Business - Business & Economy - News - November 16, 2021

Buhari lauds Afreximbank’s support to Nigeria’s economy

MEDIATRACNET

The Nigerian government will continue to support efforts to broaden the economy through multilateral financing, President Muhammadu Buhari has said.

The media aide to the President, Garba Shehu quoted the president as saying this in Abuja on Monday when President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Benedict Oramah, visited him on Sunday, in Durban, South Africa.

The meeting was held ahead of the opening ceremony of the 2nd Intra-African Trade Fair Conference in the South African city on Monday.

President Buhari said: “I appreciate the support you are giving Nigerian businesses and by implication, the Nigerian economy. Rest assured you can count on me as you seek a better trade and investment climate for Africa.”

Oramah, who arrived in company of the Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat, Wamkele Mene, thanked President Buhari for honouring the invitation of the South African President to attend the Afreximbank-backed Fair, alongside other Heads of State.

He said this clearly demonstrated that “President Buhari understands the importance of trade and how Intra-African trade can help transform the African economy and of course, that of Nigeria.”

Oramah equally appreciated the Nigerian leader for granting land and accepting to grace the occasion of the ground-breaking ceremony of the Africa Medical Centre of Excellence project, to be implemented by the continental bank in Abuja, in December.

Nigeria, he said, was an important market for the bank with an exposure of $5.5 billion.

”It is, therefore, imperative that we continue to engage Nigeria at the highest level,” he said.

He revealed that Nigerian businesses got deals worth over $3.3 billion during the first edition of the event in Cairo, Egypt.

Oramah said more was expected at this year’s Fair with an assurance that Afreximbank would be ready to support such deals emanating from the event “especially considering the support we have seen from the President.

“Nigeria’s participation was essential as the largest economy in Africa. Africa needs Nigeria as Nigeria needs Africa.
”Anything we do at the continental level that does not have Nigeria is seen globally as incomplete”, Oramah said. (NAN)

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