Nigeria has announced that the African Energy Bank (AEB) is now fully prepared for operational takeoff, following an official inspection of its headquarters by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri.

The inspection was conducted in the company of the Secretary General of the African Petroleum Producers’ Organization (APPO), Dr. Omar Farouk Ibrahim, and Afreximbank’s Executive Vice President, Mr. Haytham El Maayergi.

Lokpobiri said the readiness of the bank marks a significant milestone for Nigeria and Africa’s evolving energy financing landscape.

“This inspection highlights the high level of preparedness and the collective commitment to ensuring a smooth operational takeoff,” he stated.

He also commended President Bola Ahmed Tinubu for the political backing that ensured Nigeria successfully secured hosting rights for the continental energy bank.

“I sincerely commend President Bola Ahmed Tinubu for his wisdom, vision, and support toward the actualization of this project, which aligns perfectly with the transformative objectives of the Renewed Hope Agenda,” he said.

According to the minister, the African Energy Bank will play a pivotal role in providing sustainable financing for oil, gas, and renewable energy projects across the continent.

“With the progress recorded, I am confident that the African Energy Bank will soon begin delivering substantial value to Nigeria and the entire African continent,” he assured.

The AEB—promoted jointly by APPO and Afreximbank—is positioned to become Africa’s premier energy development finance institution, offering long-term funding for upstream, midstream, downstream, and clean energy ventures.

Dr. Omar Farouk Ibrahim described the inspection as a crucial final step before full commencement of operations.

Mr. Haytham El Maayergi of Afreximbank reaffirmed the institution’s strong commitment to ensuring a seamless launch and long-term sustainability of the bank.

Senator Lokpobiri also shared photo updates of the visit on X (formerly Twitter), emphasizing the milestone as a major boost for Nigeria’s leadership role in Africa’s energy sector.