President Bola Ahmed Tinubu has revealed that his administration has spent N45.9 billion in medical care to improve 8,800 primary health centers, improving maternal care and diagnosis in careless communities.
Tinubu announced this at the 32nd annual meetings of the African Export Export Bank (Affrexual Bank) held in Abuja.
In the event, the President conferred the National Honor, the great commander of the Order of the Niger (GCON), to the President of the Board of Directors of the African Bank for Export Export for his contributions pending to the development of Africa, particularly for prioritizing the interests of Nigeria.
The special advisor of the President of Information and Strategy, Bayo Onanuga, in a statement on Friday in Abuja, said that the president gave the surprise recognition to Prof. Oramah at 32.2. ° Annual meetings of the Bank, appreciating its leadership role in the expansion of trade in the continent by leveraging opportunities, integrating and rationalization of payment systems and facilitation development projects for private and private sectors.
“Today is your day, Professor Oramah. I have heard the accounts and reports that you read eloquently, which also consist of lessons for us, your friends.
“I have the honor and privilege of consulting one of the highest awards in our country, a great commander of the Niger Order (GCON),” he said.
President Tinubu said that the issue of this year's meeting, “building the future in decades of resilience,” was timely and deep.
“Affrexim Bank, under the firm leadership of Professor Benedict Oramah, has increased its 5 billion dollars assets to more than 37 billion dollars. His decade of leadership saw the bank defend the pandemic response of Africa, boost industrialization and support the AFCFTA and the creative economy of the continent. Its legacy is one of the generational impacts,” he added.
Professor Oramah, who was one of the pioneer leaders of the institution in 1993, served as president and president of the bank for ten years, with record interventions to facilitate funds for 400 million vaccines to stop the propagation of COVID-19 in Africa, and support agricultural development, medical care projects and energy, including the Dangote refinery.
Tinubu pointed out that Nigeria benefited from more than 52 billion dollars in support of the shore of AFREX.
“Nigeria has proudly benefited more than 52 billion dollars in support, aimed at energy, agriculture, infrastructure, manufacturing, medical care and creative industries. Badge projects such as the refineries of Dangote and Bua, the African Medical Center of Excellence and the Quality Center of Africa that incorporate confidence in the future of Nigeria and the potential of Africa.
“This association extends beyond capital. Nigeria's formal approval of the Pan -African Payment and Liquidation System (PAPSS) is a significant step towards financial independence. PAPSS allows cross -border trade in local currencies, reducing the dependence of the division and promoting economic stability. I insert all nations of Africans to adopt the deepest PAPS because the deepest financial integration strengthens our resilience strengthens our resilience Collective, he added, Heal added.
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The president said that Affrexim Bank was born from Africa's resolution to own its development since 1993, with more than 250 billion dollars mobilized for trade and development, and 140 billion dollars only in the last decade.
“Nigeria's collaboration with AFREXIM BANK is expanding in scope and ambition. Together, we are launching the Energy Bank of Africa, based in Abuja, with 5 billion dollars in initial capital to finance the energy transition of Africa, taking advantage of gases, renewables and clean technologies.
“We are expanding our fertilizer sector to 7.5 million tons per year, backed by the AFREX bank, positioning Nigeria as the Africa fertilizer center and guaranteeing food security for the continent. Meanwhile, transformative projects such as Bakassi Deep Leapport Bakassi of 3.5 billion dollars improve commercial infrastructure and market access.
“Through platforms such as Feda, Aqac, Canex and Papss, our association with AFREXIM BANK is not just about financing. It is about promoting African entrepreneurship, raising quality standards and climbing SMEs in creative and exported industries.
President Tinubu highlighted some of the profits of the Nigerian economy through repositioning in the last two years.
“Since May 2023, my administration, under the renewed agenda of Esperanza, has advanced difficult but necessary reforms rooted in macroeconomic stability, inclusive growth and restored productivity. We eliminate the long -standing fuel subsidy and unify our system of change rates.
“These reforms, although difficult, were essential to correct systemic distortions. The results of our efforts are clear and promising, providing a solid basis for our future efforts. We have made significant advances in several sectors, and these achievements should fill us all with optimism for what is coming.
“In 2024, Nigeria registered a GDP growth of 3.4 percent with broad sectoral contributions. Petroleum production was recovered to 1.5 million barrels per day with a 2.5 million objective in sight, backed by strategic investment agreements such as the CNCEC Agreement of 1.2 billion dollars.
“Inflation is relieved, Naira is stabilizing, investors are being recovered and debt service has decreased from 96 percent to less than 65 percent of income. Fiscal reform is also underway, with the approval of four tax bills by the National Assembly, which I signed a few days ago,” said the president.
President Tinubu said that the fundamental transformation had been registered to empower citizens and prosperous companies, with more than 100,000 Nigerians accessing the new national consumer credit scheme.
The president said that 400,000 Nigerians have been placed for the next phase of the scheme.
“Our historical program of student loans guarantees that no child is denied higher education due to financial difficulties.
“We have spent 45.9 billion Nairras in medical care to improve 8,800 primary health centers, improving maternal attention and diagnosis in careless communities. We are displaying thousands of fiber optic cables for digital inclusion to close connectivity and power innovation.
More than 279 roads have been completed in infrastructure, with 65 under construction and 260 rural road interventions executed. The main arteries such as the Lagos Coastal Highway – Calabar, the Sukoto – Badagry and the Abuja – Kaduna – Kano road are restructuring national logistics and regional integration, ”said the president.
President Tinubu urged African leaders in the public and private sectors to work towards greater integration and rationalization of payment systems, commercial facilitation and associations for regional development.
“As the world becomes increasingly fragmented, with a growing protectionism and a changing commercial dynamic, Africa must double its institutions and capacities. Affrexima Bank, backed by the compromised member states, must remain agile, bold and based on African realities.
“Finally: adopt PAPS fully to reduce costs, conserve foreign reserves and empower SMEs. We strengthen financial support so that banks on the shore scale its transformative impact. Let's treat intra -African trade not as an objective but as a strategic route for growth, jobs and industrial value chains.
“We will empower young people, women and businessmen as beneficiaries and architects of a new African century. The world will not wait for Africa; a united and determined Africa can define their destiny,” he said.
In his comments, the Minister Coordinator of the Economy and the Minister of Finance, Wale Edun, thanked the President for approving the reception of the 32nd Annual Meeting in Abuja.
Edun thanked AFREXIM BANK for opening the African Trade Center in Abuja, an excellent global medical center, and for supporting the private sector.
When presenting his ten -year report, Professor Oramah said: “I gave work the best of my energy, talent and intellect.”
He said that more than 120 billion dollars were invested in Africa in 2020 and praised shareholders for reinvesting 50-70 percent of their dividend of 1.35 billion dollars in the bank.
Oramah projected a growth of 250 billion dollars for the bank in the next ten years, after the institutionalization of corporate governance that had gained trust.
The event was attended by former President Olusegun Obasanjo, former president of Ghana Nana Akufo-Addo, former president of Senegal Macky Sall, former president of Niger Mahamadou Issoufou, and former vice presidents Namadi Sambo and Yemi Osinbo.
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