• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 30, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Africa Energy Bank: Nigeria, Angola, Ghana’s Capital Guarantees Take Off

by Chika Izuora
3 months ago
in News
Africa Energy Bank
Share on WhatsAppShare on FacebookShare on XTelegram

Nigeria has demonstrated exceptional commitment towards supporting the operational takeoff of the Africa Energy Bank (AEB) by providing and fulfilling her capital commitment.

Advertisement

Similarly, Angola and Ghana have also fulfilled their capital commitments toward establishing the Bank, a milestone that represents 44 per cent of the minimum required funding from African Petroleum Producers Organization (APPO) members to initiate the bank’s operations.

Secretary general of APPO, Dr. Omar Farouk Ibrahim, announced this progress during the Congo Energy & Investment Forum last week.

The AEB aims to finance oil and gas projects across the continent, addressing funding challenges posed by traditional Western financial institutions’ reluctance to support fossil fuel initiatives due to environmental concerns. APPO has requested each of its 18 member states to contribute $83 million, targeting a total initial capitalization of $5 billion.

Beyond Nigeria, Angola and Ghana, five additional member states – Algeria, Benin, the Republic of Congo, Equatorial Guinea and Ivory Coast have pledged to make their payments, aligning with the bank’s goal to commence operations in the first half of 2025.

RELATED

AGN Inaugurates National Secretariat, Unveils Plan For Creative Hub In FCT

AGN Inaugurates National Secretariat, Unveils Plan For Creative Hub In FCT

10 minutes ago
Brand Launches AfroExchange, Holds Send-off For Bnxn, Others

Brand Launches AfroExchange, Holds Send-off For Bnxn, Others

20 minutes ago

Nigeria remains sub-Saharan Africa’s largest oil producer, offering significant opportunities in the oil and gas sector, including a 2025 bid round.

The implementation of the Petroleum Industry Act has introduced regulatory reforms to enhance transparency and attract investment, driving major projects forward.

Recent final investment decisions (FIDs) include TotalEnergies’ $550 million Ubeta Gas Field Development and Shell’s $5 billion Bonga North Project, yet additional financing is crucial to advancing Nigeria’s gas agenda and unlocking its full potential in the energy transition.

Angola, meanwhile, is actively diversifying its energy portfolio while advancing major deepwater developments, including TotalEnergies’ $6 billion Kaminho Deepwater Project, Eni’s Agogo Integrated West Hub and a limited public tender, with a long-term goal of increasing production to 2 million bpd.

The country plans to make an FID on its first green hydrogen project by 2025 – a 600 MW development led by Sonangol in collaboration with international partners.

Additionally, Angola is spearheading its first non-associated gas project, the New Gas Consortium, and undertaking a $12 billion expansion of the Angola LNG plant to enhance its gas monetisation efforts.

Ghana is strengthening its position as a leading oil and gas player with new commitments from Eni and Tullow Oil. In March, Eni and the Ghana National Petroleum Corporation signed an agreement to enhance offshore exploration, optimize existing assets and advance untapped reserves.  This follows recent regulatory reforms aimed at improving fiscal terms, transparency and investment incentives.

Tullow Oil also remains integral to Ghana’s energy sector, with production from the Jubilee and TEN fields supporting economic growth and plans to launch a drilling program in May 2025 to bring new production online.

Amid these developments, the establishment of the AEB is a strategic response to Africa’s need for dedicated financial institutions that understand the continent’s unique energy landscape.

By providing tailored financing solutions, the Bank is poised to accelerate energy project development, enhance energy security and drive economic growth.

As more countries contribute their capital shares, the Bank is expected to play a pivotal role in unlocking investment, bridging financing gaps and ensuring sustainable energy expansion across Africa.

 

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Africa Energy Bank
SendShareTweetShare
Previous Post

Heirs Energies To Deliver 100,000 Barrels Of Oil Production Daily

Next Post

Leadway Pensure Advocates Additional VC For Future Security

Chika Izuora

Chika Izuora

You May Like

AGN Inaugurates National Secretariat, Unveils Plan For Creative Hub In FCT
News

AGN Inaugurates National Secretariat, Unveils Plan For Creative Hub In FCT

2025/06/30
Brand Launches AfroExchange, Holds Send-off For Bnxn, Others
News

Brand Launches AfroExchange, Holds Send-off For Bnxn, Others

2025/06/30
Nigerian Caregiver Sentenced For Abusing 88-yr-old Patient In UK
News

Nigerian Caregiver Sentenced For Abusing 88-yr-old Patient In UK

2025/06/30
Panic As Bees Attack Worshippers At Central Mosque In Edo
News

Panic As Bees Attack Worshippers At Central Mosque In Edo

2025/06/30
JUST-IN: Youths Burn NDLEA Office, Storm Emir’s Palace In Kwara Over Insecurity
News

JUST-IN: Youths Burn NDLEA Office, Storm Emir’s Palace In Kwara Over Insecurity

2025/06/30
Federal Gov’t Delegation Arrives In Saudi Arabia For Dantata’s Burial
News

Federal Gov’t Delegation Arrives In Saudi Arabia For Dantata’s Burial

2025/06/30
Leadership Conference advertisement

LATEST

AGN Inaugurates National Secretariat, Unveils Plan For Creative Hub In FCT

Brand Launches AfroExchange, Holds Send-off For Bnxn, Others

Hong Kong To Raise Passport, Visa, Permit Fees

Nigerian Caregiver Sentenced For Abusing 88-yr-old Patient In UK

Panic As Bees Attack Worshippers At Central Mosque In Edo

JUST-IN: Youths Burn NDLEA Office, Storm Emir’s Palace In Kwara Over Insecurity

JUST-IN: Dalori Resumes As APC Acting Chairman, Presides Over NWC Meeting

Federal Gov’t Delegation Arrives In Saudi Arabia For Dantata’s Burial

BREAKING: Policemen Lay Siege To PDP Headquarters, Stop Planned BoT, NEC Meetings

US To Recognise Only Civil Marriages For Refugee, Asylum Spousal Applications

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.