Africa Energy Bank Raise $15 Billion Dollar for African Energy Project by 2030

The African Energy Bank (AEB) is being positioned to raise approximately $15 billion to finance oil and gas projects across Africa by 2030, the Association of Petroleum Producers’ Organisation (APPO) has announced.

APPO Secretary-General, Farid Ghezali, disclosed this on Tuesday during the opening of the 2026 Nigeria International Energy Summit at the State House, Abuja. The bank is expected to begin full operations in Abuja by June and is projected to create over 500,000 direct jobs in the local midstream sector.

The AEB is a joint initiative of APPO member states and the African Export-Import Bank, established with an initial capital of $5 billion. Its mandate is to mobilize domestic and regional capital for energy infrastructure, reduce Africa’s reliance on external financing, and align energy investments with the continent’s long-term industrialisation and development goals.

“The AEB will unify intra-African pricing for gas and oil, enabling member countries to save up to 30 per cent on energy imports—a potential gain of $1.4 billion for Africa,” Ghezali said.

He highlighted Africa’s paradoxical situation: the continent exports about 70% of its crude oil and 45% of its natural gas while losing $15 billion annually due to limited local development. Financing constraints continue to block over 150 critical projects, including refineries, pipelines like the Ajeokuta-Kaduna-Kano (AKK) pipeline, and gas infrastructure.

The AEB aims to unlock the $200 billion needed for Africa’s midstream and downstream energy projects by 2030. It will also enable the listing of shares in national oil companies and flagship projects, such as the Dangote Refinery and the AKK gas pipeline. Additionally, it plans to connect Africa’s certified projects to global sovereign wealth funds and capital markets through structured equipment and public-private partnerships.