By Adeyemi David
The Nigerian Content Development and Monitoring Board (NCDMB) has reiterated its strong support for the African Petroleum Producers Organisation (APPO) and the newly established Africa Energy Bank (AEB), emphasizing their critical role in advancing Africa’s oil and gas industry.
The commitment was made on Thursday by NCDMB Executive Secretary, Engr. Felix Omatsola Ogbe, during a courtesy visit by APPO’s newly appointed Secretary General, H.E. Farid Ghezali, accompanied by senior APPO officials Mr. Bakary Traore and Mr. Tchananti Sahguir, at the Board’s Abuja liaison office.
The visit followed Nigeria’s official handover of the fully equipped office for AEB on Monday, paving the way for its launch by APPO and Afreximbank, the Bank’s co-owners.
Engr. Ogbe assured APPO of NCDMB’s operational support for the bank’s launch, noting the institutions’ significance to Africa’s energy future.
“The NCDMB stands ready to support the bank’s launch, fully aligned with the directives of President Bola Ahmed Tinubu and the Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri,” he said.
H.E. Ghezali highlighted the importance of continued collaboration, improved transparency, timely member contributions, and recruitment of new members.
He revealed that Mauritania is expected to join APPO soon, further expanding its continental reach.
Ghezali also stressed the need for a transparent Governing Board selection and robust governance structure for the Africa Energy Bank to ensure credibility and inclusivity.
The discussions included plans for innovative capacity-building initiatives, such as an interactive platform showcasing African-certified companies, and leveraging NCDMB’s Nigerian Content Academy to provide training across member states.
Both sides agreed on harmonizing regulations, sharing technical knowledge, distributing project benefits equitably, and promoting regional markets under the African Continental Free Trade Area (AfCFTA).
Decisions from the meeting included launching the local content platform in the first half of 2026, enforcing financial discipline, circulating strategic roadmaps, tracking outstanding contributions, and providing operational support for the Bank’s launch.
Engr. Ogbe requested detailed updates on the Bank’s roadmap, financial status, and implementation timelines.
The engagement concluded on a positive note, reaffirming the commitment of NCDMB and APPO to transparency, genuine collaboration, and the mobilization of significant financing for Africa’s oil, gas, and energy projects to bridge funding gaps and promote sustainable development.
