Nigeria has formally handed over the headquarters of the African Energy Bank (AEB), a landmark institution designed to mobilise capital for Africa’s energy infrastructure and strengthen the continent’s energy value chains.
The handover took place on the sidelines of the ongoing Nigeria International Energy Summit (NIES 2026) in Abuja, ahead of the bank’s planned operational launch in June 2026.
At the event, Mamadou Colibaly, President of the African Petroleum Producers’ Organisation (APPO) and Côte d’Ivoire’s Minister of Mines, Petroleum and Energy, praised Nigeria for its 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 offices that make this launch possible. The African Energy Bank represents Africa’s dedication to developing and securing its energy future by Africans, for Africans,” Colibaly said.
The AEB is a collaborative initiative of APPO member states and the African Export-Import Bank (Afreximbank), established with an initial capital of five billion dollars. Its primary mandate is to mobilise domestic and regional capital for energy projects, reduce reliance on external financing, and ensure that energy investments support Africa’s long-term development and industrialisation objectives.
During the handover, Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), stated that Nigeria had fulfilled all its obligations as host. “The headquarters is fully equipped, strategically located, and ready for immediate operations,” he said.
Speakers highlighted that the African Energy Bank is more than a financial institution; it is central to Africa’s pursuit of economic independence and sustainable energy security. They stressed that the handover marks a new chapter in which African nations are determined to finance, produce, and manage their own energy future.
The ceremony also underscored a shared African commitment to take full ownership of the continent’s natural resources. Through targeted financing instruments, the bank will support initiatives across the energy value chain, including exploration, refining, renewable energy integration, and local content development, ensuring that Africa’s resources generate tangible economic benefits and create jobs.
As a pan-African financial institution, the African Energy Bank is structured to provide customised financing solutions for energy projects across the continent, aiming to strengthen regional energy markets and promote self-reliance in Africa’s energy sector.