National Economy
Monday, June 23, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Lead-In

Nigeria Secures 60% Share Of Afreximbank’s $30bn Energy Funding

by Caleb Owaise
1 year ago
in Lead-In
Reading Time: 2 mins read
Oramah
Share on FacebookShare on TwitterShare on Telegram

In a significant development for Africa’s energy landscape, the African Export-Import Bank (Afreximbank) has revealed that Nigeria stands as one of the largest beneficiaries, securing approximately 60 per cent of its $30 billion funding allocated to the continent’s energy sector.

Speaking at the 7th Nigeria International Energy Summit (NIES 2024) in Abuja, Prof. Benedict Oramah, President of Afreximbank, highlighted Nigeria’s pivotal role in the bank’s energy financing endeavors.

Oramah addressed attendees on the theme: “Sustainable Strategies for Energy Leadership: Navigating Security, Transition and Finance in a Changing World.”

“The support provided to the sector by Afreximbank exceeds $30 billion. Nigeria has been one of the largest beneficiaries, accounting for almost 60 per cent of the total funding allocated to the sector,” stated Prof. Oramah.

You May Like

CPS: PenCom, OHCSF Plan Gratuity Scheme For Civil Servants

CAC To Review Service Fees From August 1

Acknowledging Africa’s energy infrastructure deficit, Oramah, represented by Haytham Eimaayergi, Executive Vice President at Global Trade Bank (GTBA), emphasised the continent’s potential to leapfrog traditional energy systems and embrace more efficient renewable energy solutions.

Furthermore, he noted the impact of reduced international bank support on oil and gas exploration and production, emphasising the need for adequate funding resources under African control.

“Our aspirations for energy security and transition remain aspirations unless we have access to sufficient funding resources that we control,” Oramah emphasised.

He elaborated on Afreximbank’s commitment to establishing the Africa Energy Bank, aiming to shape the continent’s energy landscape through strategic partnerships with African and international financial institutions and investors. The Bank will focus on providing sustainable financing for the oil and gas sector.

In related developments, Oramah disclosed that Afreximbank and the Africa Petroleum Producer Organisation (APPO) are in the final stages of establishing the Africa Energy Bank under a multilateral financial institution agreement.

Secretary- general of APPO,Dr. Omar Ibrahim, announced that the decision on the bank’s location, among seven candidate countries including Nigeria, Algeria, Egypt, Ghana, South Africa, Benin Republic, and Cote d’Ivoire, would be made by the end of the first quarter of 2024.

 

Tags: AfreximbankEnergy FundingNigeria Secures 60%
ShareTweetShare
Previous Post

CBN To Resolve Forex Backlog Within Days

Next Post

Dire Consequences Of Climate Change Persist In Nigeria

ANOTHER GOOD READ

CPS: PenCom, OHCSF Plan Gratuity Scheme For Civil Servants
Lead-In

CPS: PenCom, OHCSF Plan Gratuity Scheme For Civil Servants

13 hours ago
CAC To Review Service Fees From August 1
Lead-In

CAC To Review Service Fees From August 1

13 hours ago
FG Launches National Plan To Curb CNG Price Fluctuations
Lead-In

FG Launches National Plan To Curb CNG Price Fluctuations

13 hours ago
SEC Unveils Crypto Smart Campaign To Regulate Stablecoins
Lead-In

SEC Unveils Crypto Smart Campaign To Regulate Stablecoins

13 hours ago
Manufacturers Worry As Nigeria’s Economy Now 57% Service-driven
Cover

Manufacturers Worry As Nigeria’s Economy Now 57% Service-driven

13 hours ago
OPEC Output Hike To Stay Till July
Lead-In

OPEC Output Hike To Stay Till July

1 week ago
Next Post
Dire Consequences Of Climate Change Persist In Nigeria

Dire Consequences Of Climate Change Persist In Nigeria

Most Recent

Nigeria’s Flag Team Set For Historic African Championship In Egypt

Nigeria’s Flag Team Set For Historic African Championship In Egypt

June 23, 2025
Akwa Ibom Govt  Dissolves Boards Of Akwa United,Others

Akwa Ibom Govt Dissolves Boards Of Akwa United,Others

June 23, 2025
Nwabali, Car Rental Company At Loggerheads After Father’s Funeral

Nwabali, Car Rental Company At Loggerheads After Father’s Funeral

June 23, 2025
Enugu Intensifies Plans For 23rd National Sports Festival

Enugu Intensifies Plans For 23rd National Sports Festival

June 23, 2025
Gaming, Gambling Addiction, A Growing Societal Burden Needing Urgent Attention

Gaming, Gambling Addiction, A Growing Societal Burden Needing Urgent Attention

June 23, 2025
Nigeria’s Aviation Future: Between Domestic Growth And National Pride

Nigeria’s Aviation Future: Between Domestic Growth And National Pride

June 23, 2025
Orijin Electrifies Ojude Oba With Vibrant Celebration Of Culture

Orijin Electrifies Ojude Oba With Vibrant Celebration Of Culture

June 23, 2025
Business Africa Elects NECA DG Into Executive Council

Business Africa Elects NECA DG Into Executive Council

June 23, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy