The African Export-Import Bank has mobilized over $250 billion into African economies since 1993, with Nigeria receiving $52 billion in strategic investments across key economic sectors.
Vice President Kashim Shettima praised the bank’s transformation from a regional trade financier to a continental development anchor during the institution’s 2025 Annual Meetings in Abuja. The gathering focused on building economic resilience amid global uncertainties.
Professor Benedict Oramah, Afreximbank’s President, highlighted the bank’s response to continental crises, including COVID-19 pandemic support and supply chain disruptions. The institution’s Pandemic Trade Impact Mitigation Facility provided emergency financing when global liquidity tightened significantly.
Nigeria has benefited from landmark Afreximbank projects including the African Trade Centre in Abuja, which serves as a hub for policy innovation and business intelligence. The recently opened African Medical Centre of Excellence is expected to reduce Nigeria’s $1 billion annual medical tourism expenditure by 60%.
Central Bank Governor Olayemi Cardoso emphasized institutional resilience as crucial for Africa’s economic future. “Afreximbank has grown from $750 million in initial capital to $40 billion in assets, demonstrating that African institutions can compete globally when properly structured,” Cardoso stated.
The bank’s African Quality Assurance Centres in Kaduna and Ogun states are strengthening export readiness for Nigerian products, potentially increasing non-oil exports by 25% over three years. A $300 million export-manufacturing initiative spans Cross River, Enugu, Imo, and Kano states.
Dr. Yemi Kale, Afreximbank’s Group Chief Economist, noted Africa’s resilience despite global challenges. “The continent’s limited integration into certain global systems has provided unexpected buffers against external shocks,” Kale explained.
The bank’s $3 billion intra-African petroleum trade facility enhances Nigeria’s energy security while supporting domestic refining capacity expansion. This initiative aligns with government efforts to achieve energy self-sufficiency by 2030.
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