The long-planned Africa Energy Bank will start operations this quarter with $5 billion in equity from member nations and shareholders, said Nigerian Minister of State for Petroleum Resources Heineken Lokpobiri.

The highly anticipated Africa Energy Bank (AEB) is set to launch in the first quarter of 2025, according to Nigeria's Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri. ・Africa Energy Bank (AEB) to launch in first quarter of 2025 ・Aims to finance oil and gas projects and support Africa’s energy transition with a $120 billion asset