Tinubu Awards GCON to Outgoing Afrexim Bank Chair Prof.Oramah for Outstanding Leadership

Abuja — President Bola Tinubu has conferred the Grand Commander of the Order of the Niger (GCON) on Professor Benedict Oramah, outgoing President and Chairman of the African Export-Import Bank (Afrexim Bank), in recognition of his exemplary leadership and contributions to Africa’s development. The honour was announced during the 32nd Annual Afrexim Bank Meetings in Abuja.

President Tinubu praised Oramah’s decade at the helm, during which Afrexim Bank’s assets grew from $5 billion to over $37 billion. He highlighted Oramah’s role in boosting intra-African trade, advancing payment systems, and supporting major development projects including Nigeria’s Dangote Refinery and the procurement of 400 million COVID-19 vaccine doses for Africa.

Noting Nigeria’s receipt of over $52 billion in funding from Afrexim Bank across sectors such as energy, agriculture, healthcare, and infrastructure, Tinubu also emphasized the importance of the Pan-African Payment and Settlement System (PAPSS) in facilitating trade in local currencies.

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Looking forward, Afrexim Bank plans to launch the Africa Energy Bank in Abuja with $5 billion capital to support the continent’s energy transition and back Nigeria’s goal to become Africa’s fertiliser hub. Infrastructure projects like the $3.5 billion Bakassi Deep Seaport are also underway.

President Tinubu highlighted the positive outcomes of his administration’s economic reforms, including 3.4% GDP growth in 2024, increased oil production, easing inflation, and improved investor confidence. He called on African leaders to deepen integration and support Afrexim Bank’s mission.

Professor Oramah, reflecting on his tenure, expressed pride in the bank’s $250 billion mobilisation for African trade and development, with a promising outlook for the future.

The event was attended by prominent African leaders, including former Presidents Olusegun Obasanjo, Nana Akufo-Ado, Macky Sall, Mahamadou Issoufou, and former Nigerian Vice Presidents Namadi Sambo and Yemi Osinbajo.