He said the landmark initiative of establishing the AEB has the potential to revolutionize energy financing across the continent by providing funding tailored to Africa’s unique energy needs especially for oil-producing nations.
The African Energy Bank, Lokpobiri went on to say represents a shift toward financial autonomy. It allows us to move away from dependency on foreign capital and external policies that do not align with Africa’s development priorities.
This bank has the power to unlock billions in funding, accelerate infrastructure development, and secure Africa’s energy future, he said adding, “This is how we take control of our destiny.”
However, he added that for the African Energy Bank to succeed, it requires broad support as every African nation must play a role in strengthening this institution, ensuring it serves as a catalyst for economic transformation.
Nigeria has taken the lead in hosting this bank, but its success will depend on the collective commitment of all African nations, private investors, and regional financial institutions, he said.
Lokpobiri, told participants that to build Africa’s energy future, there must be regional cooperation and collaboration.
He advised that the continent should create frameworks that encourage African nations to work together, rather than compete against one another.
The energy industry of tomorrow he says requires a skilled, innovative workforce that is ready to seize global opportunities and that technology is also
transforming the world, therefore Africa must lead.