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.