Nigeria Received $52bn from Afreximbank in 10 Years – Oramah

• Nigeria has received $52 billion from Afreximbank in the last decade, making it the highest recipient of intervention funds
• The Afreximbank Africa Trade Center will be inaugurated on April 10, 2025, enhancing Nigeria’s role in regional trade

The President of the Africa Export-Import Bank (Afreximbank), Prof. Benedict Oramah, has revealed that Nigeria is the highest recipient of intervention funds from the bank, receiving $52 billion in the last decade.

Prof. Oramah made this disclosure in Abuja on Tuesday during the signing of the Host Agreement between Nigeria and the bank ahead of its annual general meeting scheduled for June 2025.

He stated, “Nigeria is the largest recipient of disbursements from Afreximbank, receiving $52 billion out of the $140 billion disbursed across the continent in the last 10 years.

“Nigeria is also among the first beneficiaries of our transformative projects, including the African Quality Assurance Center launched in Ogun State. Additionally, we have commenced work in Kaduna and Imo States.”

Discussing other development projects in Nigeria, he announced that the Afreximbank Africa Trade Center, the first of its kind on the continent, will be inaugurated on April 10, 2025.

Furthermore, the African Medical Center for Excellence, estimated to cost $750 million, will be opened on June 5, 2025. It aims to make Abuja a medical tourism hub with a medical school and a disease research center.

“Afreximbank has also provided funding for a 1.2 million barrels per day refining capacity in Dangote, BUA, and Port Harcourt refineries as part of our strategic plan to make the Gulf of Guinea a major refining hub,” he added.

Prof. Oramah revealed that the theme for this year’s meeting will be ‘Building the Future in Decades of Resilience,’ with about 6,000 delegates, including industry leaders and heads of government, expected to participate.

In his remarks, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced that President Bola Tinubu had approved Nigeria to host Afreximbank’s 2025 annual meeting in Abuja.

Reflecting on the bank’s contributions to Nigeria, the minister emphasized that Afreximbank has played a key role in developing vital sectors, including oil and gas, agriculture, the creative industry, and healthcare. He added that this year’s meeting would be pivotal in consolidating these achievements.