By Joy Baba-Yesufu
President Bola Ahmed Tinubu has called for deeper unity, innovation, and regional integration across Africa, urging stakeholders to harness the continent’s collective strength for sustainable economic growth.
Speaking at the 32nd Annual Afreximbank Meetings in Abuja, themed “Building the Future on Decades of Resilience”, the President highlighted Nigeria’s readiness to drive pan-African collaboration through trade, infrastructure, and institutional reforms.
“As Africa’s most populous nation and a strong advocate of regional integration, Nigeria is honoured to host this gathering at a time when unity, innovation, and resilience are more critical than ever,” Tinubu said.
The President lauded Afreximbank’s impact under the leadership of Prof. Benedict Oramah, noting its asset growth from US$5 billion to over US$37 billion and mobilised investments exceeding US$250 billion since inception.
He said Nigeria alone has attracted over US$52 billion in Afreximbank funding, with landmark projects such as the Dangote and BUA refineries, the African Medical Centre of Excellence, and the Africa Quality Assurance Centre.
Tinubu also endorsed the Pan-African Payment and Settlement System (PAPSS), recently ratified by Nigeria, as a tool for reducing dependence on foreign currencies and promoting intra-African trade while calling on all African nations to adopt the system, describing it as a strategic move toward financial sovereignty.
Highlighting progress under his Renewed Hope Agenda, Tinubu cited bold reforms, including fuel subsidy removal, exchange rate unification, and new tax laws aimed at enhancing fiscal transparency.
Mr President noted that these policies have begun yielding results: GDP growth stood at 3.4% in 2024, inflation is easing, oil production has recovered to 1.5 million barrels per day, and debt servicing dropped from 96% to below 65% of government revenue.
Socially, he said over 100,000 Nigerians have accessed the national consumer credit scheme, with 400,000 more in line. “A student loan initiative is expanding access to higher education, while N45.9 billion has been invested to upgrade 8,800 primary health centres nationwide” he noted.
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