The Nigerian Content Development and Monitoring Board (NCDMB) yesterday disclosed that the African Export-Import Bank (Afreximbank) had invested more than $42 billion in support of African businesses between 2016 and 2020.
President of Afreximbank, Professor Benedict Oramah, stated that the continental multilateral institution was presently the largest lender to the multi-million dollar 650,000 barrels per day Dangote Refinery currently under construction at the Lekki Free Trade Zone, Lagos.
They spoke at a forum with the theme, “Evolving a Pan-African Strategy Towards Sustainable Funding of Africa Oil and Gas Projects,” targeted at oil and gas practitioners especially member nations of the African Petroleum Producers Organisation (APPO).
Speaking yesterday at the maiden edition of the African Local Content Investment Forum (ALCIF) in Lagos, Executive Secretary of NCDMB, Mr. Simbi Wabote, described Afreximbank as one bright spot in the continent mandated to finance and promote intra and extra-African trade.
Wabote recalled that Afreximbank signed a $1.04 billion facility with the Nigerian National Petroleum Company (NNPC) Limited to finance the exploration of petroleum during the second intra-Africa trade fair which held in Durban, South Africa, few days after the completion of Climate Change Conference (COP-26) in Glasgow, Scotland.