President Bola Tinubu has declared that Nigeria is undergoing a significant socio-economic transformation, driven by policies designed to empower citizens and stimulate enterprise, including the rollout of the national consumer credit scheme that has already benefited over 100,000 Nigerians.
Speaking at the 32nd Annual Meetings of the African Export-Import Bank (Afreximbank) in Abuja on Friday, the President said another 400,000 Nigerians are already lined up to benefit from the next round of the consumer credit initiative.
“Our landmark student loan programme ensures no child is denied higher education due to financial hardship,” Tinubu said. “We have spent 45.9 billion naira in healthcare to upgrade 8,800 primary health centres, improving maternal care and diagnostics in neglected communities. We are deploying thousands of fibre-optic cables to promote digital inclusion, bridging connectivity gaps and powering innovation.”
Highlighting achievements in infrastructure, Tinubu noted the completion of 279 roads, with 65 currently under construction and 260 rural road projects underway. He cited key infrastructure projects such as the Lagos–Calabar Coastal Highway, Sokoto–Badagry Superhighway, and the Abuja–Kaduna–Kano Road as transformative efforts to enhance mobility and regional economic integration.
At the ceremony, the President also conferred Nigeria’s second-highest national honour—Grand Commander of the Order of the Niger (GCON)—on Prof. Benedict Oramah, the outgoing President and Chairman of Afreximbank, in recognition of his decade-long contributions to African trade and Nigeria’s economic interests.
“Today is your day, Prof. Oramah,” Tinubu said. “I have listened to the accounts and reports you read eloquently, which also consist of lessons for us, your friends. I have the honour and privilege of conferring on you one of the highest recognitions of our country, Grand Commander of the Order of the Niger (GCON).”
In a statement released by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu praised Prof. Oramah for significantly increasing Afreximbank’s assets—from $5 billion to over $37 billion—and for championing the continent’s development agenda.
“Afreximbank, under Professor Benedict Oramah’s steadfast leadership, has grown its assets from 5 billion dollars to over 37 billion dollars. His decade of leadership saw the bank champion Africa’s pandemic response, drive industrialisation, and support the AfCFTA and the continent’s creative economy. His legacy is one of generational impact,” Tinubu said.
Prof. Oramah, who was part of the bank’s founding team in 1993, has overseen milestone achievements including financial support for the Dangote Refinery, healthcare infrastructure, agricultural development, and the supply of 400 million Covid-19 vaccine doses across Africa.
This year’s Afreximbank summit, themed “Building the Future on Decades of Resilience,” marks the end of Oramah’s tenure and comes at a pivotal moment for intra-African trade, continental integration, and financial inclusion.
