Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed that the African Export-Import Bank (Afreximbank) has disbursed over $50 billion in financing to Nigeria for key developmental projects.
Speaking at the 32nd Annual Meetings of Afreximbank held in Abuja, Edun underscored the pivotal role the bank has played in supporting Nigeria’s economic transformation and infrastructure development.
“Development financing by Afreximbank to Nigeria has exceeded $50 billion,” he stated.
Key Projects Backed by Afreximbank
The minister outlined several major initiatives supported by the bank, including:
- African Trade Centre: A $120 million facility in Abuja aimed at boosting intra-African trade and investment.
- African Medical Centre of Excellence: A cutting-edge $750 million hospital in Abuja specializing in oncology, cardiology, and hematology.
- Support for SMEs: Funding and technical support provided to Nigeria’s private sector and Small and Medium Enterprises (SMEs).
Nigeria’s Commitment to Afreximbank
Edun reiterated Nigeria’s continued support for Afreximbank, noting the country’s contributions in capitalization, regulatory cooperation, and strategic partnership. He called on other member states to strengthen their commitment as well.
“Our generation must be remembered as builders of a united, prosperous Africa. The time is now. Let us be the bridge to the future, sharing wealth, deepening cooperation, and fostering lasting peace,” he urged.
Commending Leadership and Vision
The minister praised Prof. Benedict Oramah, outgoing President and Chairman of Afreximbank, for his visionary leadership and dedication to Africa’s growth. He noted that the 2025 AGM marked Oramah’s final appearance in that role.
“We celebrate your achievements and welcome this moment as a tribute to your service,” Edun said.
Afreximbank’s Broader Impact
Under Oramah’s leadership, Afreximbank has championed several key initiatives that promote regional integration and trade, including:
- The Pan-African Payment and Settlement System
- The African Continental Free Trade Area Adjustment Facility
- The Transit Guarantee System
- The Annual Intra-African Trade Fair
These efforts, Edun noted, have been instrumental in strengthening economic ties across the continent and advancing the vision of a more integrated and prosperous Africa.
