NCDMB Backs APPO, Africa Energy Bank Launch Plans

The Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed its support for the African Petroleum Producers Organisation (APPO) and the newly established Africa Energy Bank (AEB), as preparations advance toward the bank’s operational launch.

NCDMB Executive Secretary Felix Omatsola Ogbe gave the assurance during a meeting in Abuja with APPO Secretary-General Farid Ghezali and senior officials of the organisation, shortly after Nigeria handed over the bank’s headquarters to its promoters.

Ogbe indicated that the board would provide institutional backing for the bank’s rollout, aligning with federal government efforts to strengthen Africa-led financing for oil, gas and broader energy projects.

The engagement followed Nigeria’s transfer of a fully equipped office for the bank, a step expected to accelerate its launch by APPO and the African Export-Import Bank (Afreximbank), the institution’s financial partner.

Discussions focused on governance, transparency and operational readiness for the bank, including the need for structured board appointments, clear regulatory processes and stronger financial commitments from member countries.

Ghezali emphasised the importance of credibility standards, transparency and inclusive governance in building confidence around the institution, while also pushing for timely contributions and expanded membership. Mauritania is expected to join APPO, further extending its continental footprint.

Both organisations also explored collaboration on capacity development, knowledge exchange and regional market integration, including plans to deploy an interactive platform showcasing African-certified service companies and training initiatives through the Nigerian Content Academy.

The Africa Energy Bank is designed to mobilise financing for upstream, midstream and downstream projects at a time when global capital for fossil fuel development is tightening, positioning it as a strategic tool for energy security and industrial growth across the continent.