Africa Energy Bank set for launch as NCDMB reaffirms support for APPO
The pledge follows Nigeria’s role in setting up the Africa Energy Bank and renewed calls for transparency, governance and regional collaboration.
As Africa looks inward for sustainable financing to drive its oil and gas ambitions, the Nigerian Content Development and Monitoring Board has reaffirmed its commitment to strengthening continental energy institutions, pledging enduring support for the African Petroleum Producers Organisation and the Africa Energy Bank.
The pledge was made by the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, when the Secretary General of APPO, H.E. Farid Ghezali, paid him a courtesy visit at the Board’s Abuja liaison office, accompanied by senior APPO officials, Mr Bakary Traore and Mr Tchananti Sahguir. The engagement followed Nigeria’s recent handover of the fully set-up office of the Africa Energy Bank, clearing the path for the bank’s formal launch by APPO and Afreximbank, the owners of the institution.
During the meeting, Engr. Ogbe reaffirmed NCDMB’s strong support for APPO and the Africa Energy Bank, noting that the future of Africa’s oil and gas industry would depend largely on the performance and stability of both institutions. He assured the APPO delegation of the Board’s readiness to support the successful launch of the bank, stating that, “The NCDMB stands ready to provide operational support for the bank’s launch, in full alignment with the directives of President Bola Ahmed Tinubu and the Honourable Minister of State for Petroleum Resources Oil, Senator Heineken Lokpobiri.”
The APPO Secretary General, who assumed office in January 2026, sought the continued support of NCDMB to actualise the organisation’s operations, recalling the long-standing relationship between both institutions. While outlining plans to improve transparency in APPO’s activities, he stressed the need for timely financial contributions from member countries, the recruitment of new members and an expected increase in subscriptions. He also disclosed that Mauritania is anticipated to join APPO, a development expected to further strengthen the organisation’s continental presence.
H.E. Ghezali emphasised the importance of transparency in the selection of the Governing Board of the Africa Energy Bank, as well as the need for clear structure and governance processes that keep all APPO member countries equally informed of developments within the bank. He underscored the necessity of rigorous Know Your Customer and credibility requirements to build a trusted and inclusive financial institution.
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The discussions also explored capacity building and collaboration across the African energy value chain. H.E. Ghezali proposed the development of an interactive platform to showcase African certified companies in key specialities, while also recommending the use of NCDMB’s Nigerian Content Academy for training and skills development across member states. Both parties agreed on the need for equitable distribution of project benefits, harmonisation of codes and regulations, technical assistance, knowledge sharing, honest collaboration and the promotion of regional markets, particularly in West Africa, under the African Continental Free Trade Area framework.
At the close of the meeting, key decisions were reached, including the launch of the interactive local content platform in the first half of 2026, the prioritisation of financial discipline, the circulation of relevant roadmaps to stakeholders, follow-up on outstanding contributions and the provision of operational support for the Africa Energy Bank launch. Engr. Ogbe requested that APPO circulate a detailed roadmap, implementation timeline and an update on its financial position, while a follow-up meeting was scheduled to track progress.
The engagement concluded on a positive note, with all parties reaffirming their commitment to transparency, genuine collaboration and shared responsibility. The meeting underscored NCDMB’s pivotal role in advancing Africa’s energy agenda through strategic partnerships such as the Africa Energy Bank, which aims to mobilise significant financing for oil, gas and energy projects, address long-standing funding gaps and promote sustainable development across the continent.
