President Bola Ahmed Tinubu has conferred the national honour award of Grand Commander of the Order of the Niger (GCON) on President and Chairman of the Board of Directors of African Export-Import Bank, Prof. Benedict Oramah, for his outstanding contributions to the development of Africa, particularly prioritising Nigeria’s interests.
The President gave the recognition to Prof. Oramah at the 32nd Annual Meetings of the Bank, appreciating his leadership role in expanding trade on the continent by leveraging opportunities, integrating and streamlining payment systems, and facilitating development projects for both the private and public sectors.
“I have the honour and privilege of conferring on you one of the highest recognitions of our country, Grand Commander of the Order of the Niger (GCON),” he said.
President Tinubu noted that this year’s meeting theme—”Building the Future on Decades of Resilience”—was timely and profound.
President Tinubu said , “Afrexim Bank, under Professor Benedict Oramah’s steadfast leadership, has grown its assets from 5 billion dollars to over 37 billion dollars. His decade of leadership saw the Bank champion Africa’s pandemic response, drive industrialisation, and support the AfCFTA and the continent’s creative economy. His legacy is one of generational impact,” he added.
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President Tinubu noted that Nigeria so far has benefited more than 52 billion dollars in support from the Afrexim Bank.
“Nigeria has proudly benefited from over 52 billion dollars in support, directed into energy, agriculture, infrastructure, manufacturing, healthcare, and creative industries. Flagship projects such as the Dangote and BUA Refineries, the African Medical Centre of Excellence, and the Africa Quality Assurance Centre embody confidence in Nigeria’s future and Africa’s potential.
“This partnership extends beyond capital. Nigeria’s formal approval of the Pan-African Payment and Settlement System (PAPSS) is a significant step towards financial independence. PAPSS enables cross-border trade in local currencies, reducing reliance on foreign exchange and promoting economic stability. I urge all African nations to embrace PAPSS because deeper financial integration strengthens our collective resilience,” he added.
Presenting his ten-year report, Prof Oramah said, “I gave the job the best of my energy, talent and intellect.”
He said over $120 billion was invested in Africa in 2020 and commended shareholders for reinvesting 50-70 per cent of their $1.35 billion dividend in the bank.
Oramah projected a $250 billion growth for the bank in the next ten years, following the institutionalisation of corporate governance that had earned trust.
The event was attended by former President Olusegun Obasanjo, former President of Ghana, Nana Akufo-Ado, former President of Senegal, Machy Sall, former President of Niger, Mahamadou Issoufou, and former Vice Presidents, Namadi Sambo and Yemi Osinabjo.
Prof. Oramah, who was one of the pioneering leaders of the institution in 1993, served as President/Chairman of the Bank for ten years, with record interventions in facilitating funds for 400 million vaccines to end the spread of Covid-19 in Africa, supporting agricultural development, healthcare projects and energy, including the Dangote Refinery.