Nigeria showcases economic leadership at 32nd Afreximbank Annual Meetings, secures $52bn in financing
Abdullateef Fowewe
Nigeria took center stage at the 32nd Annual Meetings of the African Export-Import Bank (Afreximbank), with the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, spotlighting the nation’s rise as a regional powerhouse in trade, development finance, and industrial growth.
This was obtained in a statement on Saturday, from the Director, Information and Public Relations, Mohammed Manga.
Addressing a high-level gathering of delegates from across Africa and the diaspora, Edun emphasised Nigeria’s strategic partnership with Afreximbank as a blueprint 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,” Edun stated.
The Minister revealed that Nigeria has secured over $52 billion in Afreximbank financing, supporting key 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, which will be headquartered in Abuja with $5 billion in capital.
Highlighting a major milestone, Edun announced Nigeria’s formal adoption of the Pan-African Payment and Settlement System (PAPSS), describing it as “a game-changer for intra-African trade and financial independence.”
He explained, “With PAPSS, Nigerian businesses can settle cross-border transactions in local currencies, reducing foreign exchange pressures and creating a more stable trade environment.”
The Minister also praised the leadership of Afreximbank President Prof. Benedict Oramah and called on the Nigerian private sector to harness Afreximbank’s full suite of instruments, including FEDA, AQAC, and CANEX.
“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,” Edun urged.
The 32nd Afreximbank Annual Meetings convened top public and private sector leaders to advance dialogue on trade integration, financing solutions, and industrial growth across Africa.
As Africa’s economic landscape evolves, Nigeria’s emergence as a pan-African trade powerhouse positions the country for sustained growth, investment, and prosperity.
