The Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed its commitment to supporting the African Petroleum Producers Organisation (APPO) and its newly established financial institution, the Africa Energy Bank (AEB).
The Executive Secretary of NCDMB, Engr. Felix Ogbe, made the pledge when the Secretary General of APPO, H.E. Farid Ghezali, paid him a courtesy visit at the Board’s Abuja liaison office. Ghezali was accompanied by senior APPO officials, Mr Bakary Traore and Mr Tchananti Sahguir.
The visit followed Nigeria’s recent handover of the fully established AEB office, clearing the way for the bank’s formal launch by APPO and Afreximbank, joint owners of the institution.
Ogbe assured APPO of NCDMB’s operational and institutional support, noting that the success of APPO and the Africa Energy Bank is critical to the future of Africa’s oil and gas industry.
“The NCDMB stands ready to provide operational support for the launch of the Africa Energy Bank, in line with the directives of President Bola Ahmed Tinubu and the Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri,” he said.
Ghezali, who assumed office in January 2026, solicited continued collaboration with NCDMB to strengthen APPO’s operations, recalling the longstanding relationship between both institutions. He outlined reforms aimed at improving transparency, advocating timely financial contributions from member countries, recruitment of new members, and increased subscriptions.
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He also disclosed that Mauritania is expected to join APPO soon, a development he said would further expand the organisation’s continental footprint.
The APPO Secretary General stressed the need for a transparent selection process for the Governing Board of the Africa Energy Bank, as well as strong governance and structural frameworks that ensure all member countries are fully informed of developments. He further underscored the importance of strict Know Your Customer (KYC) and credibility requirements to build a trusted and inclusive financial institution.
Discussions also focused on capacity-building initiatives, including plans for an interactive platform to showcase African-certified companies in key technical areas. Ghezali proposed leveraging NCDMB’s Nigerian Content Academy to support training and skills development across APPO member states.
Both parties agreed on the need for equitable distribution of project benefits, harmonisation of local content regulations, technical assistance, knowledge sharing, and stronger regional collaboration, particularly within West Africa under the African Continental Free Trade Area (AfCFTA).
Key resolutions from the meeting include the launch of the interactive local content platform in the first half of 2026, prioritisation of financial discipline, circulation of implementation roadmaps, follow-up on outstanding contributions, and operational support for the Africa Energy Bank’s launch.
Engr. Ogbe requested APPO to circulate a detailed roadmap, implementation timeline, and an update on the bank’s financial position, while proposing a follow-up meeting to assess progress.
The meeting ended on a positive note, with both sides reaffirming their commitment to transparency, cooperation, and strategic partnership in advancing Africa’s energy development agenda.
