By Felix Khanoba
The Nigerian government has launched a diplomatic campaign to host the Africa Energy Bank’s headquarters, engaging with envoys from oil-producing countries.
At a dinner in Abuja for African Petroleum Producers Organization (APPO) member states, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, emphasized Nigeria’s commitment to surpass the Bank’s $5 billion initial capital target if it is headquartered in Nigeria.
Lokpobiri highlighted Nigeria’s historical concession of APPO’s headquarters to Congo Brazzaville, arguing for reciprocal support in Nigeria’s bid for the Africa Energy Bank.
“We conceded the headquarters to Congo. Now, we appeal to APPO members to support Nigeria in hosting the Africa Energy Bank’s headquarters,” he stated.
He reiterated the importance of every APPO member’s vote, regardless of oil production levels, and underscored President Bola Ahmed Tinubu’s dedication to this cause.
Lokpobiri also noted that key Nigerian oil companies have pledged to significantly bolster the Bank’s capital if it is based in Nigeria. “Our indigenous companies are ready to invest, ensuring we exceed the $5 billion target,” he said.
Earlier the Permanent Secretary, Ministry of Petroleum Resources, Amb Nicholas Agbo Ella, said Nigeria’s bid to host the Africa Energy Bank Headquarters, is not only grounded on deep-seated conviction that Abuja stands as the quintessential epi-center of energy innovation and cooperation on the continent but also hinged on its strategic location and several prowess.
His words : “Nigeria’s strategic location at the crossroads of West Africa renders Abuja an unrivaled nexus of connectivity and accessibility.
With its extensive network of transportation infrastructure and logistical capabilities, Abuja offers a strategic gateway to the entire African continent, providing the Africa Energy Bank with unparalleled access to key energy markets, stakeholders, and decision-makers across Africa.
By selecting Abuja as its host city, the Africa Energy Bank can serve as a linchpin of connectivity, fostering collaboration and catalyzing progress on a continental scale.
Nigeria’s rich endowment of oil, gas, and renewable energy resources presents an unparalleled opportunity for the Africa Energy Bank to harness the continent’s vast energy potential and drive sustainable development.
With proven reserves of over 37 billion barrels of oil and 5 trillion cubic meters of natural gas, Nigeria ranks among the top energy producers in Africa.
Furthermore, Nigeria’s burgeoning renewable energy sector, characterized by abundant solar and wind resources, holds immense promise for powering Africa’s future.
By situating the Africa Energy Bank in Abuja, Nigeria seeks to leverage its energy wealth to catalyze innovation, investment, and economic diversification across the continent, ensuring energy security and resilience for generations to come.”
While saying Nigeria’s vision for a sustainable energy future is anchored in principles of environmental stewardship, social equity, and economic inclusivity, Amb Ella urged delegate to consider the profound implications of the country’s bid to host the bank headquarters and lend support to the quest.
Also speaking at the event, the Permanent Secretary of the Ministry of Foreign Affairs, Amb Adamu Lamuwa, represented by Ben Okoye, reinforced Nigeria’s commitment to advancing Africa’s energy agenda.
Lamuwa emphasized Amb Ella’s expertise and leadership in the energy sector, urging delegates to support Nigeria’s bid to host the Africa Energy Bank headquarters in Abuja.
The permanent secretary said the event served as a testament to Nigeria’s dedication to fostering cooperation and progress within Africa’s energy sector.
The event attracted envoys from Cameroon, Equatorial Guinea, Egypt, Republic of Congo, Guinea, Senegal, Venezuela, among others.
The AUTHORITY reports that AEB which will soon take off, is to ensure long-term energy efficiency and security for Africa.
