Mkpoikana Udoma
Port Harcourt — The Nigerian Content Development and Monitoring Board, NCDMB, has underscored the need for strict transparency, objectivity and sound governance structures as preparations intensify for the launch of the African Energy Bank, warning that credibility will determine the institution’s long-term success.
This position was outlined when the NCDMB leadership, led by its Executive Secretary, Engr. Felix Omatsola Ogbe, received a delegation of APPO executives headed by its Secretary General, H.E. Farid Ghezali, at the Board’s liaison office in Abuja.
Speaking during the engagement, Engr. Ogbe said the APPO Bank represents a strategic opportunity to reshape Africa’s energy financing landscape, but stressed that its success must be anchored on trust, fairness and clearly defined processes.
“The credibility of the APPO Bank will depend on transparency, objectivity and strong governance. These are non-negotiable if the bank is to earn the confidence of member countries and investors,” Ogbe said.
He reaffirmed NCDMB’s commitment to supporting the bank’s launch and operations, noting that the Board’s interest lies in institutional strength rather than control.
“NCDMB is ready to support this initiative fully, but not in a way that seeks undue influence or control. What matters to us is a fair, transparent process that delivers long-term value to Africa,” he added.
The Director of Corporate Services, Dr. Abdulmalik Halilu, also participated in the discussions, which focused on aligning the bank’s objectives with broader African development goals, including industrialisation, local content growth and regional integration.
Beyond the bank launch, both organisations explored avenues for deeper cooperation in local content development and capacity building across Africa’s oil and gas value chain.
Key proposals included leveraging Nigeria’s oil and gas training academy, creating an interactive digital platform for African-certified companies, and ensuring more equitable distribution of project opportunities among APPO member states.
According to Ogbe, such initiatives would strengthen indigenous capacity and reduce Africa’s dependence on external service providers.
“Africa must deliberately build and deploy its own capacity. Through collaboration, training and shared platforms, we can ensure that African companies compete effectively and retain more value within the continent,” he said.
The discussions also aligned with the broader objectives of the African Continental Free Trade Area, AfCFTA, with both parties reaffirming their commitment to disciplined execution and deeper African market integration.
On his part, APPO Secretary General H.E. Farid Ghezali welcomed NCDMB’s support and acknowledged Nigeria’s leadership role in advancing local content and institutional development in Africa’s energy sector.
The meeting signals growing momentum behind the APPO Bank, which is expected to play a critical role in financing upstream and midstream energy projects across Africa, particularly as global capital for hydrocarbons becomes more selective.
