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Afreximbank: We’ve Disbursed $50bn Into Nigeria In Last Decade

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Afreximbank

Afreximbank: We’ve Disbursed $50bn Into Nigeria In Last Decade

Afreximbank: We’ve disbursed $50bn into Nigeria in last decade. He said the sectors included energy, infrastructural, pix: manufacturing, healthcare, transport and financial services.

The African Export-Import Bank (Afreximbank) says it has disbursed 50 billion dollars into various sectors of  Nigeria in the last 10 years.

Benedict Oramah disclosed this at the commissioning of the Afreximbank African Trade Centre (AATC) in Abuja on Thursday. Mr Oramah said the sectors included energy, infrastructural, manufacturing, healthcare, transport and financial services.

He added that in the last 10 years, the bank’s support to the Nigerian financial services industry amounted to 19 billion dollars. “This has  helped  to deepen and expand the sector and elevated their impact on the local economy.”

According to Mr Oramah,  the bank is set to commission a 750 million dollar 500-bed African Medical Centre of Excellence (AMCE)  in Abuja in June.

He said the 500-bed medical centre was a quaternary medical facility built to avail top-class care to Africans in the vital areas of oncology, cardiology, and haematology.

Mr Oramah said other interventions by the bank in Nigeria included the operationalisation of the African Quality Assurance Centre (AQAC) in Ogun State.

He said the centre was designed to ease quality infrastructure constraints of exporting agricultural and value-added goods into regional and international markets.

Mr Oramah said similar projects were under development in the states of Imo and Kaduna.

He said in 2024, Nigeria was selected to host the Africa Energy Bank, which was established by Afreximbank and the African Petroleum Producer’s Organisation (APPO).

Mr Oramah explained that the bank was also expected to address the financing constraints in the oil, gas and other energy sectors.

“The Energy Bank will position Nigeria as the continental hub for mobilising energy financing.”

He added that in Ogun, a special economic zone was being developed by Afreximbank’s investee company, Arise Integrated Industrial Platform.

“This over 300 million dollar project is being developed to promote export manufacturing and similar projects are expected in Cross Rivers, Imo, Enugu and Kano States.”

Mr Oramah said the bank’s financing support to Nigeria had also helped to boost the oil refining capacity to about 1.2 million barrels per day.
He added that it also helped to boost urea fertiliser production to  7.5 million tonnes per annum, up from under four million tonnes in 2019.

“We expect urea capacity to rise to about 11 million tonnes by 2027 when Dangote Petrochemical company opens the new lines under development.
“These are remarkable and are contributing significantly to Nigeria’s non-oil export revenues.”

He said Afreximbank was also investing in growing the country’s creative sector, through credit lines support, capacity-building initiatives and market access opportunities.

Mr Oramah said recently the bank opened a dedicated 200 million facility to support the sector under an ongoing partnership with the Federal Ministry of Culture and Creative Industry.

He said the support had helped Nigeria to boost the export of its creative content to the rest of Africa and the world while boosting youth employment.

Afreximbank

Afreximbank

“These projects and interventions add to the significant investments committed by Afreximbank since its inception some 32 years ago.

“ I am most pleased to put on record that the relationship between the Bank and the Federal Government of Nigeria has been truly mutually beneficial and most cordial.

“Over the last three decades, successive governments have accorded unflinching support to Afreximbank by responding most positively to capital calls.

“Also creating a congenial environment for its smooth operations while providing the bank significant domestic policy support that helped to execute many of the development programmes in Nigeria.”

Economy

Okpebholo Threatening Me With Violence, I’ll Fight Back Says Obaseki

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Obaseki

Okpebholo Threatening Me With Violence, I’ll Fight Back Says Obaseki

Okpebholo threatening me with violence, I’ll fight back says Obaseki. Godwin Obaseki, the immediate past governor of Edo, has accused Monday Okpebholo, his successor, of threatening him with violence. Obaseki spoke during the weekend at an event in London, the United Kingdom.

BACKGROUND
Since assuming office in November 2024, Okpebholo has initiated a series of actions aimed at scrutinising Obaseki’s tenure.

He first constituted a 14-member committee to investigate the assets, liabilities, contracts, and financial decisions made under Obaseki.

Okpebholo then expanded the scrutiny to the state civil service, ordering a probe into all recruitments conducted between May and November 2024, alleging a violation of due process.

Last week, Okpebholo asked the federal government to repatriate Obaseki to answer questions over public funds linked to the controversial Museum of West African Art (MOWAA) project.

‘OKPEBHOLO THREATENING ME’

Obaseki said the governor is threatening him with violence and allegedly sent thugs to attack him in the UK.

“Those who live by the sword will die by the sword,” Obaseki said. “And to tell the governor, Okpebholo, I don’t know him; I have never met him. When you start with violence, you will reap violence.

