Abuja, April 11, 2025 – President Bola Tinubu has commended Afreximbank for its commitment to breaking trade barriers and bridging financing gaps as well as empowering African businesses to compete globally.
Tinubu made the commendation in Abuja on Thursday during the inauguration of Afreximbannk’s African trade Centre,
He said the impact of Afreximbank’s interventions were being felt across the continent.
He said the bank’s feats had been accomplished through flagship initiatives including the African Continental Free Trade Area (AfCFTA) Adjustment Fund managed by the bank’s subsidiary- Fund for Export Development in Africa (FEDA); the Pan-African Payment and Settlement System (PAPSS), and trade finance programmes.
The president was represented at the occasion by George Akume, the Secretary to the Government of the Federation (SGF).
Tinubu described the Afreximbank African Trade Centre (AATC) as a landmark project that embodies our shared commitment to advancing Intra-African Trade, fostering economic integration and unlocking a vast potential of our continent.
“This occasion is a realisation of a bold vision for Africa’s economic future. AATC stands as a testament to the power of collaboration, resilience and forward-thinking leadership.
“It is more than a physical structure; it is the beginning of innovation, a hub for entrepreneurship and a catalyst for sustainable development.”
“This centre will serve as a critical platform for trade facilitation, capacity building and investment promotion – key pillars of Africa’s economic transformation.
“Afreximbank’s role in shaping Africa’s trade landscape cannot be overstated because the institution has consistently demonstrated its commitment to breaking down barriers, bridging financing gaps and empowering African businesses to be competitive.”
Tinubu acknowledged the over $20 billion trade finance facilities disbursed by the bank to facilitate intra-African trade with plans to double that amount by 2026.
He said the bank had also supported industrial parks and special economic zones development as well as boosted manufacturing and export capacity.
The president also commended the AfCFTA Secretariat’s partnership with Afreximbank to operationalise the world’s largest free trade area connecting 1.3 billion people with a combined GDP of $3.4 trillion.
He also hailed Afreximbank for its visionary leadership and assured the institution of the federal government’s continued partnership to ensure that AATC achieves the objectives of growth in Africa’s trade ecosystem.
Tinubu reaffirmed the government’s steadfast commitment to support initiatives that drive inclusive growth, digital transformation, and sustainable industrialisation.
Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, commended Prof Benedict Oramah, the President of Afreximbank, for positioning the bank as one of the most respected and valued financial institutions.
He said the federal government was pleased with the bank’s thoughtfulness in situating the AATC edifice among its kind in Nigeria.
The minister said Nigeria remained the second largest shareholder of the bank after Egypt and promised to continue to play a critical role in the bank’s growth and success story. (GBN)
