Nigeria has emerged as a pan-African trade powerhouse, with the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, highlighting the country’s emergence as a regional hub for trade, development finance, and industrial growth.
During the 32nd Annual Meetings of the African Export-Import Bank (Afreximbank) in Abuja, Minister Edun emphasized Nigeria’s strong partnership with Afreximbank, highlighting it as a model for effective collaboration between governments and development finance institutions. He noted that Nigeria has secured over $52 billion in Afreximbank financing, with interventions in key sectors like energy, infrastructure, healthcare, and SME development.
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Edun also highlighted Nigeria’s formal adoption of the Pan-African Payment and Settlement System (PAPSS) as a significant step toward intra-African trade and financial independence, allowing Nigerian businesses to settle cross-border transactions in local currencies. He urged the Nigerian private sector to leverage Afreximbank’s instruments to expand market access and scale impact.
The Afreximbank Annual Meetings brought together public and private sector leaders to discuss trade integration, financing solutions, and industrial growth across Africa. With these strategic partnerships and innovative solutions, Nigeria is positioned to play a leading role in shaping the continent’s economic future.
