Nigeria secures bid to host $5 billion Africa Energy Bank in Abuja.

Nigeria has successfully secured the bid to host the headquarters of the newly established $5 billion African Energy Bank (AEB) in its capital city, Abuja.

This is contained in a statement by the State Minister for Petroleum Resources (oil), Heineken Lokpobiri, on Thursday via his official X account.

Lokpobiri said that the bank would play a crucial role in financing and advancing energy projects across Africa, promoting innovation, sustainability, and economic growth.

Nigeria emerged as the preferred host nation amid competition from Ghana, Benin, Algeria, South Africa, and Cote d'Ivoire.

Lokpobiri assured Nigerians and Africans, that the establishment of the AEB would mark a transformative era in meeting energy needs.

"I am delighted to share that Nigeria has been selected to host the headquarters of the African Energy Bank! This prestigious honour is a testament to our country's leadership and commitment to the energy sector.

"As the Minister for Petroleum Resources[Oil], I am incredibly proud of this achievement. The African Energy Bank will be a cornerstone for financing and advancing energy projects across Africa, promoting innovation, sustainability, and economic growth.

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