“For one year since I left office, I didn’t say one word. I decided to respect myself and allow them to try [in governance] as well. Go and find out, you won’t see one thing I said about his government.”

He accused Okpebholo’s government of being behind the attack on diplomats during the exhibition in MOWAA.

“As if that was not enough, the government paid people to come to Manchester to attack me,” he said.
“Who has started this violence? Is it me? Last week, this governor held a disgraceful press conference in which he threatened me not to come to Benin.

Obaseki

Obaseki

“They have been threatening violence. So if I respond, nobody should hold me responsible. “I can’t leave myself empty to be hurt and attacked by deranged people.

“So I am going to fight back. I will fight back. I didn’t start the fight. They are afraid. They know they did not win the election.”

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Economy

Jigawa: 9,600 Teachers Register For Special Training

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Teachers Register For Special Training

Jigawa: 9,600 Teachers Register For Special Training

Jigawa: 9,600 teachers register for special training. No fewer than 9,600 teachers under the Jigawa State Universal Basic Education Board (SUBEB) registered for a competency test to determine the specific training required to improve their skills and enhance teaching outcomes in the state.

The Executive Chairman of the Board, Professor Haruna Musa, revealed this while briefing journalists on the purpose of the examination, adding that 12,000 teachers were expected to register for the exam.

He explained that the state government, under the leadership of Governor Malam Umar Namadi, was committed to repositioning the state education sector as a key foundation for sustainable development, in line with its “12-Point Agenda.”

Prof. Haruna noted that while the government has been spending significant resources to improve educational infrastructure, meaningful learning improvements cannot be achieved without also enhancing the capabilities of teachers.

“Based on that, the State Executive Council approved for the board to organise a competency test for all teachers. This will enable us to understand the kind of training each teacher requires to improve his or her skills”.

“Out of the 9,600 teachers registered for the exam, over 70% have never attended any capacity-building training since they were employed, including some with over 15 years of service,” the Chairman added.

Teachers Register For Special Training

Teachers Register For Special Training

He stated that after the exam, the teachers will be categorised into three groups: Group A, those with both knowledge and teaching skills; Group B, those with knowledge but lacking teaching skills; and Group C, those lacking both knowledge and teaching skills.

“Each group will be offered specialised training. Those in Group C will undergo intensive training and subsequent examinations for a period to ensure they are equipped with the required knowledge and skills”.
“For those with slower learning uptake, we will attach them to competent teachers within their schools for ongoing guidance and mentorship,” Prof Haruna said.

He further stated that the project is not about retrenchment, but his primary goal is to enhance teachers’ capacity for better learning outcomes within the state’s basic education sector.

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PFA: Leadway Pensure Leverages Innovations For Quality Service Delivery

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Leadway Pensure

PFA: Leadway Pensure Leverages Innovations For Quality Service Delivery

PFA: Leadway pensure leverages innovations for quality service delivery. A Pension Fund Administrator (PFA), Leadway Pensure said, it is leveraging innovation to escalate quality

service delivery to its retirement savings account (RSA) holders. This milestone marks 20 years of trust, exceptional service delivery, and value creation as it celebrates its anniversary. It highlights two decades of dedication to protecting the financial wellness of Nigerian workers.

Over the last 20 years, the PFA has served thousands of customers across Nigeria and beyond, standing as a clear testament to its commitment to providing financial stability at various stages of workers’ career journeys.

Speaking on this remarkable achievement, MD/CEO, Leadway Pensure PFA, Olusakin Labeodan, stated that: “As we celebrate 20 years of Leadway Pensure PFA, this milestone is more than a celebration of longevity, it is a tribute to trust, service and innovation.

From the very beginning, our mission has been very clear, to deliver a pension system without barriersOver two decades, we have transformed this vision into reality by simplifying pension access, embracing cutting-edge technology, and ensuring our services are always within reach. With a nationwide presence, a robust mobile platform, and the AI-powered assistant LISA, we have made pension services accessible to eligible Nigerians.

“We have supported countless customers in achieving life goals, from retirement to home ownership, by ensuring access, clarity and care at every step. This is a testament to the strong relationships and legacy we have built with every customer. Trust is at the heart of our service, propelling us to uphold world-class standards and earning us global certifications such as ISO/IEC 27001:2022 for information security, a mark of our unwavering commitment to safeguarding our customers’ funds. ”

Leadway Pensure

Leadway Pensure

Looking ahead, the company said, it is committed to promoting youth-focused financial literacy, growing personal pension plans and strengthening customer engagement across every stage of the pension journey.

“The next years and beyond will be shaped by the same dedication that brought us this far, a future-forward mindset, a culture of excellence, and an unyielding promise to stand by our customers every step of the way,” Olusakin concluded.

As it commemorates 20 years of service, Leadway Pensure reaffirms its commitment to simplifying retirement planning, delivering consistent value, and driving financial inclusion across Nigeria.

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