility has now been formally transferred to the African Petroleum Producers’ Organisation and the African Export-Import Bank, key partners enabling the bank’s establishment.

“Nigeria has fulfilled all her commitments, and the last commitment was this bank,” he said.

Nigeria Hands Over Africa Energy Bank HQ

He explained that earlier efforts to construct the headquarters had encountered setbacks related to design scale and location suitability.

“Attempts were made to construct the bank three times. The first was discarded as too large, and the second was not accepted due to its location. We are happy that we got this one right,” he said, adding that the newly completed structure is fully furnished and ready for immediate use.

Emphasising the Bank’s importance to Africa’s energy investment landscape, Lokpobiri pledged continued government support, while confirming that the Africa Energy Bank is expected to begin operations by April.

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