Nigeria, others to establish $5bn energy bank

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From Adewale Sanyaolu, Calgary, Canada

Nigeria and other 17 member countries under the auspices of the African Petroleum Producers Organisation in collaboration with Afreximbank have concluded plans to establish a $5 billion African Energy Bank(AEB).

Secretary General of APPO, Mr. Omar Farouk Ibrahim, disclosed this at a media briefing held on the sidelines of the ongoing 24th World Petroleum Congress(WPC) in Calgary, Canada,yesterday.

Ibrahim explained that the establishment of the bank is to address the funding challenge often associated with oil and gas projects.

According to him, the AEB…

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