{"id":1717,"date":"2026-07-08T12:18:24","date_gmt":"2026-07-08T12:18:24","guid":{"rendered":"https:\/\/consumerconnectng.com\/?p=1717"},"modified":"2026-07-08T13:03:45","modified_gmt":"2026-07-08T13:03:45","slug":"nigeria-tasks-afreximbank-on-mobilising-resources-for-africas-industrialisation-drive","status":"publish","type":"post","link":"https:\/\/consumerconnectng.com\/?p=1717","title":{"rendered":"Nigeria tasks AfreximBank on mobilising resources for Africa&#8217;s industrialisation drive"},"content":{"rendered":"<p>*<strong><em>President Bola Ahmed Tinubu charges the leadership of the African Export-Import Bank (Afreximbank) to intensify efforts at mobilising and deploying the continent&#8217;s vast human, financial and natural resources for the collective economic advancement of the people<\/em><\/strong><\/p>\n<p>Isola Moses | ConsumerConnect<\/p>\n<p>President Bola Ahmed Tinubu Tuesday, July 7, 2026, tasked the leadership of the African Export-Import Bank (Afreximbank) on intensifying efforts at mobilising and deploying the continent&#8217;s vast human, financial and natural resources for the collective economic advancement of Africans.<\/p>\n<p>Tinubu stressed that Africa&#8217;s drive to industrialisation could not remain a subject of theoretical discussion.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"Qm3lMBexRu\"><p><a href=\"https:\/\/consumerconnectng.com\/?p=1727\">CBN clarifies all N100 banknotes remain legal tender for transactions<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cCBN clarifies all N100 banknotes remain legal tender for transactions\u201d \u2014 Consumer Experience Is A Top Priority\" src=\"https:\/\/consumerconnectng.com\/?p=1727&amp;embed=true#?secret=JSGxz2PAzs#?secret=Qm3lMBexRu\" data-secret=\"Qm3lMBexRu\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>The Nigerian leader said this during a visit by a delegation from Afrieximbank.<\/p>\n<p>Dr. George Elombi, President and Chairman of the Board of AfreximBank, led the visiting delegation to the State House, in Abuja, FCT.<\/p>\n<p><strong>Top measures to curb, corruption, ensure economic survival, by Tinubu<\/strong><\/p>\n<p>President Tinubu said his administration&#8217;s recent economic reforms, such as ending the fuel subsidy and tackling multiple exchange rates, were essential steps to combat corruption and ensure economic survival.<\/p>\n<p>Tinubu also emphasised that Africa possesses enormous potential, and must move beyond endless conversations about development to practical actions that drive industrial growth, expand trade, create jobs, add value, and improve the living standards of its people.<\/p>\n<p>According to him, a structured financial backing and reliable infrastructure are essential for building the continent.<\/p>\n<p>Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, Tuesday stated President Tinubu said: \u201cThe conscience and the future of Africa depend on what you and your team can do and will do for Africa as a whole, and the time has come for us to start doing things together as Africans.<\/p>\n<p>\u201cWe have what it takes to build this continent. Do we continue to exploit and export raw materials without value addition? That answer is no.&#8221;<\/p>\n<p>The President stated: &#8220;We have solid mineral deposits such as lithium and others that can be used, and you, as the financial partner, should be able to come with investment guarantees for the production and value addition in batteries and other manufacturing ecosystems.&#8221;<\/p>\n<p><strong>Introducing Ministry of Livestock Development&nbsp; <\/strong><\/p>\n<p>Speaking on the age-old farmer-herder clashes in Nigeria, President Tinubu told the visitors that his administration has turned the longstanding conflict between farmers and herders into an economic opportunity for citizens through the introduction of the Federal Ministry of Livestock Development.<\/p>\n<p>He declared: \u201cI created the Livestock Ministry to create economic opportunities for Africans.&nbsp; The cotton, ginnery and garment industries are job creators.<\/p>\n<p>&#8220;If we partner well and incorporate these ideas and do less talking and really put our heads into developmental programmes, we can turn it around.&#8221;<\/p>\n<p>President Tinubu canvassed the need for Afreximbank to synergise with the Bank of Agriculture (BoA), make more investments in the production of crops, such as cocoa, palm kernel, and palm oil, among others.<\/p>\n<p>This is to ensure that agricultural value chains translate into tangible benefits for Nigeria&#8217;s future.<\/p>\n<p>In his remarks, Sen. John Owan Enoh, Honourable Minister of State for Industry, explained the President&#8217;s bold economic diversification policies, describing the administration&#8217;s Eight-Point Renewed Hope Agenda as a transformative blueprint that is repositioning Nigeria for sustainable economic growth, industrial expansion, and shared prosperity.<\/p>\n<p>Enoh said President Tinubu&#8217;s commitment to industrialisation, particularly through the development of the solid minerals sector, oil and gas, manufacturing, agriculture, the digital economy, and value-added exports, is laying the foundation for a resilient economy less dependent on crude oil revenues.<\/p>\n<p>The President and Chairman of Afreximbank, Dr. Elombi, said he, and his team were at the State House to thank the President for his support, which led to his election as the President of the Bank, as well as to brief him on the bank\u2019s portfolios and activities in Nigeria.<\/p>\n<p>The Bank, Elombi stated, has investments across trade, agricultural processing, value chain and healthcare.<\/p>\n<p>He specifically, informed President Tinubu of the continental Bank\u2019s efforts at reversing health tourism in Africa.<\/p>\n<p>Elombi also highlighted that AfreximBank had invested between 15 and 20 billion Dollars in the Nigerian economy over the last five years.<\/p>\n<p>He, therefore, invited the President to visit the African Medical Centre of Excellence (AMCE) located in Abuja.<\/p>\n<p>Elombi also told the President that Afreximbank has committed US$2 billion to support Nigeria&#8217;s cotton and garment industry.<\/p>\n<p>Besides, Elombi briefed the Nigerian President on the Bank&#8217;s investment, especially in the ongoing Lagos-Calabar Coastal Highway and the Kano-Maradi Railway line, in Northern Nigeria.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>*President Bola Ahmed Tinubu charges the leadership of the African Export-Import Bank (Afreximbank) to intensify efforts at mobilising and deploying the continent&#8217;s vast human, financial&hellip;<\/p>\n","protected":false},"author":2,"featured_media":1687,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"_FSMCFIC_featured_image_caption":"Photo: State 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rel=\"category\">Regulators<\/a>","tag_info":"Regulators","comment_count":"0","_links":{"self":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/1717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1717"}],"version-history":[{"count":3,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/1717\/revisions"}],"predecessor-version":[{"id":1734,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/1717\/revisions\/1734"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/media\/1687"}],"wp:attachment":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}