12th February 2025
Nigeria has received about $52 billion in trade and development financing from the African Export-Import Bank (Afreximbank), making it the bank’s largest beneficiary in Africa.
Afreximbank President, Prof. Benedict Oramah, revealed this at the bank’s Annual Meetings 2025 Signing Ceremony in Abuja.
“Nigeria has attracted a cumulative disbursement of about $52 billion, being the largest recipient of our trade and development finance. It has also been the first beneficiary of several flagship transformative projects,” Oramah said.
He thanked the Nigerian government for its support, including responding to capital calls and easing regulatory challenges, which strengthened the country’s influence in the bank’s affairs.
Over the past decade, Afreximbank has disbursed at least $140 billion across Africa, helping to fill financing gaps left by international banks. Oramah noted that the bank’s support had driven industrialization, reduced reliance on commodity exports, and boosted intra-African trade, particularly under the African Continental Free Trade Agreement (AfCFTA).
Nigeria has also benefited from investments in key sectors, including the African Quality Assurance Centre, which helps ensure Nigerian products meet global standards. The first centre is operational in Kaduna, with more planned across the continent.
Nigeria’s Finance Minister, Wale Edun, expressed appreciation for Afreximbank’s continued financial support, acknowledging the bank’s approval of “tens of billions” in facilities over the years.
