Afreximbank has disbursed $50 billion in Nigeria over the past ten years, significantly supporting key sectors such as energy, manufacturing, healthcare, transport, and financial services.
This was disclosed by the President and Chairman of the Board of Directors of Afreximbank, Prof. Benedict Oramah, during the commissioning of the Afreximbank Africa Trade Centre in Abuja on Thursday.
Speaking at the event, Oramah reaffirmed Afreximbank’s commitment to Nigeria’s development, emphasizing that the investments have played a key role in expanding the country’s non-oil sectors.
He revealed that $19 billion of the total disbursement went into the financial services sector, which has seen substantial growth over the years.
“Over the last decade alone, total disbursements into Nigeria amounted to about $50bn, spreading across vital sectors of energy, infrastructure, manufacturing, healthcare, transport, and financial services,” Oramah said.
The AATC Abuja, the first of its kind, is a central element of Afreximbank’s strategy to establish a network of trade centres across Africa and the Caribbean.
The $120 million facility, which commenced in November 2021 and was completed within 41 months, aims to boost trade and investment by fostering regional integration and strengthening links between Africa and the Caribbean.
Oramah stressed that the AATC will serve as a platform for boosting intra-African trade, saying, “This centre will act as a lighthouse for interconnections, providing a digital gateway that will enable businesses across Africa and the Caribbean to connect, collaborate, and trade.”
The AATC Abuja will feature a variety of services, such as a technology incubation hub, an SME support centre, the Digital Africa Trade Gateway, and modern spaces for conferences and exhibitions.
“This facility is a hub for turbocharging Nigerian businesses’ engagement in the African Continental Free Trade Area,” Oramah added.
Oramah spoke about the ongoing expansion of Afreximbank’s network of trade centres, disclosing that the next AATC will be launched in Harare, Zimbabwe, in August 2025.
Additional centres are also planned for Kampala, Uganda, in 2026, as well as in Cairo, Egypt, and Yaoundé, Cameroon, in the near future.
He emphasized that these trade centres will play a vital role in reshaping Africa’s economic future.
Beyond the AATC, Oramah also outlined other key initiatives Afreximbank is undertaking in Nigeria, including the soon-to-be-opened African Medical Centre of Excellence in Abuja. Developed in partnership with King’s College Hospital, London, the $750 million world-class facility will offer advanced healthcare services in oncology, cardiology, and haematology.
The bank is also supporting the African Quality Assurance Centre in Ogun State, which aims to enhance the quality infrastructure needed for Nigeria’s agricultural and value-added goods to meet regional and international market standards. Similar projects are in development in Kaduna and Imo States.
In his keynote address, President Bola Tinubu—represented by the Secretary to the Government of the Federation, George Akume, expressed the Federal Government’s strong support for the centre.
He highlighted its importance in promoting inter-African trade, driving economic integration, and aligning with Nigeria’s broader strategic objectives.
He emphasized the focus on job creation, economic diversification, and empowering SMEs and women-led businesses by providing access to markets and finance, in line with Nigeria’s growth vision.
Additionally, he reaffirmed Nigeria’s commitment to inclusive growth and digital transformation, commending the bank’s leadership in shaping Africa’s trade landscape.
Earlier, Minister of Trade and Investment, Dr. Jumoke Oduwole, underscored the importance of the event, calling it a crucial step toward Africa gaining greater control over its trade.
She commended Afreximbank’s leadership, recognizing its significant contributions to Nigeria, with over $52 billion disbursed in the past decade across various sectors.
Oduwole emphasized that the AATC will empower youth, women-led businesses, and SMEs, offering a platform for trade intelligence, policy development, and the effective implementation of the African Continental Free Trade Area.
