FG Completes $5B Africa Energy Bank Headquarters in Abuja, Set for Full Operations

Nigeria has completed and fully furnished the headquarters of the $5 billion Africa Energy Bank (AEB) in Abuja, with the facility now ready for operations. Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, confirmed that the country has met all host-nation obligations, paving the way for the bank’s launch. Established to bridge Africa’s energy-financing gap amid global restrictions on fossil-fuel funding, the bank will begin with over $5 billion in capital and aims to expand its portfolio to $120 billion. The AEB is expected to support exploration, gas infrastructure, refinery upgrades, and cleaner technologies, positioning Nigeria as a central hub for energy development on the continent.