Afreximbank Disburses $50bn in Nigeria Over 10 Years – Oramah
The President and Chairman of the Board of Directors of Afreximbank, Prof. Benedict Oramah, has revealed that the bank has disbursed a total of $50 billion to Nigeria over the past decade, supporting critical sectors such as energy, manufacturing, healthcare, transport, and financial services.
Oramah made this disclosure on Thursday during the commissioning of the Afreximbank Africa Trade Centre (AATC) in Abuja. According to him, $19 billion of the total investment was channelled into Nigeria’s financial services sector alone, contributing to its rapid growth.
“Over the last decade alone, total disbursements into Nigeria amounted to about $50bn, spreading across vital sectors of energy, infrastructure, manufacturing, healthcare, transport, and financial services,” Oramah said.
The AATC Abuja, the first of its kind in Africa, is a $120 million facility completed within 41 months. It forms part of Afreximbank’s vision to establish a network of trade centres across Africa and the Caribbean aimed at promoting regional integration and enhancing trade connectivity.
“This centre will act as a lighthouse for interconnections, providing a digital gateway that will enable businesses across Africa and the Caribbean to connect, collaborate, and trade,” Oramah stated.
The AATC will host a suite of services, including a technology incubation hub, an SME incubation facility, a Digital Africa Trade Gateway, and spaces for conferences and exhibitions. Oramah described the centre as a strategic tool to deepen Nigeria’s participation in the African Continental Free Trade Area (AfCFTA).
Looking ahead, the Afreximbank President announced that the next AATC will be launched in Harare, Zimbabwe, in August 2025, with additional centres planned for Uganda, Egypt, and Cameroon.
He also highlighted other ongoing projects in Nigeria, including the African Medical Centre of Excellence in Abuja – a $750 million state-of-the-art hospital being developed in collaboration with King’s College Hospital, London. The hospital will specialise in oncology, cardiology, and haematology.
In addition, the bank is backing the African Quality Assurance Centre in Ogun State to bolster Nigeria’s export capabilities in agricultural and value-added goods. Similar projects are underway in Kaduna and Imo States.
Oramah further noted Afreximbank’s support for Nigeria’s creative industry, announcing a $200 million facility to empower youth and women while boosting creative content exports across Africa and beyond.
He extended appreciation to President Bola Tinubu and the Nigerian government for their support and invited stakeholders to attend the bank’s 32nd Annual Meetings scheduled for June 2025 in Nigeria.
Representing the President at the commissioning, Secretary to the Government of the Federation, George Akume, affirmed the Federal Government’s support for the trade centre. He said the initiative aligns with the government’s agenda of job creation, economic diversification, and SME empowerment.
Also speaking at the event, Minister of Trade and Investment, Dr Jumoke Oduwole, lauded Afreximbank’s impactful interventions in Nigeria, stating that over $52 billion had been disbursed by the bank in the last decade.
“The AATC is a critical step toward helping Africa take greater ownership of its trade narrative,” Oduwole said, emphasizing the benefits for SMEs, women-led enterprises, and young entrepreneurs.
On his part, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, hailed the centre as a catalyst for economic transformation and trade facilitation. He praised the leadership of Prof. Oramah and pledged continued government support for Afreximbank’s initiatives.
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Afreximbank Disburses $50bn in Nigeria Over 10 Years – Oramah