The Federal Government says it has completed legal and governance frameworks for the launch of the African Energy Bank.
Minister of State for Petroleum Resources, Heineken Lokpobiri, disclosed this during a review meeting with Afreximbank and APPO officials.
Lokpobiri confirmed that $19 billion has been raised for the bank, which will finance traditional and renewable energy projects across Africa.
Nigeria’s hosting of the bank reaffirms its leadership in the continent’s hydrocarbon sector.
Afreximbank pledged full support for the launch, while stakeholders agreed to ensure transparency and fix a timeline for the inaugural board meeting, to be announced soon.
