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Nigeria gets $52bn as Afrexinbank’s biggest beneficiary

Published

3 months ago

February 12, 2025

Nigeria has received approximately $52 billion in trade and development financing from the African Export-Import Bank (Afreximbank), making it the bank’s largest beneficiary across Africa.

The President and Chairman of the Board of Directors of Afreximbank, Prof. Benedict Oramah, disclosed this on Tuesday during the Afreximbank Annual Meetings 2025 Signing Ceremony in Abuja.

He noted Nigeria’s central role in the bank’s financing activities, stating that the country has been the first beneficiary of several flagship transformative projects led by Afreximbank.

Oramah acknowledged the Nigerian government’s consistent support, particularly in responding positively to capital calls and eliminating regulatory obstacles that could have hindered the bank’s operations. He noted that Nigeria’s contributions have ensured its strong voice in the bank’s affairs, allowing it to play a crucial role in shaping Afreximbank’s future.

He further revealed that over the past decade, Afreximbank has disbursed no less than $140 billion across Africa. These interventions, he explained, have helped bridge financing gaps caused by the withdrawal of international banks from the continent, driving economic transformation and reducing Africa’s dependence on commodity exports.

Oramah pointed out Afreximbank’s key role in industrialising Africa, transforming several economies into major industrial hubs. He also noted the bank’s contributions to implementing the African Continental Free Trade Agreement (AfCFTA) by supporting the AfCFTA Secretariat and financing initiatives aimed at boosting intra-African trade.

Nigeria, he said, has been a major recipient of the bank’s investments in critical sectors. Among the key projects he highlighted was the African Quality Assurance Centre, designed to ensure Nigerian goods meet global trade standards. The first of such centres is already operational in Ogun state, with plans for additional facilities across the continent.

Another significant investment is the Africa Trade Centre in Abuja, scheduled for inauguration on April 10. The facility, located in the heart of the capital Abuja, consists of two towers featuring a hotel, conference centre, technology hub, exhibition space, and a trade information centre.

Afreximbank has also contributed significantly to Nigeria’s healthcare sector, particularly with the establishment of the African Medical Centre of Excellence in Abuja, set to open on June 5. This centre is expected to serve as both a hospital and a research hub for neglected diseases affecting people of African descent, positioning Nigeria as a key destination for medical tourism.

In the energy sector, Oramah highlighted Afreximbank’s role in supporting Nigeria’s industrial transformation. The bank has made substantial investments to boost Nigeria’s refining capacity, backing projects such as the Dangote Refinery and the Port Harcourt Refinery. These investments align with a broader strategy to establish the Gulf of Guinea as a major refining hub and reduce Africa’s dependence on imported petroleum products.

As part of efforts to strengthen Africa’s energy security, Afreximbank is also supporting the establishment of an Africa Energy Bank in Abuja, with an initial capital of $5 billion, including a $1.25 billion commitment from Afreximbank itself.

Oramah further noted that the bank has played a crucial role in enhancing Nigeria’s fertiliser production, enabling the country to emerge as Africa’s leading producer with an annual output of 7.5 million metric tonnes.

In addition to industrial and energy investments, Afreximbank has been actively supporting Nigeria’s creative industry through credit facilities, capacity-building initiatives, and market access programs aimed at expanding the country’s cultural exports.

Looking ahead, Oramah described the upcoming 32nd Afreximbank Annual Meetings, scheduled to take place in Abuja in June, as a landmark event. He explained that the meetings would.

Speaking earlier, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed that Nigeria has been selected to host the 32nd Annual Meetings of the African Export-Import Bank (Afreximbank) from June 23 to 27, 2025.

Edun described the opportunity as a testament to Afreximbank’s confidence in Nigeria under the leadership of President Bola Ahmed Tinubu. He highlighted Nigeria’s strong partnership with the bank, which has approved tens of billions of dollars in financial facilities for the country over the years.

The minister praised Afreximbank’s role in driving economic growth and financial innovation across Africa. He commended its president, Prof. Benedict Oramah, for leading the bank with creativity and vision, noting that this would be his final AGM as chairman of the board after a decade of service.

