Nigeria Pledges to Adhere to September Take-Off of $5bn Africa Energy Bank

Nigeria’s federal government on Wednesday pledged to adhere to its promise to ensure that the $5 billion African Energy Bank (AEB) which it recently won the hosting rights takes off by September.

Speaking when the leadership of the African Petroleum Producers’ Organisation (APPO) visited him in Abuja to ascertain the level of preparation, the Minister of State, Petroleum (Oil), Senator Heineken Lokpobiri, noted that by next month ending, work would have progressed.

Addressing concerns raised by the Secretary General of APPO, Farouk Ibrahim, Lokpobiri stressed that Nigeria was given the hosting rights by majority of African oil producers, urging him not to listen to petty talk by those who were making vile remarks against him after the process had been completed.

“We want to very emphatically state that Nigeria is committed to meeting our obligations as a host country. We are working day and night to ensure that we meet the September ending deadline. We believe that we will be able to meet the deadline. Even if we do not meet the deadline, the whole of Africa will see that everything is almost in place and the bank can actually start off.

“The issues raised, which are the host country agreement, the headquarters building, and then the balance of the subscription, these three issues are issues that we are working very seriously to fulfil before the end of September so that the bank can actually start off,” Lokpobiri stated.

He noted that the Permanent Secretary, Nicholas Ella, was personally spearheading the technical team to ensure that everything that needed to be done was done within the time frame.

“I want to assure you and assure the rest of APPO members that Nigeria is committed to its obligation as a host country. It would not be a regret at all by members of APPO that Nigeria was indeed given the hosting rights to host the headquarters of Africa Energy Bank.

“ I believe that your next visit, we will arrange a visit where we will go and see Mr President together so that you can also personally speak to him. I have already given a preliminary brief,” Lokpobiri explained.

While thanking Ibrahim for being a good ambassador, he urged the Nigerian indigene not to take those running him down seriously, explaining that his credibility remains intact.

“I recall that whatever they did was based on the fact that you are Nigerian, but none of them can say anything negative. Nobody can successfully say that you don’t have best qualities and experience to be able to build APPO to where it is today,” he stated.

 Speaking earlier, the APPO Secretary General, Ibrahim, stated that Nigeria won  fair and square, but explained that the country cannot afford to fail those who voted for it.

“The least I expect from Nigeria is to work to make sure that what has been said about me, really do not come to pass so that people will say, we said it, we said it. I want to appeal to you and to the government to do everything you can to conform with what you have promised APPO, the promise that informed the decision to give Nigeria the hosting right.

“Everybody is looking up to Nigeria. Ministers of other countries are asking me when are you moving? When are we starting? As I am here today, I want to appeal to you, help us to keep the Nigerian name flying. There are two issues. One is the host country agreement. The second is the headquarters preparing it.

“The third really is to make up the difference between what Nigeria pledged and what Nigeria has been so far. I want to say that Nigeria should be proud of its team in APPO,” he explained.

Emmanuel Addeh and Aminat Hassan

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