{"id":7601,"date":"2026-07-09T13:19:43","date_gmt":"2026-07-09T13:19:43","guid":{"rendered":"https:\/\/stakebridgeirpr.com\/media\/?p=7601"},"modified":"2026-07-09T13:40:05","modified_gmt":"2026-07-09T13:40:05","slug":"fg-urges-afreximbank-to-deepen-africas-industrial-transformation","status":"publish","type":"post","link":"https:\/\/stakebridgeirpr.com\/media\/fg-urges-afreximbank-to-deepen-africas-industrial-transformation\/","title":{"rendered":"FG Urges Afreximbank To Deepen Africa\u2019s Industrial Transformation"},"content":{"rendered":"

By Johnson Emmanuel<\/strong><\/p>\n

 <\/p>\n

President Bola Ahmed Tinubu has urged the African Export-Import Bank (Afreximbank) to intensify efforts towards accelerating Africa\u2019s industrialisation through investments in manufacturing, value addition and productive sectors.<\/p>\n

President Tinubu made the call at the State House, Abuja, while receiving a delegation led by Afreximbank President and Chairman of the Board, Dr George Elombi. The President said Africa must move beyond exporting raw materials by developing industries that create jobs, expand production capacity and improve living standards.<\/p>\n

The engagement focused on strengthening collaboration between Nigeria and Afreximbank across manufacturing, agriculture, infrastructure, healthcare and value-chain development.<\/p>\n

DECISION HIGHLIGHT<\/strong><\/p>\n

The meeting reinforced a policy direction centred on converting Africa\u2019s natural resources into industrial assets through investment guarantees, local processing and regional trade financing.<\/p>\n

The President\u2019s message to Afreximbank was that development finance institutions must play a larger role in moving African economies from resource extraction towards manufacturing-led growth.<\/p>\n

DECISION MEMO\u00a0<\/strong><\/p>\n

Africa\u2019s industrialisation challenge has largely been defined by a gap between resource availability and domestic production capacity. Despite abundant agricultural and mineral resources, many African economies continue to export raw materials while importing finished products.<\/p>\n

President Tinubu argued that the continent\u2019s economic future depends on building production ecosystems around its resources, citing minerals such as lithium as opportunities for developing battery manufacturing and related industries.<\/p>\n

\u201cThe time has come for us to start doing things together as Africans,\u201d he said, stressing that value addition must replace dependence on raw commodity exports.<\/p>\n

The President\u2019s engagement with Afreximbank aligns with Nigeria\u2019s broader economic reform agenda, which includes exchange rate reforms, industrial expansion and efforts to attract investment into productive sectors.<\/p>\n

A key area of focus was agriculture and agro-processing. President Tinubu urged Afreximbank to deepen collaboration with the Bank of Agriculture to support cocoa, palm oil, palm kernel and other agricultural value chains.<\/p>\n

The creation of the Federal Ministry of Livestock Development was also presented as part of a strategy to convert farmer-herder tensions into economic opportunities through livestock production, cotton processing and garment manufacturing.<\/p>\n

For Afreximbank, Nigeria remains a major investment market. Dr. Elombi disclosed that the bank had invested between $15 billion and $20 billion in Nigeria over the past five years, with additional commitments towards industrial and infrastructure projects.<\/p>\n

However, translating financing commitments into industrial outcomes remains the central challenge. Investment must be matched with effective implementation, infrastructure capacity, regulatory stability and private sector participation.<\/p>\n

DATA BOX<\/strong><\/p>\n