A sum of $52bn obtained from Afreximbank, largest in Africa
The President of Afeximbank, Prof. Benedict Oramah
A sum of $52bn obtained from Afreximbank, largest in Africa
Nigeria has acquired a cumulative disbursement of approximately $52bn from the African Export-Import Bank, making it the largest beneficiary of the bank’s trade and development financing across Africa.
The President and Chairman of the Board of Directors of Afreximbank, Prof Benedict Oramah, said this on Tuesday at the Afreximbank Annual Meetings 2025 Signing Ceremony in Abuja.
Oramah said, “Being the largest recipient of the bank’s trade and development finance, Nigeria has attracted a cumulative disbursement of about $52bn from Afreximbank. Nigeria is the first beneficiary of a number of flagship transformative projects that the bank is piloting.”
He expressed gratitude to the Nigerian government for its continued support of the bank, particularly in responding positively to capital calls and removing regulatory hurdles that could have affected the bank’s operations in the country.
He noted that Nigeria’s contributions had ensured its strong voice in the bank’s affairs, allowing it to play a critical role in shaping Afreximbank’s future.
He stated that over the past decade, Afreximbank had disbursed no less than $140bn across Africa.
These interventions, he explained, had helped bridge financing gaps left by the retreat of international banks from the continent, driving economic transformation and reducing Africa’s dependence on commodity exports.
A sum of $52bn obtained from Afreximbank, largest in Africa.
He said Afreximbank had played a key role in industrialising the continent, turning several African economies into major industrial hubs.
Oramah pointed out that the bank’s interventions had facilitated the implementation of the African Continental Free Trade Agreement by supporting the AfCFTA Secretariat and fully underwriting several initiatives aimed at boosting intra-African trade.
He stated that Nigeria had been a major recipient of the bank’s investments in critical sectors.
Among the key initiatives he highlighted was the African Quality Assurance Centre, developed to help ensure Nigerian goods meet global trade standards.
He said the first centre was already operational in Kaduna, with additional facilities being planned across the continent.
On his part, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said that Nigeria appreciates the support the country gets from Afreximbank.
“Afreximbank has approved tens of billions in facilities to Nigeria over the years, and of course, we are grateful for that,” the minister said.
