Nigeria is facing mounting opposition from neighbors and other countries to its bid for the headquarters of the Africa Energy Bank, a proposed initiative to support investments in the continent's hydrocarbon system. The final decision on the location of the new institution is due to be made by the end of this month and some fierce lobbying has been going on in the run-up to that decision, Nigerian media report.
That attitude has pitted Africa against the developed world, as the latter tries to convince the former to not develop its significant and as of yet largely untapped oil and gas resources because of the transition. African leaders, on the other hand, overwhelmingly want to develop those local resources, citing the fact that the developed world became developed thanks to oil and gas and thanks to the wealth those enabled can now afford to transition while Africa cannot.
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