Connect with us

News

Nigeria Wins Bid to Host $5bn African Energy Bank

Published

on

Nigeria has emerged as the preferred host nation for the African Energy Bank (AEB), outpacing stiff competition from Ghana, Benin, Algeria, South Africa, and Côte d’Ivoire.

This development was announced by the Minister of State for Petroleum Resources, Heineken Lokpobiri, following a virtual meeting of the council of ministers of the African Petroleum Producers Organisation.

The $5 billion project is poised to play a vital role in financing and advancing energy projects across Africa, promoting innovation, sustainability, and economic growth.

This milestone is hailed as a remarkable victory for Nigeria and the entire African continent, solidifying the country’s position as a key player in the energy sector.

The AEB is expected to provide a robust platform for energy financing, bridging the gap in funding for energy projects and fostering economic development.

This initiative aligns with Africa’s aspirations to transition towards cleaner, more sustainable energy options, creating jobs, stimulating innovation, and improving the overall quality of life for millions of Africans.

Nigeria’s successful bid to host the AEB is a testament to the country’s commitment to driving energy growth and sustainability on the continent.

The bank’s presence is expected to attract investments, promote economic cooperation, and enhance energy security, further solidifying Nigeria’s position as a leader in Africa’s energy sector.


For Diaspora Digital Media Updates click on Whatsapp, or Telegram. For eyewitness accounts/ reports/ articles, write to: citizenreports@diasporadigitalmedia.com. Follow us on X (Fomerly Twitter) or Facebook

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Updates

Judges Top List Of Bribe Recipients In Nigeria

Manchester United Secures £35m Deal for Dutch-Nigerian Striker Joshua Zirkzee

Fire Guts Popular Petrol Station In Abuja, Nigerian Capital

Coaches, clubs participating in unregistered football championships to face sanctions, says Nigerian football chief

Western Envoys Condemn South Sudan’s “Repressive” Security Bill

Burkina Faso Military Junta Prescribes Death, Life Imprisonment For Homosexuals

Senegal: President Faye’s reforms in his first 100 days in office

Ugandan TikToker Sentenced to Six Years in Prison for Insulting Pres. Museveni

Tragedy averted after woman & child swept away by wind in China

Ruto dissolves his cabinet as Kenya reels under youth angst

Subscribe to DDM Newsletter for Latest News