Oil Producers Bank on Kachikwu for $1bn Investment Fund - THISDAYLIVE

Africa’s oil producers will be looking up to Nigeria’s Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to help them attract as much as $1 billion they intend to invest in building energy infrastructure across the continent.

Nigeria has held the presidency of APPO for three years out of the four years of President Muhammadu Buhari’s administration, with the only gap being when Chad led the organisation in 2017. It explained that in addition to reforming APPO, Kachikwu was also mandated to reform and recapitalise the Cotonou-based APPO Fund for Technical Development, adding that he submitted far-reaching proposals to the ministerial council in this regards and it was approved for implementation.

“This recent reelection will see Dr. Kachikwu complete the ongoing reforms that will emplace APPO towards leaving a lasting legacy that will ensure that Africans benefit from the continent’s hydrocarbon resources,” said the statement.

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