Nigeria: Africa Energy Bank Key To Unlocking Continental Energy Potential — Felix Ogbe

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Felix Ogbe, has emphasised that the Africa Energy Bank (AEB) will play a transformative role in driving Africa’s energy security, industrial growth, and regional competitiveness.

Speaking at the 10th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos, Ogbe said the bank represents one of the continent’s most strategic vehicles for mobilising capital for large-scale energy projects at a time when global financing for hydrocarbons is tightening.

Ogbe noted that the AEB—established by the African Petroleum Producers Organisation (APPO) in partnership with Afreximbank—was designed to fill Africa’s long-standing financing gap, support indigenous players, and strengthen local content systems across member states.

“The Africa Energy Bank is a critical enabler for this moment in our continent’s development,” he said.

“It will provide access to affordable and dedicated funding, strengthen the capacity of industry players, and unlock the full potential of Africa’s energy resources.”

He stressed that the success of the bank depends on strong collaboration among African governments, regulators, investors, national oil companies, and private sector operators.

“I urge all stakeholders to actively support the realisation and operational success of the Africa Energy Bank as we work to unlock sustainable growth across Africa’s energy sector,” Ogbe said.

Speaking more broadly on local content development, he highlighted that collaboration between governments, private sector players, and local communities remains crucial for building resilient and competitive energy systems.

Ogbe added that regional cooperation is essential for harmonising regulations, aligning local content frameworks, and reducing policy bottlenecks that undermine project competitiveness. He pointed to the Brazzaville Accord as a platform capable of advancing regulatory alignment and promoting an Afrocentric approach to energy development.

By deepening indigenous participation, strengthening capacity, and enforcing standards that prioritise competence, Ogbe said Nigeria has created a structured local content system that can be replicated across the continent.

He noted that with unified policies, shared infrastructure, and access to sustainable financing—particularly through the Africa Energy Bank—African countries can jointly compete for global funding and accelerate the execution of cross-border energy projects.

Ogbe concluded that Africa’s energy prosperity depends on collective action:

“By working together across borders, industries, and sectors, we can build strong, inclusive, and sustainable local content systems that will elevate Africa’s energy sector in an evolving global landscape.”