FG announces readiness of Africa Energy Bank Headquarters in Nigeria

The Federal Government has revealed that the head office of the $5 billion Africa Energy Bank (AEB), to be hosted in Nigeria, is now fully completed and ready for use.

Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), made the disclosure on Thursday in Abuja after inspecting the newly furnished facility, affirming that Nigeria has fulfilled all commitments required as the host country.

Speaking to journalists, Lokpobiri said the government had delivered a world-class office complex to support the smooth launch of the bank.

“I came to inspect the headquarters furnishing of the Africa Energy Bank and I’m happy to disclose to Nigerians, Africans, and the world that Nigeria has delivered on all obligations as the host country,” he said. “The headquarters is ready, tastefully furnished, in the best location, so we are ready for the bank to take off.”

He noted that the next steps now lie with the Africa Petroleum Producers’ Organisation (APPO) and the African Export-Import Bank (Afreximbank), the promoters of the multilateral institution, to finalize procedures for commencement.

“We are waiting for APPO and Afreximbank, who are driving this process, to facilitate the take-off of the bank. But Nigerians and the world should know that as host country, we have met all our obligations. The building is ready; the bank is ready to go,” he added.

On whether the facility has been officially handed over to the promoters, Lokpobiri said modalities are being finalized and confirmed that Nigeria plans to invite APPO ministers to inspect the headquarters.

“We will invite APPO ministers to Nigeria to show them what we promised and have fulfilled. The building is ready, and once they are here, we will hand it over,” he said.

The minister emphasised that the readiness of the headquarters signals that the Africa Energy Bank is now poised for operational launch.