The Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed its support for the African Petroleum Producers Organisation (APPO) and the Africa Energy Bank (AEB), as preparations continue for the bank’s formal launch.
RoundReports reports that the pledge was made on Thursday in Abuja by the Executive Secretary of NCDMB, Felix Omatsola Ogbe, during a courtesy visit by APPO’s new Secretary General, Farid Ghezali, who was accompanied by senior officials of the organisation.
The meeting followed Nigeria’s handover earlier this week of the fully established office of the Africa Energy Bank, clearing the way for its launch by APPO in partnership with Afreximbank.
Ogbe said the success of APPO and the Africa Energy Bank would be central to the future of Africa’s oil and gas industry, adding that the NCDMB was ready to provide operational support for the bank’s take-off.
According to him, the board’s position aligned with the directives of President Bola Tinubu and the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri.
Ghezali, who assumed office in January, sought continued backing from the NCDMB to strengthen APPO’s operations, citing a long-standing relationship between both institutions.
He outlined plans to improve transparency within the organisation and called for timely financial contributions from member states, the recruitment of new members and increased subscriptions.
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The Secretary General also disclosed that Mauritania was expected to join APPO, a move he said would further expand the organisation’s continental footprint.
On the Africa Energy Bank, Ghezali stressed the need for a transparent process in appointing the bank’s governing board, alongside clear structures and governance frameworks.
He asserted that all member countries must be kept equally informed of developments and underscored the importance of strict Know Your Customer and credibility standards.
The discussions also covered capacity-building initiatives, including a proposal for an interactive platform to showcase certified African companies and the use of NCDMB’s Nigerian Content Academy for training across member states.
Both sides agreed on the need for harmonised regulations, equitable distribution of project benefits, technical assistance, knowledge sharing and stronger regional markets, particularly in West Africa under the African Continental Free Trade Area.
Key outcomes included plans to launch the local content platform in the first half of 2026, improve financial discipline, circulate implementation roadmaps to stakeholders and follow up on outstanding member contributions.
Ogbe requested that APPO provide a detailed roadmap, implementation timeline and an update on its financial position, with a follow-up meeting scheduled to review progress.
The Africa Energy Bank is expected to play a major role in mobilising financing for oil, gas and wider energy projects across the continent, addressing long-standing funding gaps in the sector.