Emma Ujah

The President of Africa Export-Import Bank (Afreximbank), Prof. Benedict Oramah, has disclosed that the organisation has disbursed $50 billion to execute several projects in Nigeria in the last 19 years.

He spoke at the commissioning of the Afreximbank Africa Trade Centre (AATC) in Abuja last Thursday.

His words, “Over the last decade alone, total disbursements into Nigeria amounted to about 50 billion US dollars, spreading across vital sectors of energy, infrastructural, manufacturing, healthcare, transport and financial services.

“Our support to the Nigerian financial services industry, amounting to 19 billion US dollars in the last decade, has helped to deepen and expand the sector and elevated their impact on the local economy.”

The president said that the relationship between the bank and Nigeria has been mutually beneficial.

“Over the last three decades, successive governments have accorded unflinching support to Afreximbank, responding most positively to capital calls, creating a congenial environment for its smooth operations while providing the Bank significant domestic policy support that helped to execute many of the development programmes in Nigeria,” he said.

Prof. Oramah promised to hoist the Afreximbank flag across the Atlantic by building another AATC in the Caribbean, affirming a reunion with a valued but long-neglected heritage.

We must reshape our future.

According to him, “Today, we mark the standing up of an edifice that defiantly roars: that we must reshape our future; that we can no longer be hostages to a colonial legacy deeply rooted on “divide-and-conquer” — a legacy that makes Africans regard their colonisers as masters and brothers and sisters, as enemies, and even aliens.

“Step-bystep we will, on the success of this platform, build a network of Afreximbank African Trade Centres (AATCs) that would offer strong physical institutional infrastructure for deepening connections and exchange of information among Africans and the Caribbean and indeed the wider African Diaspora.”

He said that the bank would create a sizeable network of AATCs that would act as lighthouses to guide the interconnections and flow of trade and investments within continental Africa and between the African and Caribbean regions.

The Afreximbank boss said, “This particular AATC Abuja has been a 41- month journey, one built on hope and determination. Like the other AATCs, the Abuja AATC would serve a multi-purpose goal. It will serve as a platform for fostering deeper regional and continental integration and house Afreximbank’s permanent regional office, bringing a three-decade-old aspiration to fruition.”

Also speaking, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, described the AATC as a significant initiative of Afreximbank to create a leading commercial and business centre in Africa where every trade could be easily consummated, elevating Africa’s position in global trade.

He noted that the bank has been a trusted trade partner for the Public and Private Sectors across Africa and the Caribbean.

Mr Edun added, “Afreximbank’s trade and project financing initiatives positively impact Trade and economic development across the African continent through activities centred on the Bank’s main strategic pillars.

“Across the continent, Afreximbank has demonstrated partnership and collaboration with the Public and Private sectors.

“Afreximbank has been very compassionate in providing solutions to African Trade problems.

“The serves the interests of the African continent and has continued to rigorously pursue the growth and integration of Caribbean countries to support their Trade and economic development.”

Mr. Edun commended Prof. Oramah for placing the bank among its peers as one of the most respected and valued banks on the continent, with a passion for uplifting the continent’s economy.

“Prof Oramah’s patriotism and strong support for the African Continent have proven unwavering with innovative ideas that would impact the economy and livelihood of Africa, including Nigeria.

“The AATC and other laudable projects of the Bank in Abuja will convert the administrative capital of the Federal Capital Territory into a major service hub for the West African Region and the continent at large,” he said.

In a message, President Bola Tinubu pledged to create a conducive business environment for both brown and green field investments to thrive in the country.

In the message delivered by the Secretary to the Government of the Federation (SGF), Sen. George Akume, the president also assured that the government would continue to support the bank in order to achieve its mandates.

Vanguard News