Tinubu confers GCON on Afreximbank President Oramah
…lauds $52bn investment in Nigeria
By Kunle Sanni –
President Bola Tinubu has conferred the national honour of Grand Commander of the Order of the Niger (GCON) on Professor Benedict Oramah, outgoing President and Chairman of the African Export-Import Bank (Afreximbank), in recognition of his contributions to Africa’s development and Nigeria’s economic growth.
The announcement was made on Friday at the 32nd Annual Meetings of Afreximbank in Abuja, where Tinubu praised Oramah for steering the bank to record growth and prioritising Nigeria’s interests throughout his tenure.
“Today is your day, Prof. Oramah,” Tinubu said. “I have the honour and privilege of conferring on you one of the highest recognitions of our country — the Grand Commander of the Order of the Niger (GCON).”
Under Oramah’s leadership, Afreximbank’s assets grew from $5 billion to over $37 billion. His tenure featured major interventions, including funding for 400 million COVID-19 vaccines and investments in agriculture, healthcare, energy, and the Dangote Refinery.
Tinubu disclosed that Nigeria has received over $52 billion in support from Afreximbank, financing projects in energy, infrastructure, manufacturing, healthcare, and the creative industries.
He noted that Nigeria and Afreximbank are collaborating to launch the Africa Energy Bank, with $5 billion in initial capital, to drive the continent’s energy transition from its headquarters in Abuja.
The president highlighted that with the bank’s support, Nigeria’s fertiliser production has scaled to 7.5 million tonnes annually, positioning the country as Africa’s fertiliser hub. He also referenced key infrastructure projects such as the $3.5 billion Bakassi Deep Seaport, the Lagos–Calabar Coastal Highway, and the Sokoto–Badagry Superhighway.
Tinubu commended Afreximbank’s role in launching the Pan-African Payment and Settlement System (PAPSS), which facilitates cross-border trade in local currencies and reduces reliance on foreign exchange.
