Nigeria Remains Afreximbank’s Largest Beneficiary, Receives $52 Billion in Funding

Nigeria has received a cumulative disbursement of $52 billion from the African Export-Import Bank (Afreximbank), making it the largest recipient of the bank’s trade and development financing across Africa.

Speaking at the Afreximbank Annual Meetings 2025 Signing Ceremony in Abuja, the bank’s President and Chairman, Prof. Benedict Oramah, highlighted Nigeria’s pivotal role in Afreximbank’s vision for Africa’s economic transformation.

“As the largest recipient of the bank’s trade and development finance, Nigeria has attracted a cumulative disbursement of about $52 billion from Afreximbank. Nigeria is the first beneficiary of several flagship transformative projects that the bank is piloting,” Oramah said.

Key Areas of Afreximbank’s Investment in Nigeria

Afreximbank’s funding has fueled critical projects across multiple sectors, reinforcing Nigeria’s economic and industrial expansion.

1. Boosting Trade & Industrial Development

• Afreximbank has disbursed over $140 billion across Africa, filling financing gaps left by retreating international banks.
• Nigeria has been a primary recipient of these interventions, enabling the country to strengthen its industrial and manufacturing sectors.
• The bank has facilitated the implementation of the African Continental Free Trade Agreement (AfCFTA), ensuring Nigerian businesses can compete on a global scale.

2. Advancing Energy Security & Refining Capacity

• Afreximbank has invested heavily in Nigeria’s refining sector, supporting projects like Dangote Refinery and the Port Harcourt Refinery.
• These investments are part of a broader strategy to establish the Gulf of Guinea as a major refining hub, reducing Africa’s dependence on imported petroleum.
• Plans are underway to establish the Africa Energy Bank in Abuja, with an initial $5 billion capital, including $1.25 billion from Afreximbank.

3. Strengthening Nigeria’s Healthcare & Medical Tourism

• Afreximbank has significantly invested in Nigeria’s healthcare system, including the African Medical Centre of Excellence in Abuja, set to open on June 5, 2025.
• The center will serve as both a hospital and a research hub for diseases affecting people of African descent, positioning Nigeria as a medical tourism destination.

4. Expanding Nigeria’s Creative Industry

• Nigeria’s entertainment and creative sectors are receiving Afreximbank’s support through credit facilities, capacity-building programs, and market access initiatives.
• These efforts aim to expand cultural exports and enhance the global reach of Nigerian music, film, and fashion industries.

Nigeria’s Growing Influence in Afreximbank’s Operations

Nigeria’s financial contributions to Afreximbank have ensured the country maintains a strong voice in shaping the bank’s policies and projects. Prof. Oramah expressed gratitude to the Nigerian government for its support, particularly in responding to capital calls and removing regulatory hurdles.

The bank is also set to inaugurate the Africa Trade Centre in Abuja on April 10, 2025. The multi-purpose facility will feature:
• A hotel and conference center
• A technology hub and exhibition space
• A trade information center

Upcoming Afreximbank Annual Meetings in Abuja

Nigeria will host the 32nd Afreximbank Annual Meetings in June 2025, an event expected to attract 5,000–6,000 delegates from across Africa, the Caribbean, the Americas, Europe, and Asia. The discussions will focus on:

• Africa’s economic transformation
• Geopolitical challenges and global trade shifts
• Africa’s position in a changing global economy

This event will also mark Prof. Oramah’s transition after 31 years of service, including a decade as Afreximbank’s President.