Abuja – Afreximbank has poured a staggering $50 billion into Nigeria over the past decade, targeting vital industries from energy and manufacturing to healthcare, transport, and financial services. The figure was revealed on Thursday by Professor Benedict Oramah, President and Chairman of Afreximbank’s Board, at the opening of the bank’s new Africa Trade Centre (AATC) in Abuja.
Driving Non‑Oil Growth
Oramah described the ten‑year investment as “a deliberate effort to diversify Nigeria’s economy beyond oil.” He noted that $19 billion alone has flowed into the financial services sector, helping to modernize banking, expand credit access, and deepen capital markets.
“These funds have underpinned power projects, upgraded factories, bolstered hospitals, and improved road and rail links,” Oramah said. “They’ve also supported entrepreneurs and small businesses, strengthening the non‑oil backbone of Nigeria’s economy.”
A New Hub for Intra‑Africa Trade
The $120 million AATC in Abuja—Afreximbank’s first such centre—will serve as a trade and investment gateway linking Africa with the Caribbean. Completed in just 41 months, the facility houses a digital trade portal, SME incubator, technology innovation lab, and conference spaces.
“This centre will light the way for businesses across Africa and the Caribbean to connect, collaborate, and trade,” Oramah explained. “It’s a practical step toward realizing the promise of the African Continental Free Trade Area.”
Expanding a Continent‑Wide Network
Building on Abuja’s launch, Afreximbank plans to open similar centres in Harare, Zimbabwe, by August 2025, followed by Kampala in 2026, and later in Cairo and Yaoundé. Each will mirror the Abuja model, offering digital gateways, incubation services, and exhibition venues to nurture regional commerce.
Healthcare, Quality Assurance, Creative Industries
Beyond trade centres, Afreximbank is backing a $750 million African Medical Centre of Excellence in Abuja, developed with London’s King’s College Hospital. This facility will specialize in oncology, cardiology, and haematology.
In Ogun State, the bank is funding an African Quality Assurance Centre to help local food and agricultural exporters meet international standards. Projects in Kaduna and Imo States will follow.
Recognizing Nigeria’s booming creative sector, Afreximbank has also set up a $200 million facility to support filmmakers, musicians, and digital artists, helping them scale exports across the continent and beyond.
Government Support and Next Steps
Professor Oramah thanked President Bola Tinubu for his backing and invited stakeholders to Afreximbank’s 32nd Annual Meetings in Nigeria next June. Representing the president, Secretary to the Government George Akume praised the new trade centre as a “cornerstone for deeper economic integration” and reiterated federal support for job creation, SME empowerment, and digital transformation.
Trade and Investment Minister Jumoke Oduwole hailed the AATC as “a game‑changer for youth and women entrepreneurs,” while Finance Minister Wale Edun highlighted Afreximbank’s role in mobilizing over $52 billion into Nigeria since its inception. Both ministers pledged continued partnership to accelerate trade, industrialization, and sustainable growth.
With its decade of investment and an expanding network of trade hubs, Afreximbank is staking its claim as a catalyst for Nigeria’s—and Africa’s—economic renaissance.