Afrexim Bank, Appo’s Technical Team Completes Inspection of Nigeria’s Bid to Host AEB – THISDAYLIVE


As part of the validation process for Nigeria’s bid to host the headquarters of the African Energy Bank (AEB), a technical inspection team from the African Petroleum Producers Organization (APPO) in Brazzaville and Afreximbank in Cairo—joint promoters of the AEB—has completed its inspection mission. This mission was conducted to assess and confirm Nigeria’s readiness to host the AEB headquarters, which is scheduled to be established in July 2024.

According to a statement by the Permanent Secretary, Ministry of Petroleum Resources, Ambassador Nicholas Ellah, the Bank is coming at a prime time when major policy banks and other western financial institutions are winding down or freezing oil and gas financing and investment, which decreased from $63 billion in 2014, to less than $24 billion in 2022, a consequence of the COVID 19-Pandemic and their several net Zero carbon initiatives as well as the quest for energy security.

“International oil firms are…

Source: Thisday Newspaper