On the 4th of July 2024, it was announced that the African Petroleum Producers Organisation (“APPO”) had selected Abuja Nigeria to host the headquarters of the newly established Africa Energy Bank (“AEB”). With its initial $5Billion capital the AEB jointly established by the APPO and the African Export Import Bank aims to bridge the prevalent funding gap in the African Oil and Gas industry as well as support energy transition in Africa.
This development is expected to stimulate Oil and Gas production and provides additional jobs in the African Oil and Gas Industry
For further details on this news item please follow the link below:
https://www.reuters.com/world/africa/nigeria-beats-rivals-bid-host-new-africa-energy-bank-2024-07-04