Abuja Hands Over $5bn Energy Bank HQ to Save Africa’s Oil and Gas from Foreign Funding Cuts

Nigeria has officially cemented its role as the financial capital of Africa’s energy future. In a high-profile ceremony in Abuja this Monday, the Federal Government formally handed over the completed headquarters of the African Energy Bank (AEB) to its promoters, marking the final hurdle before the $5 billion institution begins operations.

The move is a massive win for the continent’s oil and gas sector, which has been under siege as international banks withdraw funding for fossil fuels in favor of “green” energy. The AEB is Africa’s self-funded answer a bank designed by Africans, for Africans, to ensure that the continent’s 210 trillion cubic feet of gas and vast oil reserves don’t stay trapped in the ground.

“Nigeria has met every single one of its commitments,” declared the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, as he handed over the facility. “The building is ready, tastefully furnished, and strategically located. We are now backing a full take-off no later than June 2026.”

The new headquarters, located in the prestigious Afreximbank African Trade Centre in Abuja, will serve as the command center for 18 oil-producing nations. APPO President Mamadou Sangafowa-Coulibaly praised Nigeria’s speed in delivering the facility, noting that the only thing left is a final general meeting to flip the switch on operations.

For the average Nigerian, this isn’t just about big buildings and oil tycoons. The bank is expected to fund local refineries, gas-to-power projects, and infrastructure that could eventually lower energy costs and create thousands of jobs across the country.

With $5 billion in startup capital and a goal to hit $120 billion in assets, the African Energy Bank is being positioned as a global heavyweight. By hosting this “energy powerhouse,” Abuja has sent a clear message to the world: Africa is ready to finance its own prosperity.