Nigeria stands as the foremost recipient of trade and development financing from the African Export-Import Bank (Afreximbank), having garnered a cumulative disbursement exceeding $52 billion. This revelation was made by Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, during the 2025 Annual Meeting Signing Ceremony in Abuja.
“As the largest beneficiary of our trade and development finance, Nigeria has attracted approximately $52 billion in disbursements from Afreximbank,” declared Prof. Oramah. He emphasised Nigeria’s pioneering role in several flagship transformative projects initiated by the bank.
Prof. Oramah extended his gratitude to the Nigerian government for its unwavering support, particularly in responding positively to capital calls and removing regulatory hurdles that could have impeded the bank’s operations within the country. He underscored that Nigeria’s substantial contributions have solidified its influential voice within the bank’s affairs, empowering the nation to play a pivotal role in shaping Afreximbank’s future trajectory.
Over the past decade, Afreximbank has disbursed a substantial sum of $140 billion across the African continent. These interventions have proven instrumental in bridging critical financing gaps left by the withdrawal of international banks from the continent, thereby driving economic transformation and mitigating Africa’s overreliance on commodity exports.
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Afreximbank has emerged as a key catalyst in the continent’s industrialisation efforts, transforming several African economies into prominent industrial hubs. Furthermore, the bank has played a crucial role in facilitating the implementation of the African Continental Free Trade Agreement (AfCFTA) by providing unwavering support to the AfCFTA Secretariat and fully underwriting numerous initiatives aimed at bolstering intra-African trade.
Nigeria has been a primary beneficiary of the bank’s investments in critical sectors. A prime example is the African Quality Assurance Centre, a groundbreaking initiative designed to ensure Nigerian goods meet stringent global trade standards. The inaugural centre is already operational in Kaduna, with plans underway to establish additional facilities across the African continent.
Mr. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, expressed Nigeria’s deep appreciation for the unwavering support provided by Afreximbank. “Afreximbank has generously approved tens of billions in facilities for Nigeria over the years, and we are immensely grateful for this critical support,” stated the minister.
This news directly impacts the lives of countless Nigerians. Afreximbank’s financing has supported critical infrastructure projects, facilitated trade, and fostered industrial growth, ultimately leading to job creation, economic empowerment, and improved living standards for the Nigerian people.
This news also underscores the importance of regional cooperation and collaboration in driving economic development in Africa. Afreximbank’s success in supporting Nigeria serves as a beacon of hope for other African nations, demonstrating the transformative power of intra-African trade and investment. It highlights the potential for African nations to collectively overcome economic challenges and achieve sustainable growth and development.
