Amanze Chinonye
The Nigerian Content Development and Monitoring Board (NCDMB) has reiterated its commitment to supporting the African Petroleum Producers Organisation (APPO) and the newly established Africa Energy Bank (AEB), describing both institutions as critical to the future of Africa’s oil and gas industry.
The pledge was made by the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, during a courtesy visit by the Secretary General of APPO, H.E. Farid Ghezali, at the Board’s Abuja liaison office on Thursday.
The visit followed Nigeria’s handover of the fully completed office of the Africa Energy Bank earlier in the week, ahead of the bank’s formal launch by APPO and Afreximbank, its joint owners.
Join our WhatsApp ChannelOgbe said NCDMB was ready to provide operational support for the successful take-off of the bank, noting that its mandate aligned with the Federal Government’s broader energy objectives.
He said the Board’s support was in line with the directives of President Tinubu and the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, adding that the effectiveness of APPO and the AEB would significantly shape the trajectory of Africa’s energy sector.
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Ghezali, who assumed office as APPO Secretary General in January 2026, called for sustained collaboration with NCDMB, citing the long-standing relationship between both institutions. He outlined plans to strengthen transparency within APPO, improve financial discipline among member countries, expand membership, and increase subscriptions.
He disclosed that Mauritania is expected to join APPO in the near future, a move he said would further deepen the organisation’s continental footprint.
The APPO Secretary General also stressed the importance of a transparent governance framework for the Africa Energy Bank, including the selection process for its Governing Board, to ensure all member countries remain adequately informed. He highlighted the need for strict Know Your Customer (KYC) and credibility standards to build confidence in the institution.
Both parties also discussed capacity-building initiatives, including the proposed launch of an interactive platform to showcase certified African companies and the use of NCDMB’s Nigerian Content Academy to support training and skills development across APPO member states.
Other areas of discussion included harmonisation of regulations, equitable distribution of project benefits, technical assistance, knowledge sharing, and the promotion of regional markets, particularly within West Africa, under the African Continental Free Trade Area (AfCFTA).
Key outcomes of the meeting included plans to launch the interactive local content platform in the first half of 2026, circulate operational roadmaps to stakeholders, follow up on outstanding financial contributions, and provide support for the Africa Energy Bank’s launch.
Ogbe requested APPO to share a detailed implementation roadmap, timelines, and updates on its financial position, while both sides agreed to convene a follow-up meeting to assess progress.
The Africa Energy Bank is expected to play a key role in mobilising financing for oil, gas and broader energy projects across the continent, addressing long-standing funding gaps and supporting sustainable development.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
