By Fatima Musa Sambo
The AFRIEXIM Bank is set to launch an energy bank later this year with a substantial capital base of $5 billion, aimed at bolstering energy investments and security across Africa. However, the announcement has sparked a fierce diplomatic tussle between Nigeria and Ghana, each vying to host the headquarters of this new institution.
Ghana asserts that it is the most prepared to host the headquarters, with lobbying efforts reportedly at an advanced stage. Some sources even suggest that Ghana is currently the frontrunner in this competition.
Nigeria, on the other hand, is leveraging its status as Africa’s largest oil producer and its regional influence. The country argues that having conceded the headquarters of the African Petroleum Producers Organization (APPO) to the Democratic Republic of Congo during President Muhammadu Buhari's tenure, it is now their turn to host the AFRIEXIM Energy Bank. Furthermore, Nigeria already hosts a regional maritime development bank, suggesting that adding another major financial institution to its portfolio would be beneficial.
This contest between two of West Africa’s leading nations highlights the intense diplomatic efforts both countries are willing to undertake to secure the headquarters. With national pride and significant economic benefits at stake, the outcome of this tussle remains to be seen.
May Nigeria’s efforts prove successful. Amen.
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