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Tinubu, Bola

President Tinubu Honours Afreximbank Chief with Nation's Second-Highest Honour

Strategic Insights

— 2 min read

Nigeria's President, Bola Tinubu, recently conferred the Grand Commander of the Order of the Niger (GCON) award on Prof. Benedict Oramah, President and Chairman of the African Export-Import Bank (Afreximbank). The ceremony took place during the 2025 Annual Meetings of Afreximbank in Abuja, with the theme "Building the Future on Decades of Resilience". President Tinubu lauded Oramah's decade-long leadership of Afreximbank, which has grown its assets from $5 billion to over $37 billion, and has championed Africa's pandemic response, driven industrialisation, and supported the Africa Continental Free Trade Area (AfCFTA) agreement.

Key Takeaways:

  • President Tinubu awarded Prof. Oramah with the Grand Commander of the Order of the Niger (GCON), the nation's second-highest honour, for his transformative leadership of Afreximbank.
  • Under Oramah's leadership, Afreximbank has grown its assets from $5 billion to over $37 billion, supporting Africa's trade and development initiatives.
  • The bank has championed Africa's pandemic response, driven industrialisation, and supported the Africa Continental Free Trade Area (AfCFTA) agreement, and the continent's creative economy.
  • President Tinubu highlighted Afreximbank's pivotal role in mobilising $250 billion for trade and development, with $140 billion mobilised in the last decade alone.
  • Nigeria has benefited from over $52 billion in support from Afreximbank, directed towards energy, agriculture, infrastructure, manufacturing, healthcare, and creative industries.
  • The President announced the launch of the Africa Energy Bank, headquartered in Abuja, with $5 billion in initial capital, to finance Africa's energy transition, leveraging gas, renewables, and clean technologies.
  • Afreximbank's formal approval of the Pan-African Payment and Settlement System (PAPSS) was highlighted as a significant step towards financial independence for African nations.
  • President Tinubu stressed the importance of intra-African trade as a strategic pathway for growth, jobs, and industrial value chains.

Statistics:

  • Afreximbank's assets have grown from $5 billion to over $37 billion under Prof. Oramah's leadership.
  • Over $250 billion has been mobilised for trade and development by Afreximbank, with $140 billion mobilised in the last decade alone.
  • Nigeria has received over $52 billion in support from Afreximbank.
  • The Africa Continental Free Trade Area (AfCFTA) agreement has been supported by Afreximbank.
  • The Pan-African Payment and Settlement System (PAPSS) has been formally approved by Afreximbank.
  • The Africa Energy Bank will have $5 billion in initial capital to finance Africa's energy transition.

Sources:

  • "President Tinubu Honours Afreximbank Chief with Nation's Second-Highest Honour" by The Guardian Nigeria.
  • "Afreximbank Boss Gets Nigeria's Second-Highest Honour" by Premium Times Nigeria.
  • "President Tinubu Honours Prof. Benedict Oramah with GCON" by Leadership Newspapers.

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