Business and Economy
NNPC, Afreximbank Strengthen Partnership to Drive Africa’s Energy Growth
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced plans to strengthen collaboration with the African Export-Import Bank (Afreximbank) to support energy development initiatives across the African continent.
According to a statement issued on Monday, the partnership discussions took place during a meeting held last week at the NNPC Towers in Abuja between the Group Chief Executive Officer of NNPC Ltd.
During the meeting, NNPC Ltd. highlighted its strategic vision under the Enterprise First framework, which positions the company as a high-performing “Partner of Choice” committed to effective execution and sustainable profitability.
The statement noted that both organisations agreed on a common agenda focused on advancing Africa’s energy sector and promoting industrialisation across the continent. As part of the agreement, regular strategic engagements will be held, with the first session expected later this year.
Discussions also centred on the proposed African Energy Bank, which is expected to be headquartered in Abuja. NNPC Ltd. reaffirmed its commitment to increasing investment and support for the initiative.
Afreximbank, on its part, pledged continued backing for NNPC Ltd.’s expansion efforts through structured financing, refinancing programmes, and risk-sharing arrangements aimed at boosting the development of Nigeria’s oil and gas industry.
