During the 9th edition of the Nigeria Energy Forum (NEF) 2024, the chairman, Dr Oluwole Adeuyi, disclosed NEF’s plans to attract $100 million in financing for the energy sector. This follows the successful origination of a landmark 40 million USD agro-industry financing deal at NEF2023 between the Africa Export and Import Bank (Afreximbank) and a homegrown manufacturer.
The conference themed, “Energising Sustainable Industrialisation,” aims to address energy challenges, build technical capacity, and promote energy innovation and investment.
NEF 2024 focuses on powering industrialisation and growth plenary, energising export development and critical minerals, financing manufacturing and energy solutions, women energy pacesetters and pathfinders, boosting extractive industry and methane abatement, and upscaling energy innovations and open access tools.
Adeuyi added, “The 2024 Forum is building on the success of last year’s story, and we have set a minimum target to originate and mobilise over $100m of new financing. This is to foster the expansion of the agro-industry and accelerate solid mineral processing in Nigeria, and the goal is to see our local manufacturers thrive globally.”
Also speaking at NEF 2024, the Head of Client Relations, Anglo West Africa, AfreximBank, Mr Peter Olowononi, said the bank is one of Nigeria’s biggest financial institutions supporting energy and industrialisation.
He disclosed that the bank is also financing many of the oil and gas companies that produce gas required to fire some of the country’s generation companies (GenCos). Furthermore, Olowononi stressed Afreximbank’s drive at the forefront of lighting up Africa, industrialising Africa and ensuring its ability to improve the economies of African countries.