Tinubu Urges Afreximbank to Accelerate Resource Mobilisation for Africa’s Industrialisation
President Bola Tinubu has called on Afreximbank to intensify efforts in mobilising resources to accelerate Africa’s industrialisation, during a meeting with the bank’s leadership in Abuja.
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President Bola Tinubu has urged the African Export-Import Bank (Afreximbank) to accelerate resource mobilisation to drive Africa’s industrialisation, emphasising the need for expanded financial support across the continent. The directive came during a meeting with a delegation from Afreximbank led by its President and Chairman of the Board, Dr. George Elombi, at the State House in Abuja on July 7, 2026.
The engagement underscored Nigeria’s strategic partnership with Afreximbank, highlighted by the bank’s $20 billion commitment to the Nigerian economy over the past five years, as reported by This Day. The investment reflects Afreximbank’s growing role in financing infrastructure, trade, and industrial projects across Africa’s largest economy.
Tinubu’s appeal aligns with broader continental goals to deepen industrial capacity, reduce import dependency, and enhance value addition in key sectors. By leveraging Afreximbank’s financial instruments, the president stressed the potential to scale regional integration and strengthen intra-African trade under the African Continental Free Trade Area (AfCFTA) framework.
The bank’s sustained engagement in Nigeria signals confidence in the country’s reform trajectory and its potential as an industrial hub. With industrialisation remaining a cornerstone of Nigeria’s economic diversification agenda, the call for accelerated financing underscores the urgency of bridging funding gaps in manufacturing, energy, and transportation.