Tag
APPO
The Federal Government has designated January 28, 2025, as deadline for operationalizing the $5 billion Africa Energy Bank in Abuja, Nigeria’s capital.
The Secretary-General of the African Petroleum Producers Organisation (APPO), Omar Farouk Ibrahim, has said that nearly 75% of oil produced in Africa is exported to other continents for energy consumption.
The African Export-Import Bank (Afreximbank) says Nigeria is among the largest beneficiaries accounting for about 60% of its US$30 billion funding of the energy sector in Africa.
The African Petroleum Producers Organisation (APPO) has pledged a sum of $5bn for the establishment of the African Energy Bank (AEB), with the aim of advancing oil and gas projects across oil-producing member countries.
APPO and African Export-Import Bank have signed a Memorandum of Understanding (MoU) to establish an African Energy Transition Bank.
There is a wave of change coming and COVID-19 is the first of the determinants that oil and gas investment will gradually be reducing.