President Bola Tinubu on Friday conferred the prestigious national honour of Grand Commander of the Order of the Niger (GCON) on Professor Benedict Oramah, outgoing President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank). The ceremony, held in Abuja during the bank’s 32nd Annual Meetings, celebrated Oramah’s remarkable contributions to Africa’s economic transformation and his unwavering commitment to Nigeria’s development.
Describing Oramah as a visionary leader, President Tinubu lauded his efforts in expanding intra-African trade, streamlining payment systems, and driving critical development initiatives across the continent. “Today is your day, Prof. Oramah,” Tinubu declared. “I have the privilege of bestowing upon you one of Nigeria’s highest honours in recognition of your outstanding service the Grand Commander of the Order of the Niger.”
Under Professor Oramah’s leadership, Afreximbank’s assets grew exponentially from $5 billion to over $37 billion. His tenure saw the bank play a pivotal role in Africa’s pandemic response, providing financing for over 400 million COVID-19 vaccine doses, supporting industrialisation, and strengthening the creative economy. The president noted that Nigeria alone had benefited from more than $52 billion in support across vital sectors such as energy, infrastructure, agriculture, manufacturing, and healthcare.
Tinubu highlighted landmark projects including the Dangote and BUA Refineries, the African Medical Centre of Excellence, and the Africa Quality Assurance Centre, describing them as emblematic of Africa’s rising potential and Nigeria’s strategic importance. He further commended Nigeria’s adoption of the Pan-African Payment and Settlement System (PAPSS), a move aimed at enhancing cross-border trade and reducing dependency on foreign currencies.
Looking ahead, Tinubu announced the upcoming launch of the Africa Energy Bank, to be headquartered in Abuja with a $5 billion initial capital base, designed to finance Africa’s energy transition and support renewable energy development. Other ongoing collaborations include scaling Nigeria’s fertiliser production capacity to 7.5 million tonnes annually and advancing critical infrastructure such as the $3.5 billion Bakassi Deep Seaport.
President Tinubu underscored Afreximbank’s evolving role as more than a financier but as a strategic partner in building Africa’s economic architecture. Through initiatives like FEDA, AQAC, CANEX, and PAPSS, the bank supports African entrepreneurship, boosts quality standards, and empowers creative and export-driven industries.
Reflecting on Nigeria’s broader economic trajectory, Tinubu reiterated his administration’s commitment to difficult yet essential reforms aimed at stabilising the macroeconomy, promoting inclusive growth, and enhancing productivity. “Since May 2023, under our Renewed Hope Agenda, we have undertaken bold measures, including the removal of the fuel subsidy and unification of exchange rates, to secure a sustainable economic future for all Nigerians,” he stated.
In honoring Professor Oramah, President Tinubu not only celebrated individual excellence but also reaffirmed Nigeria’s resolve to lead in shaping Africa’s economic renaissance.
