Board Pledges Support For Petroleum Producers

The Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed its strong support to the African Petroleum Producers Organisation (APPO) and its newly established financial institution – the Africa Energy Bank (AEB).

The executive secretary of NCDMB, Engr Felix Omatsola Ogbe, made the pledge on Thursday when the new secretary general of APPO, Farid Ghezali, in company of senior officials of APPO, Mr Bakary Traore and Mr Tchananti Sahguir, paid him a courtesy visit at the Board’s liaison office in Abuja.

The meeting came on the heels of Nigeria’s handing over of the fully set up office of AEB on Monday, paving way for the bank’s launch by APPO and Afreximbank – owners of the institution.

In a statement on Friday by the GM, Corporate Communications Division, Dr Obinna Ezeobi, the executive secretary conveyed the agency’s strong support to APPO and the Africa Energy Bank’s success, noting that the future of the African oil and gas industry depended largely on the performance of both institutions.

“The NCDMB stands ready to provide operational support for the bank’s launch, in full alignment with the directives of President Bola Ahmed Tinubu and the Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri,” he noted.

The APPO secretary general, who assumed office in January 2026, sought the continued support of NCDMB to actualise APPO’s operations, recalling the long-standing relationship between the institutions.

While outlining plans for improved transparency in the association’s operations, he advocated for timely financial contributions from member countries, recruitment of new members, and an expected increase in subscriptions.