By Babajide Okeowo
The Nigerian economy will witness an injection of N2.5b from the African Export-Import Bank (Afreximbank).
This fund injection will be for infrastructural development, as well as maximizing the economy of the country.
According to the News Agency of Nigeria (NAN), this disclosure was made by the President/Chairman. Board of Directors of Afreximbank, Prof. Benedict Oramah, when he led a delegation of the bank to visit the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha in his office.
“We decided that giving the importance of Nigeria to the bank in terms of the share of membership of the bank, the pivotal role Nigeria is playing in the bank, and also the extent of activities we undertake in Nigeria, we decided that we should be coming periodically to brief the SGF that through him also, such briefing can be extended to the different agencies of government. So that as we implement our work, we will continue to receive the support we need” Oramah disclosed in his statement.
Oramah noted that Afreximbank has done cumulative disbursements of almost $20 billion within the last 5 years in Nigeria.
He said that his mission to the SGF was to brief him on other intervention programmes in the areas of establishment of the African Medical Centre for excellence and African quality assurance centre and also inform him of the plans to support Nigeria to begin to manufacture vaccines given the present Covid-19 situation in the country.
Speaking during the occasion, Boss Mustapha, expressed his appreciation for the numerous initiatives by the management of Afreximbank and their support to Nigeria’s economy.
The SGF said, “Supporting the Nigerian economy in the way you are doing as evidenced in the initiatives that you have enumerated this afternoon.
“I’m glad that most of these were things I had cause to discuss with you a couple of times, and on occasions, particularly when I had singular privilege and honour to chair the annual general meetings in Moscow.”
The SGF said the credible infrastructural facilities Afreximbank had put in place in Nigeria would help to stimulate the nation’s economy, adding that Afreximbank’s institutional framework will address so many issues in Nigeria.
He pointed out that in spite of the adverse effect of Covid-19, Nigeria has demonstrated that its economy is resilient, and is strong to have been able to exit a recession, though marginally in the fourth quarter of 2020.