Nigeria Secures Bid To Host $5bn African Energy Bank

Nigeria has secured the bid to host the headquarters of the newly established $5 billion African Energy Bank (AEB) in Abuja, the nation’s capital.

Gatekeepers News reports that Nigeria emerged as the top choice to host the African Energy Bank (AEB), beating out stiff competition from Ghana, Benin, Algeria, South Africa, and Cote d’Ivoire.

The establishment of the AEB in Nigeria marks a significant milestone in revolutionising energy production and meeting the energy needs of Nigerians and Africans alike, signaling a transformative era for the continent’s energy landscape, according to a statement by the State Minister for Petroleum Resources (oil), Heineken Lokpobiri, on Thursday via his official X account.

“I am delighted to share that Nigeria has been selected to host the headquarters of the African Energy Bank! This prestigious honour is a testament to our country’s leadership and commitment to the energy sector.

“As the Minister for Petroleum Resources[Oil], I am incredibly proud of this achievement. The African Energy Bank will be a cornerstone for financing and advancing energy projects across Africa, promoting innovation, sustainability, and economic growth.

“This is a remarkable victory for Nigeria and the entire African continent.

“It symbolizes our collective efforts to harness and develop our rich energy resources for a brighter, more sustainable future,” Lokpobiri said.