WorldStage Newsonline– The Federal Government of Nigeria and African Export-Import Bank (Afreximbank) has signed the Agreement for Nigeria to host the 32nd Afreximbank Annual Meetings (AAM).
The country’s successful hosting of Afreximbank’s 25th anniversary in 2018, which attracted no fewer than 3,000 participants.
Speaking at the Afreximbank Annual Meetings 2025 Signing Ceremony in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said that President Bola Tinubu approved the hosting.
“We are, therefore, delighted to work with Afreximbank management and give them our full support,” Edun said.
He commended Afreximbank’s commitment to supporting Africa and Nigeria’s economic growth and improving their healthcare infrastructure in particular.
” We are all aware of the range of innovative financing programmes and solutions offered by Afreximbank over the years.
” It is indeed a factory of financial innovation, imagination, creativity and delivery and I think in the financial sector that is the most important.
” The president of Afreximbank has positioned the bank among its peers as one of the most respected and valued banks in the continent with a passion for uplifting the continent’s economy.
” Under the leadership of Afreximbank president, they have significantly contributed to the country’s development in key projects. Nigeria appreciates the support the country gets from Afreximbank,” the minister said.
Edun noted that one of the bank’s initiatives, the African Medical Centre of Excellence (AMCE) in Abuja, would reduce medical tourism.
The medical centre, which will commence operations soon, will provide comprehensive healthcare services, and address healthcare capacity gaps in the country and West Africa, he said.
Prof. Benedict Oramah, the President and Chairman of the Board of Directors of Afreximbank, described the upcoming 32nd Afreximbank Annual Meetings, scheduled to take place in Abuja in June, as a landmark event for the bank and the continent.
” The meetings will provide an opportunity to reflect on Africa’s economic progress over the past three decades and discuss strategies for the future.
” The discussions will focus on navigating economic challenges, including geopolitical tensions, global trade shifts, and Africa’s place in an increasingly protectionist global economy.
” The meetings will also mark a transition in the bank’s leadership, as he prepared to step down after 31 years of service and ten years as president.
” I am confident that the event will produce a strong successor to lead the bank into the future,” he said.
Oramah commended Nigeria for its track record in hosting major international events, recalling the country’s successful hosting of Afreximbank’s 25th anniversary in 2018, which attracted no fewer than 3,000 participants.
The president said that the upcoming event was expected to draw between 5,000 and 6,000 delegates from across Africa, Caribbean, Americas, Europe, and Asia.
Oramah commended President Bola Tinubu and the Nigerian government for their commitment to ensuring the success of the meetings and reiterated Afreximbank’s dedication to supporting Nigeria’s economic development.
Listing some of the bank’s engagements with the country, he said that Nigeria had received a cumulative disbursement of approximately 52 billion dollars from the Afreximbank.
He said that was the largest beneficiary of the bank’s trade and development financing across Africa.
“Being the largest recipient of the bank’s trade and development finance, Nigeria has attracted a cumulative disbursement of about 52 billion dollars from Afreximbank.
” Nigeria is the first beneficiary of a number of flagship transformative project that the bank is piloting,” Oramah said.
He said that the country’s contributions had ensured its strong voice in the bank’s affairs, allowing it to play a critical role in shaping Afreximbank’s future.
Oramah said that over the past decade, Afreximbank had disbursed no less than 140 billion dollars across Africa.
He said that the interventions 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.
Oramah said that Afreximbank had played a key role in industrialising the continent, turning several African economies into major industrial hubs.
He said that the bank’s interventions had facilitated the implementation of the African Continental Free Trade Agreement (AfCFTA) aimed at boosting intra-African trade.
He said that the country had been a major recipient of the bank’s investments in critical sectors.
According to Oramah, one of the key initiatives of the bank is the African Quality Assurance Centre, developed to help ensure Nigerian goods meet global trade standards.
He said that Afreximbank had also developed the Africa Trade Centre in Abuja, which would be inaugurated on April 10.
Also, the president said that the bank had made significant contributions to Nigeria’s healthcare sector, including the African Medical Centre of Excellence in Abuja, which is set to open on June 5.
” The centre, which will not only serve as a hospital but also as a centre of research into neglected diseases affecting people of African descent, is expected to position Nigeria as a medical tourism hub.”
Oramah said Afreximbank had also played a key role in supporting Nigeria’s energy and industrial transformation.
He said that the bank had invested heavily in boosting Nigeria’s refining capacity, supporting projects such as the Dangote Refinery and the Port Harcourt Refinery.
Oramah said that these investments were part of a broader strategy to ensure that the Gulf of Guinea becomes a major refining hub, reducing Africa’s dependence on petroleum imports.
He said that as part of broader efforts to strengthen Africa’s energy security, the Afreximbank would support the establishment of an Africa Energy Bank in Abuja.
He said that the bank had also supported Nigeria’s fertiliser production, enabling the country to emerge as the continent’s leading producer, with an annual output of 7.5 million metric tonnes.
The president said that the bank was also supporting Nigeria’s creative industry through credit facilities, capacity building, and market access initiatives, aimed at expanding the country’s cultural exports.
Oramah commended 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.
