By Emmanuel Nduka
Heritage Times HT had reported that Nigerian Government is pushing for the country to become the headquarters of the Africa Energy Bank (AEB).
The country is now set to launch an initial capital of $5bn, aimed at expanding its asset base to $120bn within four years.
Disclosing this recently during the plenary session of the Nigerian Bar Association’s Law Week in Yenagoa, Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources (Oil) argued that fossil fuels remain essential, noting that developed countries continue to issue licenses for fossil fuel production while advising against their use in developing nations.
An asset base is the underlying value of assets that constitute the basis for the valuation of a firm, loan, or derivative security.
The session, themed “The Legal Profession in a Time of Socio-Economic Uncertainty,” provided a platform for legal experts to discuss and propose solutions to the public’s declining trust in the judiciary and legal profession.
Former Nigerian President, Goodluck Jonathan who was represented by the Ola-Ebu of Aburemi clan, King Collins Daniels, emphasised the session as a moment for reflection on governance issues and the need for reform.
The keynote speaker provided recommendations for the legal profession’s resilience in these challenging times.
