By Jide Dominic, Yenagoa
In a calculated bid to further strengthen the growth of the oil and gas industry in the country, the Nigerian Content Development and Monitoring Board (NCDMB) has expressed it’s readiness to support the African Petroleum Producers Organisation (APPO) and it’s financial institution, the African Energy Bank (AEB) which was established recently.
NCDMB’S Executive Secretary, Eng. Felix Omatsola Ogbe, who stated this during a courtesy visit by APPO to the board’s liason office also noted that the the strong financial support for APPO became necessary basically because the future of the Africa Oil and Gas Industry depends largely on the performance of both institutions.
According to him, the meeting between the board and APPO came on the heels of Nigeria’s handing over of the fully set up of the office of AEB, stressing that this has paved the way for the bank’s launching by APPO and Afreximbank, the owner of the institution. The Executive Secretary futher pointed out that the enduring support for APPO and AEB will eventually lead to the bank’s success story.
In his words: “NCDMB is ready to provide operational support for the bank’s launching, in line with President Bola Tinubu and the Minister of Petroleum, Oil, Heineken Lokpobiri agenda for the rejuvenation of the country’s oil and gas sector.
Eng. Ogbe requested that APPO circulate the detailed roadmap, implementation timeline and update on the financial position, while scheduling a follow up meeting to track progress.
He also explained NCDMB’S role in advancing Africa’s Energy agenda through strategic partnership like the AEB which is aimed at mobilizing significant financing for oil, gas and energy projects, addressing historical funding gaps and promoting sustainable development across the continent.
While responding, the Secretary General of APPO, Fraid Ghezali, called for the continued support from NCDMB to actualize APPO’s operations, adding that this became imperative considering the long relationship between the institutions.
He however highlighted plans for improved transparency in the association’s operations, advocating for timely financial contribution from member countries, recruitment of new members and an expected increase in subscriptions.
Fraid Ghezali announced that Mauritania is expected to be a member of APPO soon to futher strengthen and widen the African Continent scope of operations.
He also attached significant importance to the need for a transparent selection process of the governing board of Africa Energy Bank as well as structure and governance process to ensure that all APPO member countries remain equally informed of developments in the bank, underscoring the benefits of rigorous “Know Your Customer”, KYC and the requirements to build a credible and all inclusive institution.
Ghezali proposed developing an interactive platform to showcase African Certified Companies in specialized areas, recommending the leveraging of NCDMB’S reknowed Nigerian Content Academy for training and skill development across member states.
Highpoint of the visit was the agreement reached on the need for equitable distribution of projects, harmonisation of codes of registration, technical assistance, knowledge sharing, honest collaboration and the promotion of regional markets, particularly in West Africa under the Continental Free Trade Area (AfCFTA) framework.
Key decisions taken at the meeting include launching of the interactive local content platform in the first half of 2026, prioritizing financial discipline, circulating relevant roadmaps to stakeholders following up on outstanding contributions and promoting operational support for the launching.
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