African Energy Bank in Nigeria aims to promote energy goals – IPPG – EnviroNews

African Energy Bank in Nigeria aims to promote energy goals – IPPG – EnviroNews

According to the Independent Petroleum Producers Group (IPPG), Nigeria’s selection as host of the African Energy Bank (AEB) headquarters underscores Nigeria’s leadership and strong commitment to achieving Africa’s energy goals.

Abdulrazaq IsaAbdulrazaq Isa
Mr Abdulrazaq Isa, Chairman of the Independent Petroleum Producers Group (IPPG)

The IPPG also congratulated the Federal Government on the important occasion of Nigeria being chosen to host the headquarters of the African Energy Bank.

IPPG Chairman Abdulrazaq Isa made the announcement on Saturday, July 6, 2024, and congratulated Nigeria on the achievement.

He said: “This significant honour underscores Nigeria’s leadership and strong commitment to advancing Africa’s energy goals.

“This milestone also underscores the leading role Nigeria has played over the years in promoting regional integration and progress.

“This decision to locate AEB headquarters in Nigeria is not only a further recognition of Nigeria’s position as the continent’s largest hydrocarbon resource holder and as a human capital base in the energy sector.”

According to him, the country’s choice is also a testament to the robustness and highly advanced nature of the country’s financial services sector.

“The AEB will provide a solid foundation for the financing and development of energy projects across the continent, enabling the development of critical infrastructure and innovative technologies in the energy sector,” Isa said.

He said the initiative would not only promote sustainability but also boost economic growth and industrialization.

Isa said the initiative would create massive employment opportunities and ultimately contribute to a prosperous and sustainable future for the entire continent.

He said IPPG’s strong case for the bank’s headquarters to be located in Nigeria was based on the immeasurable benefits it would bring to the development of the sector, especially at a time when the country is grappling with an energy crisis.

He commended President Bola Tinubu for his visionary leadership and dedication to the development of Nigeria’s energy sector.

“His administration’s proactive and strategic efforts have played a critical role in securing this remarkable achievement.

“Special recognition also goes to Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), who has passionately and vigorously worked to achieve this important milestone.

“His tireless efforts to ensure that Nigeria hosted the AEB headquarters were simply extraordinary.

“This achievement enables the continent to look inward and deepen cooperation in charting a course to meet energy needs.

“IPPG is extremely pleased with this news and looks forward to working with the AEB to ensure affordable energy, improve energy security and reduce the continent’s carbon footprint,” Isa added.

By Emmanuella Anokam