Afreximbank disbursed $20 billion to Buhari regime in 5 years - The Naija Weekly

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Friday, July 2, 2021

Afreximbank disbursed $20 billion to Buhari regime in 5 years


President Muhammadu Buhari’s regime has received about $20 billion in disbursements from Afreximbank, says the bank’s president Benedict Oramah.

Mr Oramah announced on Thursday that Afreximbank would $2.5 billion in Nigeria for infrastructural development when he led a delegation of the bank to visit Boss Mustapha, secretary to the government of the federation.

“We decided that giving importance of Nigeria to the bank in terms of the share of membership of the bank, the pivotal role Nigeria is playing in the bank, and also the extent of activities we undertake in Nigeria.

“We decided that we should be coming periodically to brief the SGF that through him also, such briefing can be extended to the different agencies of government.

“So that as we implement our work, we will continue to receive the support we need,” said Mr Oramah.

According to Oramah, Afreximbank, in the past five years, has done cumulative disbursements that close to $20 billion in Nigeria.

“Today, we have the current transactions that on the implementation in Nigeria amount to $3.66 billion. We have another $2.5 billion in the pipeline,” he stated.

He said his visit was to brief Mr Mustapha on other intervention programmes in establishing the African Medical Centre for Excellence and African quality assurance centre.

He explained that it was also to intimate him on the plans to support Nigeria to begin to manufacture vaccines given the present COVID-19 situation in the country.

In his response, Mr Mustapha said, “Supporting the Nigerian economy in the way you are doing as evidenced in the initiatives that you have enumerated this afternoon.”


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