Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said that the African Export-Import Bank (Afreximbank) has provided over $50 billion in financing to Nigeria for major projects.
Speaking at the 32nd Afreximbank Annual Meetings 2025 in Abuja, Edun highlighted the significant role Afreximbank has played in Nigeria’s economic transformation.
“Development financing by Afreximbank to Nigeria had exceeded 50 billion dollars,” he said.
Key Initiatives and Projects
Afreximbank’s financing has supported various initiatives. These include
- African Trade Centre: A $120 million facility in Abuja designed to promote intra-African trade and investment
- African Medical Centre of Excellence: A $750 million state-of-the-art medical facility in Abuja specializing in oncology, cardiology, and hematology
- Private Sector and SMEs: Afreximbank has provided support to the private sector and Small and Medium-Scale Enterprises (SMEs) in Nigeria
Commitment to Afreximbank
Edun emphasized Nigeria’s commitment to supporting Afreximbank through capitalization, regulation, and partnership.
He urged other member countries to follow suit, ensuring Afreximbank remains a strong, stable, and impactful institution.
“Our generation must be remembered as builders of a united, prosperous Africa. The time is now. Let us be a bridge to the future, to share wealth, deeper cooperation, and enduring peace,” Edun stated.
Afreximbank’s Impact
Edun celebrated Prof. Benedict Oramah’s strategic leadership and dedication to Africa’s prosperity, noting that his tenure as President and Chairman of Afreximbank has been marked by significant achievements in promoting African trade and economic integration.
“This is his last AGM as President and leader of Afreximbank. We congratulate you and welcome you to this celebration of you and what you have achieved,” Edun said.
What You Should Know
- Afreximbank has been instrumental in promoting African trade and economic integration.
- Initiatives such as the Pan-African Payment System, African Free Trade Area Adjustment System, Transit Guarantee System, and Annual International Trade Fair have been crucial in fostering economic cooperation among African nations.
