The Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed its enduring commitment to the African Petroleum Producers Organisation (APPO) and the continent’s newly established financial institution, the Africa Energy Bank (AEB), in a move widely seen as pivotal to strengthening Africa’s energy financing architecture and institutional transparency.
The assurance was delivered by NCDMB’s Executive Secretary, Engr. Felix Omatsola Ogbe, during a high-level courtesy visit by APPO’s newly appointed Secretary-General, His Excellency Farid Ghezali, at the Board’s Abuja liaison office on Thursday. Ghezali was accompanied by senior APPO officials, Mr. Bakary Traore and Mr. Tchananti Sahguir.
The meeting followed closely on Nigeria’s formal handover of the fully established office complex for the Africa Energy Bank earlier in the week—clearing the final administrative hurdle ahead of the bank’s official launch by APPO and Afreximbank, joint promoters of the landmark continental financing institution.
Strategic Backing for Africa’s Energy Future
Speaking during the engagement, Ogbe underscored that the long-term resilience, competitiveness, and sustainability of Africa’s oil and gas industry would depend significantly on the operational success of APPO and the Africa Energy Bank.
He reiterated NCDMB’s readiness to provide operational and institutional support for the bank’s launch and early-stage activities, stressing that the Board’s position aligns fully with the strategic direction of President Bola Ahmed Tinubu and the Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri.
Energy analysts view the Africa Energy Bank as a transformative response to persistent financing constraints affecting oil, gas, and broader energy infrastructure projects across the continent—particularly as global capital for hydrocarbon development continues to tighten.
APPO Pushes Transparency, Membership Expansion
Having assumed office in January 2026, APPO Secretary-General Farid Ghezali used the visit to seek sustained collaboration with NCDMB while outlining reform priorities aimed at strengthening governance, credibility, and financial discipline within the organisation.
Key priorities highlighted include:
Improved operational transparency across APPO structures
Timely statutory financial contributions by member states
Recruitment of new member countries and increased subscription levels
Strengthening institutional credibility to support the Africa Energy Bank
Ghezali disclosed that Mauritania is expected to join APPO soon, a development projected to further expand the organisation’s continental reach and influence within Africa’s evolving energy landscape.
Governance and Credibility of the Africa Energy Bank
A major highlight of the discussions was the governance framework of the Africa Energy Bank.
Ghezali emphasised the importance of:
Transparent selection of the bank’s Governing Board
Inclusive governance that keeps all APPO member states fully informed
Strict Know-Your-Customer (KYC) and credibility requirements
These safeguards, he noted, are essential to building investor confidence and positioning the institution as a credible, pan-African energy financing platform.
Capacity Building and Regional Integration Agenda
Beyond financing and governance, both institutions explored forward-looking initiatives to deepen African participation across the energy value chain.
Among the proposals considered were:
Development of an interactive digital platform showcasing African-certified oil and gas service companies
Leveraging the Nigerian Content Academy for continent-wide training and technical skills development
Harmonisation of regulations and technical standards across member states
Promotion of equitable project benefit distribution
Expansion of regional energy markets under the African Continental Free Trade Area (AfCFTA)
These initiatives are expected to strengthen indigenous capacity while improving cross-border collaboration within Africa’s energy ecosystem.
Key Decisions and Implementation Timeline
According to Dr. Obinna Ezeobi, General Manager of Corporate Communications at NCDMB, the meeting produced several concrete resolutions, including:
Launch of the interactive local-content platform in first half of 2026
Reinforced financial discipline among APPO members
Circulation of detailed implementation roadmaps to stakeholders
Follow-up on outstanding financial contributions
Operational support for the formal take-off of the Africa Energy Bank
Ogbe further requested structured updates on timelines, financial status, and execution milestones, alongside the scheduling of a follow-up progress review meeting.
A Defining Moment for Africa’s Energy Financing
The meeting concluded on a strong note of renewed transparency, accountability, and genuine continental collaboration—reinforcing NCDMB’s growing influence in shaping Africa’s energy future through strategic partnerships.
With the Africa Energy Bank poised to mobilise large-scale financing for oil, gas, and energy infrastructure, stakeholders believe the initiative could help close decades-long funding gaps, accelerate industrial development, and strengthen Africa’s energy security in an increasingly uncertain global financing environment.
February 6, 2026
NCDMB reaffirms strong support for APPO and the Africa Energy Bank, advancing energy financing, transparency, and regional collaboration to drive sustainable oil and gas development across Africa.
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