Nigeria Emerges as Top Beneficiary of Afreximbank’s Financing, Receiving $52 Billion
Nigeria has solidified its position as the largest beneficiary of the African Export-Import Bank (Afreximbank), receiving a remarkable cumulative disbursement of approximately $52 billion in trade and development financing. This significant milestone was revealed during the Afreximbank Annual Meetings 2025 Signing Ceremony held in Abuja.
Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, highlighted Nigeria’s pivotal role as a recipient of the bank’s transformative projects. He stated, “Nigeria is the first beneficiary of several flagship transformative projects that the bank is piloting, thanks to our cumulative disbursement.”
Expressing gratitude toward the Nigerian government, Oramah acknowledged its contributions in supporting the bank, particularly in responding positively to capital calls and removing regulatory barriers that could hinder operations.
Over the last decade, Afreximbank has disbursed more than $140 billion across Africa, addressing financing gaps created by declining international bank presence on the continent. Oramah noted that these interventions have accelerated economic transformation and reduced dependence on commodity exports while fostering industrialization throughout Africa.
Afreximbank’s efforts significantly contributed to the implementation of the African Continental Free Trade Agreement (AfCFTA), backing initiatives aimed at enhancing intra-African trade. Nigeria has been a major recipient of investments in crucial sectors, including the establishment of the African Quality Assurance Centre in Kaduna, which ensures Nigerian goods meet global quality standards.
Additionally, Afreximbank is set to inaugurate the Africa Trade Centre in Abuja on April 10. This expansive facility features two towers that house a hotel, conference center, technology hub, exhibition space, and trade information center.
In the healthcare sector, Afreximbank has made noteworthy contributions, including the forthcoming African Medical Centre of Excellence in Abuja, scheduled to open on June 5. This facility aims to tackle neglected diseases and position Nigeria as a hub for medical tourism in Africa.
The bank has also been instrumental in Nigeria’s energy and industrial transformation by investing significantly in refining capacity projects, including the Dangote and Port Harcourt refineries. These initiatives form part of a strategy to establish the Gulf of Guinea as a vital refining center and minimize Africa’s reliance on petroleum imports.
As part of efforts to enhance energy security on the continent, Afreximbank plans to establish an Africa Energy Bank in Abuja, backed by an initial capital of $5 billion, including $1.25 billion from the bank itself. Furthermore, Afreximbank supports Nigeria’s fertilizer production, leading the continent with an annual output of 7.5 million metric tonnes.
The bank is also facilitating the growth of Nigeria’s creative industry through credit facilities, capacity building, and market access initiatives to enhance cultural exports.
Looking ahead, the upcoming 32nd Afreximbank Annual Meetings in Abuja this June are anticipated to be a pivotal event for both the bank and the continent. Oramah emphasized the significance of discussing Africa’s economic progress and addressing challenges such as geopolitical tensions and global trade shifts.
The meetings will also mark a leadership transition, as Oramah prepares to step down after 31 years of service, including a decade as president. With an expected attendance of 5,000 to 6,000 delegates from around the world, the event promises to bolster partnerships and advance economic initiatives across Africa.
Oramah commended Nigeria’s ability to host major international gatherings, recalling the successful hosting of Afreximbank’s 25th anniversary in 2018 that attracted over 3,000 participants. The gathering on June 27 is set to feature prominent figures, including heads of state and business executives, underscoring Nigeria’s commitment to supporting Afreximbank’s mission and promoting economic development.
The Minister of Finance and Coordinating Minister of the Economy also expressed Nigeria’s appreciation for the substantial support received from Afreximbank, highlighting the approval of tens of billions in facilities over the years.
