By: Goodluck E.Adubazi, Abuja.

Nigeria has reaffirmed its leadership in Africa’s energy sector by signing a Memorandum of Understanding (MoU) with Angola and Algeria to strengthen Research and development, while pledging to fully fund if other participating countries are unable to meet its equity contribution for the take-off of the proposed Africa Energy Bank.

The agreement was signed on Wednesday at the PTDF Conference Hall in Abuja during the opening of the 3rd Meeting of the Africa Petroleum Producers Organization (APPO) Forum of Directors of Research and Development (R&D) and Innovation Centres in Oil and Gas, hosted by Nigeria.

Speaking at the event, the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, described the MoU signing as a significant step toward strengthening collaboration in research and development across Africa’s energy sector.

He emphasized Nigeria’s readiness to fund its share—and more if necessary—to ensure the successful launch of the Africa Energy Bank.

According to the minister, the bank—an initiative of the African Petroleum Producers Organization (APPO)—requires equity contributions of $83.3 million from each participating country.

He disclosed that Nigeria is currently the only country that has fulfilled this obligation.

“Nigeria is committed to the commencement of the Africa Energy Bank,” he said.

“If other countries are unable to meet their obligations, the Federal Government is prepared to step in to ensure the bank takes off successfully.”

The minister also challenged stakeholders to rethink strategies for addressing Africa’s energy security challenges, particularly in financing technology and accessing markets.

He urged participants at the forum to remain focused and develop innovative solutions capable of driving the continent forward.

The APPO Forum drew participation from several African countries, including Libya, Niger, Senegal, Equatorial Guinea, South Africa, Gabon, Ghana, Egypt, Angola, Algeria, Côte d’Ivoire, Congo, Chad, and Nigeria.

In his remarks, APPO Secretary General H.E Farid Ghezali praised Nigeria for its hospitality, describing the gathering as a “turning point” for Africa’s energy future.

He stressed the importance of collaboration, urging participants to prioritize initiatives that benefit national oil companies and strengthen local value.

“If there is one thing we can no longer postpone in Africa, it is digitalization,” he said, adding that the organization plans to launch an APPO Research Academy at its next forum to tackle practical challenges and enhance local content development.

Also speaking, Mohamed Mustapha Benamara of Sonatrach highlighted Africa’s growing role as a global energy hub, noting that the continent produces over 7 million barrels of oil per day, with Nigeria, Libya, and Angola contributing more than 1.4 million barrels daily.

He called for increased investment in research, technology, and innovation, warning that energy demand in Africa is expected to rise significantly by 2050.

Rasheed Olushola Ojulari, Chief Information Officer of NNPCL and incoming Chairman of APPO, pledged to prioritize decarbonization, data-sharing initiatives, and capacity development.

He assured stakeholders of strong coordination and accountability in driving the organization’s objectives.

Meanwhile, the Executive Secretary of the Petroleum Technology Development Fund (PTDF), Prof. Shuaibu Shehu Aliyu, described research as the cornerstone of innovation and emphasized the importance of partnerships in advancing Africa’s energy solutions.

In his keynote address, the Group Chief Executive Officer of NNPCL Limited, Bashir Ojulari, underscored the importance of collaboration, noting that innovation must remain central to Africa’s energy strategy.

“The cost of innovation is high, but the cost of obsolescence is even higher,” he said, reaffirming NNPCL’s commitment to building a competitive and secure energy future for the continent.

The forum officially opened with the MoU signing ceremony involving NNPCL, Algeria, and Angola, marking a renewed push for regional cooperation and sustainable energy development in Africa.