Afreximbank Commits $52 Billion in Development Finance to Nigeria, Honors Outgoing President with National Recognition

Strategic Insights -

The African Export-Import Bank (Afreximbank) has committed a total sum of approximately $52 billion in development finance exposure to Nigeria, a figure disclosed at the 32nd Afreximbank Annual Meetings 2025 (AAM2025) in Abuja. President Bola Tinubu conferred the national honor of Grand Commander of the Order of the Niger (GCON) on the outgoing President and Chairman of the African Export-Import Bank (Afreximbank), Professor Benedict Oramah, for his sterling performance in the bank and contributions to the development of Nigeria's economy.

Key Takeaways:

  • Afreximbank has committed over $52 billion in development finance exposure to Nigeria.
  • Under Professor Benedict Oramah's leadership, Afreximbank's assets grew significantly from $5 billion to over $37 billion.
  • The bank mobilised more than $150 billion for trade and development in Africa over the last decade.
  • The flagship African Trade Report 2025 highlights Africa's resilience in a challenging global environment.
  • The report suggests that Africa can leverage global challenges into opportunities for industrialisation, digital progress, and greater control over its financial systems.
  • Africa's trade rebounded strongly in 2024, with trade between African countries growing by 12.4% to reach $220.3 billion.

Statistics:

  • $52 billion: Afreximbank's total development finance exposure to Nigeria.
  • $5 billion: Afreximbank's assets under Professor Benedict Oramah's predecessor.
  • $37 billion: Afreximbank's assets under Professor Benedict Oramah's leadership.
  • $150 billion: Total mobilised for trade and development in Africa over the last decade.
  • 12.4%: Growth in trade between African countries in 2024.
  • $220.3 billion: Total African trade in 2024.
  • 13.9%: Surge in Africa's total merchandise trade in 2024.
  • $1.5 trillion: Africa's total merchandise trade in 2024.
  • 3.3%: Share of global exports accounted for by Africa.

Sources:

  • Mr Wale Edun, Minister of Finance and Coordinating Minister of the Economy, at the 32nd Afreximbank Annual Meetings 2025 (AAM2025) in Abuja.
  • President Bola Tinubu at the 32nd Afreximbank Annual Meetings 2025 (AAM2025) in Abuja.
  • Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank.
  • Dr Yemi Kale, Afreximbank's Group Chief Economist and Managing Director of Research.