President Bola Tinubu has conferred the national honor of the Great Commander of the Order of the Niger (GCON) to Professor Benedict Oramah, outgoing president and president of the Board of Directors of the African Bank for Export-Importation (AFREXIMBANK).
The honor was granted during the 32nd annual meetings of AFREXBANK held in Abuja on Friday.
“I have the honor and privilege of recognizing it, the excellent contribution of Professor Benedict Oramah, when conferreding it with one of Nigeria's highest honors, the great commander of the Niger order,” Tinubu announced in the event.
In a sincere tribute, the president praised the transforming leadership of Oramah in Affreximbank, describing it as a key architect to remodel the commercial and financial landscape of Africa. He praised Oramah's instrumental role in strengthening the African Continental Free Trade (AFCFTA) and reinforce the continent financial resistance.
According to Tinubu, Affreximbank assets grew from $ 5 billion to more than $ 37 billion under Oramah's leadership, with the bank mobilizing more than $ 150 billion for trade and development in the last decade.
“Nigeria has proudly benefited more than $ 52 billion in support aimed at energy, agriculture, infrastructure, manufacturing, medical care and creative industry,” he said.
Tinubu highlighted historical projects such as Dangote Refinery, the African Medical Center of Excellence and the African Quality Guarantee Center as reflections of bank confidence in Nigeria and its future.
He also reaffirmed Nigeria's commitment to financial integration by announcing the formal approval of the Pan -African Payment and Liquidation System (PAPS).
“I urge all African nations to adopt PAPSS because the deepest financial integration strengthens our collective resilience,” said Tinubu.
The president used the occasion to describe broader economic reforms under his administration, including unification of the exchange rate, the elimination of fuel subsidies and tax restructuring.
He reported a 3 percent GDP growth for Nigeria in 2024, improved oil production and a reduction in debt service from 96 percent to less than 65 percent of government revenues.
Looking towards the future, Tinubu announced the launch of Africa Energy Bank in Abuja with an initial capital of $ 5 billion to support the energy transition of the continent through investments in gas, renewable energy and clean technologies.
He also revealed plans to expand the production of Nigeria fertilizers to 7.5 million tons per year, positioning the country as the African fertilizer center and reinforcing food safety and industrialization.
Tinubu concluded asking for stronger associations with AFREXIMBANK and other financial institutions to boost intrafrican trade and entrepreneurship.
“A united and determined Africa can define its destiny,” he said, urging African nations to face global protectionism with greater unity and cooperation.
Read too Main stories OF Nigerian tribe