President Bola Ahmed Tinubu has reaffirmed Nigeria’s commitment to Africa’s economic transformation, announcing key initiatives to deepen regional integration and energy independence.
Speaking at the 2025 Afreximbank Annual Meetings in Abuja, President Tinubu described Nigeria as a “fitting host” of the high-level gathering, citing its status as Africa’s most populous nation and a strong advocate for continental unity and progress.
He hailed the leadership of Afreximbank President, Professor Benedict Oramah, whose tenure has seen the bank’s balance sheet grow from US$5 billion to US$37 billion. President Tinubu noted that Nigeria alone had received more than US$52 billion in support from the bank, benefiting strategic sectors such as energy, healthcare, infrastructure, manufacturing, and the creative economy.
In a major policy announcement, the President unveiled plans to launch the Africa Energy Bank in collaboration with Afreximbank, with an initial capital base of US$5 billion. He said the bank would help secure Africa’s energy future and fuel its industrial development.
President Tinubu also confirmed Nigeria’s formal adoption of the Pan-African Payment and Settlement System (PAPSS), a move aimed at boosting intra-African trade by reducing reliance on foreign currencies. He urged other African nations to embrace the platform to fast-track regional financial integration and economic sovereignty.
“Nigeria is ready to lead by example. The time for action is now,” Tinubu said.
