President Bola Tinubu Friday in Abuja conferred the national honour, Grand Commander of the Order of the Niger (GCON), on President and Chairman of the Board of Directors of African Export-Import Bank, Benedict Oramah, for his outstanding contributions to development of Africa, particularly prioritising Nigeria’s interests.
The president gave the surprise recognition to Mr 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.
“Today is your day, Prof Oramah. I have listened to the accounts and reports you read eloquently, which also consist of lessons for us, your friends.
“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.
“Afrexim Bank, under Professor Benedict Oramah’s steadfast leadership, has grown its assets from $5 billion to over $37 billion. 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.
Mr 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 halt spread of Covid-19 in Africa, supporting agricultural development, healthcare projects and energy, including the Dangote Refinery.
Mr Tinubu noted that Nigeria benefited from more than $52 billion 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”.
The president said Afrexim Bank was born from Africa’s resolve to own its development since 1993, with over $250 billion mobilised for trade and development and $140 billion in the last decade alone.
In his remarks, the Coordinating Minister of the Economy and Minister of Finance, Wale Edun, thanked the president for approving hosting the 32nd annual meeting in Abuja.
Mr Edun thanked Afrexim Bank for opening the African Trade Centre in Abuja, an excellent global medical centre, and supporting the private sector.
Presenting his ten-year report, Mr 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.
Mr 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.
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