He also acknowledged Afreximbank’s contributions to Nigeria’s economic development, citing key projects such as the African Quality Assurance Centre in Ogun State, which enhances product safety for exports, and the soon-to-open African Medical Centre of Excellence in Abuja, which aims to reduce medical tourism.

Edun welcomed the upcoming meetings, which are expected to attract around 5,000 delegates from across Africa and beyond. He expressed Nigeria’s readiness to provide a conducive environment for discussions that would shape the future of trade finance and economic integration on the continent.

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A Chat with Janet Odio Okolo: A Mother’s Journey Raising a Child with Down Syndrome

Published

3 hours ago

April 30, 2025

Gloria Ikibah

Down syndrome: It’s a congenital condition characterized by a distinctive pattern of physical characteristics including a flattened skull, pronounced folds of skin in the inner corners of the eyes, large tongue, and short stature, and by some degree of limitation of intellectual ability and social and practical skills. It usually arises from a defect involving chromosome. Above definition succinctly describes what Janet Odio Okolo had to go through to sustain her daughter. In this chat she narrated her experience to naijablitznews Associate Editor, Gloria Ikibah, excerpts.

Tell us a bit about yourself and what you do?

My name is Janet Odio Okolo. I often introduce myself as a proud mother of a 13-year-old girl, Isioma, who lives with Down syndrome. I call her my “star girl.”

Professionally, I’m into catering and equipment rentals. I provide catering equipment like plates, cutlery, chafing dishes, and more to other caterers. Alongside that, I run a few side businesses to support my family.

What has been the most rewarding part of raising a child with Down syndrome? And how has it impacted your life and perspective?

Raising Isioma has helped me discover parts of myself I didn’t know existed—patience, empathy, selflessness.

She has taught me to see people beyond the surface, to understand others deeply and kindly. These qualities have added great value to my life and relationships. It’s been a journey of self-discovery, and I am better for it.

There are often different perceptions about Down syndrome. What’s yours?

I had prior knowledge about Down syndrome before Isioma was born, so it wasn’t a total shock. People have different opinions—some based on facts, others rooted in myths.

But for me, Isioma is God’s creation. I didn’t create her, but she came into my life with purpose. I embraced her fully, and that acceptance has made the journey smoother.

Can you share a particular challenge you’ve faced raising Isioma and how you overcame it?

There are challenges, no doubt, but I’ve chosen to see them as opportunities for growth. One that stands out is watching her peers, cousins, friends progress faster. At 2 or 3 years old, they were on the same level, but over time, many of them moved ahead academically and developmentally.

It used to bother me. Some of them are now in secondary school or boarding houses, while Isioma is still in primary school. But I remind myself that every child moves at their own pace. With the right support, Isioma will get there, and she’s already doing very well.

How do you think society can better support and include individuals with Down syndrome?

Support must go beyond the family, it must come from the entire society. These children live in communities, go to school, attend church, and access healthcare.

In schools, there should be inclusive programs tailored to their pace. Let them participate in games, cultural days, and other activities. Don’t exclude them because they “can’t dance” or “can’t sing.” Involve them.

In the neighbourhood, encourage inclusion during play. For instance, a friend told me her son who also has Down syndrome is often excluded from football because he scores own goals. But I say: be patient, teach him the rules, guide him. That’s what inclusion looks like.

In churches, let’s involve them in prayers, praise, and worship. Make them feel seen and valued.

Hospitals should be more patient and friendly with these children. That environment should make them feel safe and open.

And for family members and friends support can be as simple as offering to look after the child for a weekend so the parent can rest. That kind of emotional and practical support goes a long way.

What are your hopes and dreams for Isioma? What steps are you taking to help her achieve them?

Oh, I have big dreams for her! And she has dreams too. For example, Isioma loves the runway, she loves to strut like a model.

So, I’m investing in that. I got her a coach to help her build on this interest. My goal is for her to be independent one day, to earn a living through something she enjoys.

Parents need to pay attention, observe what their children love, then build on it. Some want to bake, sing, sew, or dance. Equip them with skills. That’s what I’m doing with Isioma. Even if I’m not around tomorrow, I want her to be confident and self-sufficient.

What advice would you give to parents who’ve just received a Down syndrome diagnosis for their child?

