csrreporters 
Afreximbank
Senator Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources (Oil), has announced a major investment of $19 billion by Afreximbank to fund the African Energy Bank. This significant funding aims to combat energy poverty, drive sustainable economic growth, and enhance the quality of life for millions across the continent.
Speaking at the Nigerian Pavilion during the Offshore Technology Conference (OTC) 2025 in Houston, Texas, Lokpobiri emphasized the importance of regional partnerships. The event, hosted by the Petroleum Technology Association of Nigeria (PETAN), carried the theme “Africa’s Energy Renaissance: Leveraging Innovation and Natural Gas for Sustainable Development.”
According to him, African nations must work together to finance and implement large-scale energy projects. Without this collaboration, efforts to bridge the energy gap will remain fragmented and ineffective.
The minister stressed that Africa must tailor its energy policies to its own realities. Copying foreign models will not solve the continent’s unique challenges. He warned that disjointed strategies will hinder progress.
“This conference is not a jamboree. It is a platform for Nigeria and Africa to showcase our vast energy potential,” he stated.
Lokpobiri highlighted the role of the Africa Petroleum Producers Organisation (APPO) in shaping unified energy strategies. He announced that APPO is currently setting up the African Energy Bank, which will address funding shortages and provide financial independence from external donors.
This move, he said, will empower African countries to pursue energy development on their own terms.
In a bilateral meeting, Lokpobiri urged Ghana’s Minister of Energy and Green Transition, John Abdullahi, to learn from Nigeria’s experience in oil and gas development. He advised Ghana to avoid common pitfalls seen in Nigeria’s early energy sector reforms.
Abdullahi responded positively, praising Nigeria’s leadership in the region and expressing Ghana’s willingness to collaborate on:
Local content development
Climate-friendly energy policies
Regulatory reforms
“We will continue to consult Nigeria as we grow our oil and gas industry,” Abdullahi assured.
PETAN Chairman, Wole Ogunsanya, affirmed the importance of Nigeria’s participation in OTC 2025. He noted that the event will spotlight Africa’s expanding role in the global energy ecosystem.
“OTC 2025 will gather top-tier leaders and policymakers in the world’s largest energy forum,” Ogunsanya concluded.