Africa: $5bn Africa Energy Bank Gains Momentum With Contributions From Nigeria, Angola, Ghana

Africa: $5bn Africa Energy Bank Gains Momentum With Contributions From Nigeria, Angola, Ghana

·Lokpobiri to IOCs: Nigeria has created right conditions, it's time to invest

Africa Energy Bank gains momentum as Nigeria, Angola, Ghana fulfil capital commitments - Thepodiummedia

In a significant development for Africa’s energy sector, Nigeria, Angola and Ghana have fulfilled their capital commitments toward establishing the Africa Energy Bank (AEB). The AEB aims to finance oil and gas projects across the continent, addressing funding challenges posed by traditional Western financial institutions’ reluctance to support fossil fuel initiatives due to environmental concerns. African Petroleum Producers Organisation (APPO) …

Africa Energy Bank secures key share capital financing

The trio’s capital boost represent 44% of the minimum funds required from oil producing countries in Africa. Africa Energy Bank seeks to fund oil and gas projects across economies in Africa, plugging gaps that exists through the continent’s overreliance on financiers from the West. Quite often, financiers from the west are reluctance to pump billions in fossil fuel projects in Africa citing environmental concerns. The push to better finance capi…

Africa Energy Bank gains momentum with capital contributions from Nigeria, Angola and Ghana

Sierra Leone Telegraph: 02 April 2025: In a significant development for Africa’s energy sector, Nigeria, Angola and Ghana have fulfilled their capital commitments toward establishing the Africa Energy Bank (AEB). This milestone represents 44% of the minimum required funding from African Petroleum Producers Organization (APPO) members to initiate the bank’s operations. Dr. Omar Farouk Ibrahim, Secretary General of APPO, announced this progress du…

Nigeria to Enforce “Drill or Drop” Policy to Boost Oil Production – Lokpobiri

The Federal Government has announced plans to enforce the “drill or drop” provisions of the Petroleum Industry Act (PIA), which empowers the government to take over idle assets abandoned by oil firms for an extended period. The Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, disclosed this at the Cross Industry Group (CIG) Meeting in Florence, Italy on Tuesday. According to Lokpobiri, the decision is part of efforts to boost …

Africa Energy Bank gains momentum

Nigeria, Angola and Ghana have fulfilled their capital commitments toward establishing the Africa Energy Bank (AEB), representing 44% of the minimum required funding from African Petroleum Producers Organisation (APPO) members to initiate the bank’s operations. This is according to Dr Omar Farouk Ibrahim, secretary-general of APPO, speaking at the Congo Energy & Investment Forum held last week. The AEB aims to finance oil and gas projects across…