The first step is acceptance. Don’t live in denial. Don’t say, “God forbid” or “I reject it.” That only delays the journey to support.

I remember when Isioma was about six months old, I took her to a popular hospital. The pediatrician just looked at her and bluntly said, “This child has Down syndrome.” She didn’t offer any emotional support, she just dismissed me. That experience hurts.

But instead of giving up, I started researching. I saw a lot online that was scary and discouraging, so I decided to create my own path for her.

To new parents: it’s not a death sentence. With love, care, and professional support, your child can thrive. Don’t fall for superstitions, stigmatization, or spiritual manipulation. Focus on solutions. Be your child’s biggest cheerleader, and others will follow your lead.

How supportive are your other children?

They’re very supportive, although due to age differences and school schedules, they weren’t always around. But whenever they’re home, they show her so much love. They treat her like their little queen. The bond is strong, even in limited time.

What are your expectations from the government and society at large?

There are government policies for people with special needs, but the problem is implementation. These policies often remain on paper.

We need action. Especially in healthcare, many of these children have underlying conditions that require consistent medical attention. Parents, especially indigent ones, can’t always afford this.

Recently, I saw a young girl with Down syndrome at a fish market, begging. She looked unkempt. I was with Isioma, and people noticed the connection. I tried to reach out to the girl’s mother to offer help even if not financial, at least advice and direction.

Children like that are vulnerable to abuse, exploitation, and neglect. We need the government to provide safe spaces, education, healthcare, and skills training, especially for families who can’t afford it.

Finally, any last words to society about children with Down syndrome?

They are not a mistake. They are not a burden. They are people with potential just like every other child.

Let’s remove the stigma. Let’s embrace inclusion. Let’s create a world where they are seen, heard, and loved for who they are.

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Hon. Nnamchi Begins Street Lights Deployment In Isi Uzo(Photos)

Published

3 hours ago

April 30, 2025

ADMIN

Honourable Paul Sunday Nnamchi, representing Enugu East/Isi Uzo Federal Constituency in the 10th House of Representatives, has fulfilled his promise to illuminate communities in Isi Uzo Local Government Area.

The lawmaker has just begun the deployment of high-density solar-powered street lights in Ikem Nkwo, marking the beginning of a massive rollout of the street lamps across the communities in Isi Uzo.

This initiative, which started in Enugu East Local Government Area in 2024, aims to support the fight against insecurity in the state which according to him was to add to what Chief Security Officer of Enugu State Barrister Peter Mba had done to secure the state to attracts foreign investments.

The lawmaker expressed concern over banditry attacks, particularly by herdsmen, in some communities within Isi Uzo and Enugu East Local Government Areas in the recent pasts.

He believes that illuminating these areas with high-density street lights would help address the insecurity adding that he was prioritizing border and farming communities in Isi Uzo, where banditry has displaced residents and restricted farming activities.

Communities in Ikem, Eha-Amufu in Isi Uzo which borders Enugu and Benue State and Ugwogo-Nike in Enugu East have been vulnerable to these attacks due to their strategic locations.

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May Day: Kalu Hails Workers, Applauds Their Role in Nation Building

Published

4 hours ago

April 30, 2025

Gloria Ikibah

By Gloria Ikibah

Deputy Speaker of the House of Representatives, Rep. Benjamin Kalu, has extended warm wishes to Nigerian workers as the country marks the 2025 edition of International Workers’ Day.

Kalu praised workers across various sectors for their commitment and resilience, describing them as the engine that keeps the nation moving. He acknowledged their sacrifices and unrelenting drive, especially during tough economic times.

In his message, he highlighted the efforts of the current administration under President Bola Tinubu to improve the welfare of public servants. He referenced the National Assembly’s prompt backing of the new minimum wage as a sign of the government’s seriousness about workers’ wellbeing.

The Deputy Speaker appealed for continued patience and understanding from Nigerians, noting that the ongoing economic reforms, while challenging, are designed to bring long-term relief and prosperity.

Kalu also called for unity, and said the country can only overcome its present difficulties if citizens and leaders work together in good faith.

He therefore urged workers to keep the faith and remain steadfast in their duties, assuring them that brighter days are on the horizon, and wished Nigerian workers a peaceful and fulfilling May Day celebration.