Tinubu has conferred the national GCON honour on Afreximbank President Benedict Oramah, hailing his transformative leadership in Africa
President Bola Ahmed Tinubu has conferred the 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), in recognition of his outstanding contributions to Africa’s financial and trade development.
Speaking during the 32nd Annual Afreximbank Meetings in Abuja on Friday, Tinubu said: “I have the honour and privilege to recognise you, the outstanding contribution of Professor Benedict Oramah, by conferring you with one of Nigeria’s highest honours, the Grand Commander of the Order of the Niger.”
In a stirring tribute, the president praised Oramah’s “transformative leadership”, describing him as “a pivotal figure in shaping Africa’s financial and trade landscape”.
“Africa must remember those who chose to shape its destiny,” Tinubu said, applauding Oramah’s efforts in strengthening the African Continental Free Trade Area and building resilience across the continent’s economies.
He noted that under Oramah’s tenure, Afreximbank’s assets grew from \$5 billion to over \$37 billion, with more than $150 billion mobilised for trade and development. “Nigeria has proudly benefited from over $52 billion in support directed to energy, agriculture, infrastructure, manufacturing, healthcare, and the creative industry,” the president said.
Tinubu highlighted several flagship projects supported by Afreximbank, including the Dangote Refinery, the African Medical Centre of Excellence, and the African Quality Assurance Centre, calling them “symbols of the confidence in Nigeria’s future and Africa’s potential”.
Reaffirming Nigeria’s commitment to regional financial integration, Tinubu announced Nigeria’s formal approval of the Pan-African Payment and Settlement System (PAPSS), urging African countries to embrace the system. “Deeper financial integration strengthens our collective resilience,” he said.
The president also used the platform to spotlight Nigeria’s recent economic reforms, citing the unification of the exchange rate, removal of fuel subsidies, and tax restructuring as part of his Renewed Hope Agenda. He noted that these measures had resulted in a 3 per cent GDP growth in 2024, improved oil production, inflation control, and a drop in debt servicing from 96 to below 65 per cent of government revenue.
Looking ahead, Tinubu announced plans to launch the Africa Energy Bank in Abuja with a \$5 billion start-up capital, describing it as “a significant step towards financing Africa’s energy transition”.
He added that Nigeria’s fertiliser sector was scaling up to an annual capacity of 7.5 million tonnes, with the aim of becoming the continent’s fertiliser hub to boost food security and drive industrialisation.
Calling for deeper collaboration with Afreximbank and other financial institutions, Tinubu urged African nations to rally against global protectionism and forge a more united front. “A united and purposeful Africa can define its destiny,” he declared.
From Arise TV
