Nigeria wins bid to host $5bn African Energy Bank, promoting Africa's hydrocarbon resources and energy transition.

Nigeria has won the bid to host the $5bn African Energy Bank (AEB) following a competitive process against Ghana, Benin, Algeria, South Africa, and Cote d'Ivoire. The bank aims to finance Africa's hydrocarbon resources, support energy transition, and net-zero commitments. The decision highlights Nigeria's robust energy sector and strategic vision for Africa's energy future, and the bank is expected to provide financial support for energy projects driving growth and development across the continent, aligning with the African Union's Agenda 2063.