Nigerian President Bola Ahmed Tinubu called on African Export-Import Bank (Afreximbank ) to intensify efforts to mobilize capital for industrial development across the continent, as Africa’s largest trade finance institution expands investments aimed at boosting manufacturing and regional value chains.
Tinubu made the appeal during a meeting with Afreximbank President and Chairman George Elombi, where the two discussed strategies to accelerate industrialization, value addition and sustainable economic growth across Africa, according to a statement from the bank.
Elombi reaffirmed Afreximbank’s commitment to supporting Nigeria’s industrial ambitions, highlighting the bank’s investments in industrial infrastructure, agricultural processing, healthcare and transport.
The projects include the Industrial Platform Remo Free Zone, a $2 billion cotton and garment program, the African Medical Centre of Excellence, the Lagos-Calabar Coastal Highway and the Kano-Maradi Railway.
“We can only trade what we produce. We also think that this production is what will create the wealth, not the handouts that we get from outside,” said Dr. Elombi.
Tinubu urged the Cairo-based lender to deepen its role in mobilizing Africa’s financial resources to support industrialization, create jobs and strengthen value chains across the continent.
The discussions also focused on expanding support for the African Medical Centre of Excellence in Abuja and Nigeria’s preparations to host the 2026 Creative Africa Nexus (CANEX) programme and the 2027 Intra-African Trade Fair in Lagos.
The planned events are expected to showcase investment opportunities, deepen commercial ties among African businesses and support the continent’s drive to increase intra-African trade through industrial production and value addition.
