Africa Energy Bank Nears Launch As Nigeria Transfers Headquarters To APPO

Nigeria has taken a major step toward the launch of the Africa Energy Bank after formally handing over its fully furnished headquarters in Abuja to the African Petroleum Producers’ Organisation (APPO), bringing the long-awaited project closer to reality.

The transfer of the building, which Nigeria procured, paid for and equipped, clears one of the last obstacles that had delayed the bank’s take-off and sets the stage for operations to begin in the coming months.

Speaking at the handover ceremony, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said the headquarters issue had been the final outstanding requirement, explaining that earlier proposed locations were rejected before the current site was approved.

With the building now officially transferred, he said the bank could begin operations as early as April, with a full launch expected before mid-year.

The Africa Energy Bank is being set up to provide financing for oil and gas projects across the continent at a time when many African countries are struggling to secure funding for energy development.

Backed by APPO and supported by Afreximbank, the institution is expected to serve not only APPO’s 18 member countries but Africa as a whole, helping to boost energy security, support industrial growth and drive economic development.

APPO officials described the handover as a crucial milestone, noting that the focus can now shift from preparation to delivering practical financing solutions for Africa’s energy sector.