Nigeria has officially handed over the African Energy Bank (AEB) headquarters, a flagship institution to mobilise capital for the continent’s energy priorities and reinforce energy value chains.
The handover took place on the sidelines of the ongoing Nigeria International Energy Summit (NIES 2026) in Abuja.
The handover is scheduled to take place ahead of the June 2026 operational launch of the AEB.
During the event, the President of the African Petroleum Producers’ Organisation (APPO) and Côte d’Ivoire’s Minister of Mines, Petroleum and Energy, Mamadou Colibaly, commended Nigeria’s leadership in advancing the initiative.
“We are committed to inaugurating this Bank no later than June. I sincerely thank our partners for providing the headquarters and office that make this take-off possible.
“The African Energy Bank represents Africa’s commitment to finance, develop, and secure its own energy future for Africans, for Africans,” Colibaly said.
The African Energy Bank is a joint initiative of APPO member states and the African Export-Import Bank (Afreximbank), established with an initial capital of five billion dollars.
Its core mandate is to mobilise domestic and regional capital for energy infrastructure, reduce Africa’s reliance on external financing, and align energy investments with the continent’s long-term development and industrialisation goals.
While performing the handover, Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), said that Nigeria had met every obligation as host.
“The headquarters is ready, strategically located, and fully equipped, and we are prepared for immediate take-off,” Lokpobiri said.
Speakers at the event also emphasised that the African Energy Bank is not merely a financial institution, but a cornerstone of Africa’s broader quest for economic independence and lasting energy security.
