Nigeria beats Ghana, S’Africa, others to hosting $5b energy bank

Nigeria has won the bid to host the $5 billion Africa Energy Bank , which aims to address funding crisis for energy infrastructure on the continent.

AEB, an initiative of APPO and Afrexim Bank, is expected to start with about $5 billion. Lokpobiri said the bank was necessary, given the financial crisis facing the push to address energy gap in Africa. He tagged the move a collective ambition to create African solutions to African energy challenges. stressing: “The African Energy Bank will be instrumental in providing the necessary financial backbone for energy projects that will drive growth across the continent.

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