Regina Otokpa 
The President of the African Export-Import Bank (Afreximbank), Prof. Benedict Oramah, has said that the establishment of Africa Energy Bank (AEB) would be a game-changer for the continent.
Oramah who commended Nigeria for hosting the headquarters of the bank with an initial capital base of $5 billion targeted to grow to $120 billion in five years, said it marks a significant milestone in Africa’s quest for energy security and sustainability.
Prof. Oramah spoke while being received in Nigeria by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri during a visit to Nigeria to deepen ongoing engagements towards the commencement of operations by the Africa Energy Bank (AEB).
The Africa Energy Bank, a collaborative effort between Afreximbank and the African Petroleum Producers Organization (APPO), is poised to launch with an asset base of $5 billion and is projected to grow to USD 120 billion in five years, marking a significant milestone in Africa’s quest for energy security and sustainability.
Afreximbank, as a key partner, is transferring her full equity investment in the oil and gas sector, underscoring its commitment to driving energy infrastructure development across the continent.
He said: “The establishment of the Africa Energy Bank is a game-changer for the continent.”
The Afreximbank President commended Nigeria for taking the bull by the horns in hosting the headquarters of Africa Energy Bank and expressed confidence in Nigeria’s oil and gas portfolio as the bank will not only benefit the energy sector in Africa but will guarantee immediate benefit for Nigeria.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri reaffirmed Nigeria’s readiness to collaborate towards its success
“This bank represents a bold step in ensuring that Africa controls and finances its energy future. It is an avenue for stakeholders to invest in a self-sustaining energy sector that will drive industrialization, job creation, and economic prosperity,”
As Africa prepares for the operational launch of the AEB, the Nigerian Government calls on industry stakeholders to engage proactively and explore the vast opportunities this initiative presents.
During the meeting, Senator Lokpobiri reiterated Nigeria’s strong support for the AEB and its pivotal role in unlocking Africa’s energy potential.
“Nigeria, as a leading oil and gas producer, is well-positioned to leverage this transformative initiative. We encourage industry players to seize this opportunity to invest in Africa’s energy future,” the Minister stated.
Following the discussions, Senator Lokpobiri and Dr. Oramah proceeded to the AEB Headquarters for an inspection tour to assess the level of readiness ahead of the commencement of operations.
The visit provided first-hand insights into the bank’s operational preparedness and strategic alignment with Africa’s broader energy development goals.
The successful takeoff of the AEB would mark a new era in Africa’s energy development, positioning the continent a s a global force in the sector
