Nigeria has emerged as the largest beneficiary of the African Export-Import Bank (Afreximbank), receiving an estimated $52 billion in trade and development financing. This monumental milestone underscores Nigeria’s central role in Afreximbank’s operations across Africa, as announced during the Afreximbank Annual Meetings 2025 Signing Ceremony in Abuja.
Afreximbank’s President and Chairman, Prof. Benedict Oramah, disclosed this achievement on Tuesday, commending Nigeria for its unwavering support of the bank’s initiatives. The country has been the first recipient of several flagship transformative projects, solidifying its place as a pivotal player in shaping the future of trade and development in Africa.
Over the last decade, Afreximbank has disbursed over $140 billion across Africa, addressing financing gaps left by international banks’ retreat from the continent. This funding has been crucial in fostering industrialization, reducing dependency on commodity exports, and driving economic transformation across the continent.
Prof. Oramah highlighted Nigeria’s role in key Afreximbank-led initiatives, including the establishment of the African Quality Assurance Centre in Ogun State and the upcoming Africa Trade Centre in Abuja. Additionally, Nigeria has benefited from the bank’s investments in the energy and healthcare sectors, including the establishment of the African Medical Centre of Excellence in Abuja and support for major refinery projects such as the Dangote Refinery.
“We are committed to enhancing Africa’s energy security and driving industrial transformation,” Oramah stated. Afreximbank has also supported Nigeria’s emergence as Africa’s top fertilizer producer, helping the country to scale its annual production to 7.5 million metric tons.
The bank’s investments extend to Nigeria’s vibrant creative industry, fostering credit access, market expansion, and capacity building. Nigeria is also set to host the 32nd Afreximbank Annual Meetings in June 2025, a key event expected to attract thousands of delegates and further solidify the country’s position as a major player in African trade and economic integration.
In addition, Nigeria’s Finance Minister, Wale Edun, praised Afreximbank’s contribution to Nigeria’s economic development, emphasizing the strong partnership between the bank and the Nigerian government. He also welcomed the upcoming Afreximbank Annual Meetings as a significant event for the future of trade finance in Africa.
With these investments and the growing partnership, Nigeria is poised to continue its path towards economic growth, innovation, and industrialization.
