The President of Afreximbank Prof Benedict Oramah has disclosed that Nigeria received $50 billion from the bank from 2015 till date.
Oramah who is also the chairman of the bank made this known on Thursday during the commissioning of the Afreximbank Africa Trade Centre in Abuja, the nation’s capital.
He said the amount has been used in the expansion of the nation’s non- oil and gas sector, manufacturing, health, transport amongst other, noting that the banking and financial sector which received a large chunk of $19 billion.
According to him, the financing has helped the sector grow significantly in the last decade.
“Over the last decade alone, total disbursements into Nigeria amounted to about $50bn, spreading across vital sectors of energy, infrastructure, manufacturing, healthcare, transport, and financial services,” Oramah said.
The AATC Abuja, which is the first of its kind, is a key component of Afreximbank’s broader strategy to create a network of trade centres across Africa and the Caribbean.
The $120m facility, which began in November 2021 and was completed within its 41 months, is designed to promote trade and investment by facilitating regional integration and enhancing connectivity between Africa and the Caribbean.
Oramah stressed that the AATC will serve as a platform for boosting intra-African trade, saying, “This centre will act as a lighthouse for interconnections, providing a digital gateway that will enable businesses across Africa and the Caribbean to connect, collaborate, and trade.”
The AATC Abuja will offer a wide range of services, including a technology incubation hub, an SME incubation facility, a Digital Africa Trade Gateway, as well as conference and exhibition spaces.
“This facility is a hub for turbocharging Nigerian businesses’ engagement in the African Continental Free Trade Area,” the Afreximbank President said.
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