• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, October 26, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

‘Nigeria Sustains Campaign To Host African Energy Bank’

by Chika Izuora
2 years ago
in Business
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri

Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri

Share on WhatsAppShare on FacebookShare on XTelegram

The minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has expressed optimism that Nigeria may receive the nod to host the African Energy Bank (AEB).

Advertisement

The bank, he said, is key to driving the necessary investment needed to boost the country’s oil production and increase government’s revenue.

To him, “For the African Energy Bank, we are running with Ghana. It is now between Nigeria and Ghana on which of them will be able to get the headquarters of the African Energy Bank. The African Energy Bank starts with $5 billion. If we have it in Nigeria, in four to five years, it will grow to About $120 billion. Imagine what that will do to the GDP of our economy. We must try our best to ensure we get the headquarters of the African Energy Bank to Nigeria,” Lokpobiri said, while speaking during an energy event in Lagos.

Advertisement

“The solution is to talk to ourselves to reach out to the banks we have in Nigeria. We should put funds into our banks to make them strong enough. As a government, we will do everything globally possible to attract the desired investments. We are willing to remove all bottlenecks in the industry. The president has directed that we should remove all the bottlenecks. And that is why we are trying to remove the problem of OML425, the popular Malabu Oil Field.

“If we don’t attract investments, this resource we have will just be buried under the soil with no value addition. I’ve accompanied the president to several countries of the world and I’ve heard him tell potential investors that, ‘bring in your money and take out your money at will’. That means, come and invest and divest at will. We are not against any company that wants to divest.

“If in the next few years, we are able to ramp up production and increase our revenue base, we will not necessarily need the Big 5’s to monopolise our investment”.

RELATED NEWS

2025 OTL Africa Downstream Energy Week Sets Agenda For Industry Innovation

Nigeria Records $50bn Cryptocurrency Transactions In 1 Year

Coca-Cola Ties $393m Loss To Chi Limited’s Sale

Customs Generate N350bn At Ports Terminal, Intercepts N200m Unregistered Drugs

Lokpobiri stated, “But the summary of what I want to say today is that, as a government, our own policy is to ensure that we do everything that is globally possible that other countries don’t have and that other countries are doing to attract investment, so that we can attract the desired investment.

“We are willing to remove all bottlenecks in the industry because every country that has oil, prioritises investment in the oil and gas sector, and that is why as a government, the president has directed that we should resolve all problems we have in the industry.”

 

Join Our WhatsApp Channel

Breaking News: Nigerians at home and abroad can now earn in USD by acquiring ultra-premium domains from $3,000 and profiting up to $36,000. Perfect for professionals. Click here.

SendShareTweetShare

OTHER NEWS UPDATES

2025 OTL Africa Downstream Energy Week Sets Agenda For Industry Innovation
Business

2025 OTL Africa Downstream Energy Week Sets Agenda For Industry Innovation

3 hours ago
Agama Assumes Office As Acting SEC DG
Business

Nigeria Records $50bn Cryptocurrency Transactions In 1 Year

7 hours ago
Coca-Cola System Promotes Sustainable Ecosystems, Ocean Preservation
Business

Coca-Cola Ties $393m Loss To Chi Limited’s Sale

15 hours ago
Advertisement
Leadership join WhatsApp

LATEST UPDATE

4 Occupants Injured As Car Crashes Into Abuja’s Millennium Park

54 minutes ago

Immunisation: FCTA Engages Religious Leaders To Tackle Non-compliance In Abuja

2 hours ago

Mining: Nigeria Is Best Place To Invest, Alake Tells Chinese Businesmen

2 hours ago

‘In My House, I’m A Queen’, Regina Daniels Flaunts New Mansion Amid Marital Crisis

3 hours ago

After Killing 50 Terrorists In Foiled Multiple Attacks, Troops Neutralise Another 10 In Borno

3 hours ago
Load More

© 2025 Leadership Media Group - All Rights Reserved.

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

© 2025 Leadership Media Group - All Rights Reserved.