The Federal Government in collaboration with other members of the Economic Community of West African States are planning to set up the Africa Energy Bank to cater to crude oil exploration activities in the region.
Outgoing President, of the Nigerian Association of Petroleum Explorationists, Elliot Ibie, says the energy bank would be funded by ECOWAS members and other banks, of which he did not mention their names, to boost oil and gas production in the region.
He says the Federal Government and investors are truly worried about the dwindling crude oil production in the country, and that is why ECOWAS is now planning to boost production through the energy bank that is currently being set up.