The Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed its long-term commitment to supporting the African Petroleum Producers Organisation (APPO) and the newly established Africa Energy Bank (AEB), stressing that the success of both institutions is critical to the future of Africa’s oil and gas industry.
The pledge was made on Thursday by the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, during a courtesy visit to the Board’s Abuja liaison office by the newly appointed APPO Secretary General, H.E. Farid Ghezali. Ghezali was accompanied by senior APPO officials, Mr Bakary Traore and Mr Tchananti Sahguir.
The visit came days after Nigeria formally handed over the fully furnished and equipped headquarters of the Africa Energy Bank to APPO in Abuja. The facility, provided by the Nigerian government, paves the way for the bank’s official launch by APPO in partnership with Afreximbank, with operations expected to commence by June 2026.
Ogbe assured APPO of NCDMB’s full operational backing for the successful rollout of the Africa Energy Bank, noting that the Board’s support is in line with directives of President Bola Ahmed Tinubu and the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri.
“The future of the African oil and gas industry depends largely on the performance of both APPO and the Africa Energy Bank,” Ogbe said. “NCDMB stands ready to provide the necessary operational support to ensure the successful launch and sustainability of the bank.”
He described the AEB as a strategic institution designed to address Africa’s energy financing gaps and strengthen the continent’s capacity to fund oil and gas projects amid changing global energy dynamics.
In his remarks, Ghezali, who assumed office in January 2026, underscored the longstanding partnership between APPO and NCDMB and called for its continuation. He outlined key priorities for his tenure, including improved transparency in APPO’s operations, timely financial contributions by member countries, increased subscriptions, and the recruitment of new members, with Mauritania expected to join the organisation.
On the Africa Energy Bank, the APPO Secretary General emphasised the importance of strong governance, advocating a transparent process for appointing members of the bank’s Governing Board. He also stressed strict compliance with Know Your Customer (KYC) requirements and credibility standards to ensure the bank operates as an inclusive and trusted continental institution.
Discussions during the meeting also focused on capacity building and local content development. Ghezali proposed the creation of an interactive platform to showcase African-certified companies operating in specialised sectors and suggested leveraging the NCDMB’s Nigerian Content Academy to support training programmes across APPO member states.
Both parties agreed on a number of guiding principles, including equitable sharing of project benefits, harmonisation of regulatory frameworks, technical assistance, knowledge exchange, genuine collaboration, and the promotion of regional markets—particularly within West Africa—under the African Continental Free Trade Area (AfCFTA).
Key action points identified at the meeting include the launch of the interactive local content platform in the first half of 2026, enforcement of financial discipline among member states, circulation of detailed roadmaps and timelines to stakeholders, follow-up on outstanding contributions, and continued operational support for the Africa Energy Bank’s launch.
Ogbe requested that APPO provide a comprehensive roadmap outlining implementation timelines and the organisation’s current financial status. Both sides also agreed to convene a follow-up meeting to review progress and ensure timely delivery of agreed milestones.
