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In a major stride toward deepening Nigeria’s economic transformation, the African Export-Import Bank (Afreximbank) has disbursed over $50 billion into the Nigerian economy over the past decade, bolstering strategic sectors such as energy, infrastructure, manufacturing, healthcare, transportation, and financial services.
This milestone was announced by Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, during the official commissioning of the Africa Trade Centre (AATC) in Abuja. He emphasized that this substantial investment reflects Afreximbank’s commitment to driving sustainable development and promoting economic resilience in Nigeria.
Of the total investment, $19 billion was channeled into Nigeria’s financial services sector—underscoring the bank’s pivotal role in supporting regulatory compliance, financial innovation, and sectoral stability. “These disbursements are critical in accelerating non-oil sector growth and enhancing Nigeria’s economic diversification agenda,” Oramah stated.
The newly commissioned AATC Abuja is a cornerstone of Afreximbank’s vision to establish a network of trade centres across Africa and the Caribbean. The $120 million facility, constructed over 41 months, is designed to advance intra-African trade, regional integration, and digital connectivity.
Oramah described the trade centre as a digital and physical hub that will serve as a catalyst for intra-African commerce. “This facility will be a digital gateway and collaboration space for businesses across Africa and the Caribbean, promoting compliance management, trade intelligence, and cross-border innovation,” he said.
Key features of the AATC Abuja include a technology and SME incubation hub, Digital Africa Trade Gateway, and spaces for conferences and exhibitions—all geared toward fostering regulatory technology solutions and enabling access to compliance analytics for businesses, especially small and medium enterprises (SMEs).
Looking ahead, Afreximbank plans to expand this model across the continent. The next AATC is scheduled to launch in Harare, Zimbabwe in August 2025, followed by centres in Kampala, Cairo, and Yaoundé. These centres aim to strengthen regulatory frameworks and enhance Africa’s trade infrastructure.
In parallel, Afreximbank is spearheading other high-impact projects in Nigeria. Among them is the $750 million African Medical Centre of Excellence in Abuja, developed in partnership with King’s College Hospital, London. The facility will provide advanced healthcare services in oncology, cardiology, and haematology—addressing a critical gap in healthcare compliance and quality.
The bank is also backing the African Quality Assurance Centre in Ogun State, which aims to standardize agricultural exports and processed goods in alignment with international trade regulations. Similar initiatives are underway in Kaduna and Imo States, supporting regulatory risk management and compliance audits in local industries.
Afreximbank is equally investing in Nigeria’s burgeoning creative economy. A $200 million facility was recently launched to empower youth and women-led businesses within the sector, fostering economic inclusion and boosting the export of African creative content—an essential pillar in the broader regulatory compliance framework.
Prof. Oramah extended his appreciation to President Bola Tinubu and the Nigerian government for their unwavering support. He also invited stakeholders to attend the bank’s 32nd Annual Meetings, to be hosted in Nigeria in June 2025.
Representing President Tinubu at the launch, Secretary to the Government of the Federation George Akume emphasized the strategic role of the AATC in facilitating inter-African trade, promoting digital transformation, and empowering SMEs. “This aligns with Nigeria’s economic diversification objectives, job creation, and support for women-led enterprises,” he noted.
In her remarks, Minister of Trade and Investment, Dr. Jumoke Oduwole, hailed the launch as a defining step for Africa’s economic autonomy. She highlighted Afreximbank’s robust support of over $52 billion in disbursements over the past decade and reaffirmed Nigeria’s commitment to working with the bank to drive industrialization and policy development aligned with the African Continental Free Trade Area (AfCFTA).
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, echoed these sentiments, praising the bank’s leadership in transforming Nigeria’s financial ecosystem. He acknowledged Afreximbank’s role in advancing financial integration through tools like the Pan-African Payment and Settlement System (PAPSS), noting its importance for compliance automation and cross-border regulatory enforcement.
As Afreximbank continues to lead the charge in reshaping Africa’s economic narrative, its partnership with Nigeria remains a stronghold for innovation, investment, and inclusive growth across the continent.
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