The President of the Nigerian Association of Petroleum Explorationists, NAPE, Mrs. Patricia Ochogbu, has called for the establishment of Energy Bank in Nigeria. Speaking to journalists in Lagos, Ochogbu said an energy bank would give oil and gas industry players better access to funding, which could help indigenous players in the industry achieve capacity development. According to her, an energy bank will bring lower interest rates, which would ensure better opportunities for industry players in terms of access to cheaper funding and ensure they are able to successfully execute various projects calling for attention in the industry. Citing the example of an industry operator, First E&P, which, she said, worked for almost eight years before it was able to sell its first oil, the NAPE president
noted that if the government had been able to establish an energy bank, the company and others operating in the sector wouldn’t have to go through so many troubles before selling first oil.
Source: https://sweetcrudereports.com/nape-calls-for-establishment-of-energy-bank-in-nigeria/