Nigeria wins bid to host $5bn Africa Energy Bank

The federal government says Nigeria has won its bid to host the headquarters of the $5 billion Africa Energy Bank .

In a statement on Thursday, Heineken Lokpobiri, minister of state for petroleum resources , describedThe decision, reached at an extraordinary meeting of the Council of Ministers of the African Petroleum Producers Organization , places Nigeria at the forefront of Africa’s energy future, Lokpobiri said.

“As the Minister for Petroleum Resources, I am incredibly proud of this achievement. The African Energy Bank will be a cornerstone for financing and advancing energy projects across Africa, promoting innovation, sustainability, and economic growth,” the statement reads.“This is a remarkable victory for Nigeria and the entire African continent. It symbolizes our collective efforts to harness and develop our rich energy resources for a brighter, more sustainable future.

“Thank you to everyone who made this possible. Together, we are shaping the future of energy in Africa, starting right here in Nigeria!”despite competing against Algeria, Benin, Ghana, Ivory Coast, and South Africa.

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