The African Export-Import Bank (Afreximbank) has announced plans to invest $300 million into export manufacturing projects across four Nigerian states: Cross River, Imo, Enugu, and Kano.
Afreximbank President, Prof. Benedict Oramah, made the announcement during the commissioning of the Afreximbank African Trade Centre (AATC) in Abuja. The essence of the investment is to stimulate non-oil exports, drive industrialisation, and strengthen Nigeria’s position in regional and global markets.
The projects will be executed through Arise Integrated Industrial Platform, one of the bank’s investee companies. Oramah emphasized that these developments are designed to boost production capacity, create jobs, and support small and medium-sized enterprises (SMEs) as well as larger manufacturers.
In his address, Oramah highlighted Afreximbank’s significant financial commitment to Nigeria over the past decade, revealing that the bank has invested over $50 billion into key sectors such as energy, infrastructure, transport, manufacturing, and financial services. Specifically, $19 billion was channelled into the financial services sector, helping to deepen and expand its impact on the Nigerian economy.
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Additionally, to strengthen Nigeria’s export readiness, Afreximbank has operationalized the African Quality Assurance Centre (AQAC) in Ogun State. This facility offers testing and certification services for agricultural and manufactured goods, addressing major quality infrastructure gaps. Plans are underway to develop similar centres in Imo and Kaduna states.
Afreximbank’s commitment to Nigeria’s growth extends further, as Nigeria was selected in 2024 to host the Africa Energy Bank — a collaborative initiative with the African Petroleum Producers’ Organisation (APPO). This demonstrates that Nigeria is growing in Africa’s economic and energy landscape.
