The President of the African Export-Import Bank (Afreximbank), Prof. Benedict Oramah, has said that the bank has disbursed about $50 billion into the Nigerian economy over the past ten years. He made this known on Thursday, April 11, 2025, during the commissioning of the Afreximbank Africa Trade Centre (AATC) in Abuja.
Prof. Oramah explained that the funds were invested in important sectors like energy, manufacturing, healthcare, transport, and financial services. Out of the total amount, $19 billion went into the financial services sector, helping to boost Nigeria’s economic growth.
The AATC Abuja, which cost $120 million, is the first of its kind and was completed within 41 months. According to Oramah, the centre is part of a bigger plan to create similar trade hubs across Africa and the Caribbean to support regional integration and promote intra-African trade.
“This centre will help connect African and Caribbean businesses through a digital platform. It will serve as a base for trade, technology, and small business support,” he said.
Services offered at the new trade centre include a technology incubation hub, SME support facility, a Digital Africa Trade Gateway, and spaces for exhibitions and conferences.
Oramah added that Afreximbank is also investing in a $750 million African Medical Centre of Excellence in Abuja, in partnership with King’s College Hospital, London. This hospital will focus on cancer, heart, and blood-related treatments. The bank is also building quality assurance centres in Ogun, Kaduna, and Imo States to improve the quality of Nigerian agricultural exports.
He highlighted a $200 million fund recently opened to support Nigeria’s creative sector, creating more jobs for young people and women.
The President of Nigeria, Bola Tinubu, represented by the Secretary to the Government of the Federation, George Akume, praised the initiative and said the Federal Government supports the AATC and its focus on job creation, economic growth, and empowering women-led businesses.
Tinubu also confirmed Nigeria’s full support for digital transformation and intra-African trade, while thanking Afreximbank for their efforts.
The Minister of Trade and Investment, Dr Jumoke Oduwole, also spoke at the event. She described the centre as a major step in helping Africa take charge of its own trade. She said over $52 billion has been disbursed by the bank into Nigeria in the last decade and praised its support for SMEs and women-led businesses.
Finance Minister and Coordinating Minister of the Economy, Wale Edun, also commended Afreximbank’s contributions. He pointed out that projects like the Pan-African Payment and Settlement System are helping financial integration and trade across Africa. He reassured the bank of Nigeria’s continuous support.
Prof. Oramah invited stakeholders to the bank’s 32nd Annual Meetings, which will be hosted in Nigeria in June 2025. He also announced that the next AATC will be opened in Harare, Zimbabwe, in August 2025, with others coming up in Uganda, Egypt, and Cameroon.
