Nigeria has officially handed over the completed headquarters of the African Energy Bank (AEB) to its founding partners, marking a key milestone in efforts to scale sustainable energy financing across the continent. The handover took place on Tuesday during the Nigeria International Energy Summit (NIES 2026) in Abuja.
The AEB, a pan-African financial institution jointly established by the African Petroleum Producers’ Organisation (APPO) and the African Export-Import Bank (Afreximbank), aims to mobilise domestic and regional capital for energy infrastructure and reduce Africa’s reliance on external financing.
At the ceremony, APPO President and Côte d’Ivoire’s Minister of Mines, Petroleum and Energy, Mamadou Colibaly, thanked Nigeria for delivering the headquarters and reaffirmed the Bank’s launch timeline. “We are committed to launching this Bank no later than June,” he said, adding that the AEB represents “Africa’s commitment to finance, develop, and secure its own energy future, by Africans, for Africans.”
Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said the federal government had fulfilled all obligations as host country and that the headquarters was “fully equipped, strategically located, and ready for immediate take-off.”
The Bank, with an initial capital base of US $5 billion, will provide tailored financial instruments across the energy value chain. These include support for exploration, refining, renewable energy integration, and local content development, areas seen as critical for ensuring that Africa’s energy resources translate into jobs and sustainable economic gains.
Speakers at the event framed the handover as a broader step toward energy sovereignty and economic independence for African nations, emphasising that the institution’s financial mandate includes reinforcing energy value chains and supporting long-term industrialisation goals.
The AEB is expected to begin operations by the second quarter of 2026, with some reports indicating June as the target month.
