The Nigerian Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said this while speaking to journalists after a virtual council of ministers of the African Petroleum Producers Organization (APPO) meeting on Thursday.
The government stated that Nigeria was chosen out of stiff competition from other countries such as Ghana, Benin, Algeria, South Africa, and Cote d’Ivoire. It said the selection reflects Nigeria’s sound energy industry and its development plans for the energy sector of the continent. The government has said that the bank is supposed to ensure provision of funding for energy projects, which in turn will spur development of the economy and improve energy security.
Mr Lokpobiri stressed that this course of action is in line with the goals and objectives of the African Union Agenda 2063 aimed at the creation of a prosperous African continent capable of standing on its own.
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“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,” Mr Lokpobiri said. Speaking to Nigerians and Africans in general, he affirmed that the establishment of the AEB would be a new epoch making in meeting energy needs.
“We are committed to ensuring that this bank will not only move Nigeria forward but will also be a beacon of progress for the entire continent. Our goal is to foster sustainable energy solutions that are both innovative and inclusive,” he added.
He also stressed the solidarity of the APPO members and the common goal of the union to constitute a united Africa backed by energy.
Mr Lokpobiri thanked Mr Tinubu for his support and the council of ministers for their confidence in Nigeria leading this process.
“Thank you to everyone who made this possible. Together, we are shaping the future of energy in Africa, starting right here in Nigeria,” he said.
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