The 32nd Annual Meetings of the African Export-Import Bank (Afreximbank) took place in Abuja, providing Nigeria with an opportunity to highlight its growing economic influence. The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, addressed delegates from across Africa and the diaspora during a high-level session.
Minister Edun emphasized Nigeria’s partnership with Afreximbank as a model for collaboration between governments and development finance institutions. “We are not just participating in a summit. We are advancing a shared vision for Africa’s prosperity, with Nigeria playing a leading role in its delivery,” he stated.
Edun highlighted that Nigeria has secured over $52 billion in financing from Afreximbank, targeting sectors such as energy, infrastructure, healthcare, and SME development. Notable projects include the Africa Trade Centre in Abuja, the African Medical Centre of Excellence, and the proposed Africa Energy Bank with $5 billion in capital.
Nigeria recently adopted the Pan-African Payment and Settlement System (PAPSS), which Edun described as transformative for intra-African trade by allowing businesses to settle cross-border transactions in local currencies. This move aims to reduce foreign exchange pressures and stabilize trade environments.
Acknowledging Afreximbank President Prof. Benedict Oramah’s leadership, Edun urged Nigerian private sector actors to utilize Afreximbank instruments like FEDA, AQAC, and CANEX to enhance market access. “The enabling institutions are in place. The infrastructure is growing. Now is the moment for Nigeria’s entrepreneurs and investors to go bigger, bolder, and regional,” he added.
The meetings brought together leaders from both public and private sectors to discuss trade integration and industrial growth across Africa.
As Africa’s economy evolves, Nigeria is positioning itself as a significant player on the continent through strategic partnerships and innovative solutions aimed at ensuring sustained growth.