Nigeria has officially handed over the headquarters of the African Energy Bank (AEB), a flagship institution established to mobilise capital for the continent’s energy priorities and strengthen energy value chains.

Tribune Online reports that the handover took place on the sidelines of the ongoing Nigeria International Energy Summit (NIES 2026) in Abuja. Tribune Online also reports that the handover occurred ahead of the Bank’s operational launch scheduled for June 2026.

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 by 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, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said 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 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. They noted that the handover signalled the beginning of a new era in which Africans are determined to finance, produce and sustain their own energy future.

The ceremony underscored a unified African resolve to take greater ownership of the continent’s abundant natural resources. By offering targeted financial instruments, the Bank will support projects across the energy value chain, including exploration, refining, renewable energy integration and local content development, ensuring that Africa’s resources translate into tangible economic value and job creation.

The African Energy Bank is a pan-African financial institution jointly established by APPO member states and Afreximbank to provide tailored financing solutions for energy projects across Africa, and to finance and strengthen regional energy markets.

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