Tinubu Confers GCON on Afreximbank President Oramah, Hails Bank’s Role in Africa’s Transformation

By Joycelyn Ellakeche Adah

President Bola Tinubu has conferred Nigeria’s second-highest national honour, the Grand Commander of the Order of the Niger (GCON), on outgoing President of Afreximbank, Prof. Benedict Oramah, recognizing a decade of leadership that repositioned the bank as a central force in Africa’s trade and development narrative.

Speaking at the 32nd Afreximbank Annual Meetings in Abuja, President Tinubu praised the bank as a symbol of Africa’s sovereignty and resilience, crediting Oramah for steering its transformation.

Under his leadership, the bank’s assets grew from $5 billion to over $37 billion, with $250 billion mobilised for trade and development, including $52 billion invested in Nigeria alone.

The President highlighted landmark projects supported by Afreximbank, including the Dangote Refinery expansion, the African Medical Centre of Excellence in Abuja, and the Pan-African Payment and Settlement System (PAPSS).

He urged African countries to adopt PAPSS, citing its role in enhancing economic integration and shielding the continent from global financial shocks.

Tinubu tied the bank’s support to Nigeria’s recent economic reforms, including the removal of fuel subsidies and currency unification, which he said have begun yielding results: 3% GDP growth in 2024, increased oil output, and a reduction in debt service from 96% to 65% of revenue.

He also referenced improved access to consumer credit, student loans, revitalised healthcare clinics, and expanded digital infrastructure.

Looking ahead, Tinubu announced key pan-African initiatives: the African Energy Bank, to be headquartered in Abuja; scaled up fertilizer production to ensure food security; and the $3.5 billion Africa Trade Centre to promote SME development.

“Inter-African trade is our pathway to industrialization and jobs,” he said.

While conferring the GCON honour, Tinubu described Oramah as “an architect of African resilience,” acknowledging his legacy in advancing healthcare sovereignty, supporting solar infrastructure, and championing Africa’s economic self reliance.

“History remembers those who shape their destiny,” the President said, closing his address with a call for continental unity and continued investment in African-led development.