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Afreximbank disburses $50bn into Nigeria in last decade – Oramah

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The African Export-Import Bank (Afreximbank) has disbursed 50 billion Dollars into various sectors of Nigeria in the last 10 years.

The President and Chairman of Afreximbank, Prof. Benedict Oramah disclosed this at the Commissioning of the Afreximbank African Trade Centre (AATC) in Abuja on Thursday.

Oramah said the sectors included energy, infrastructural, manufacturing, healthcare, transport and financial services.

He added that in the last 10 years, the bank’s support to the Nigerian financial services industry amounted to 19 billion dollars.

“This has helped to deepen and expand the sector and elevated their impact on the local economy.”

According to Oramah, the bank is set to commission a 750 million dollar 500-bed African Medical Centre of Excellence (AMCE) in Abuja in June.

He said the 500-bed medical centre was a quaternary medical facility built to avail top-class care to Africans in the vital areas of oncology, cardiology, and haematology.

Oramah said other interventions by the bank in Nigeria included the operationalisation of the African Quality Assurance Centre (AQAC) in Ogun State.

He said the centre was designed to ease quality infrastructure constraints of exporting agricultural and value-added goods into regional and international markets.

Oramah said similar projects were under development in the states of Imo and Kaduna.

He said in 2024, Nigeria was selected to host the Africa Energy Bank, which was established by Afreximbank and the African Petroleum Producer’s Organisation (APPO).

Oramah explained that the bank was also expected to address the financing constraints in the oil, gas and other energy sectors.

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“The Energy Bank will position Nigeria as the continental hub for mobilising energy financing.”

He added that in Ogun, a Special Economic Zone was being developed by Afreximbank’s investee company, Arise Integrated Industrial Platform.

“This over 300 million dollar project is being developed to promote export manufacturing and similar projects are expected in Cross Rivers, Imo, Enugu and Kano States.”

Oramah said the bank’s financing support to Nigeria had also helped to boost the oil refining capacity to about 1.2 million barrels per day.

He added that it also helped to boost urea fertiliser production to 7.5 million tonnes per annum, up from under four million tonnes in 2019.

“We expect urea capacity to rise to about 11 million tonnes by 2027 when Dangote Petrochemical company opens the new lines under development.

“These are remarkable and are contributing significantly to Nigeria’s non-oil export revenues.”

He said Afreximbank was also investing in growing the country’s creative sector, through credit lines support, capacity-building initiatives and market access opportunities.

Oramah said recently the bank opened a dedicated 200 million facility to support the sector under an ongoing partnership with the Federal Ministry of Culture and Creative Industry.

He said the support had helped Nigeria to boost the export of its creative content to the rest of Africa and the world while boosting youth employment.

“These projects and interventions add to the significant investments committed by Afreximbank since its inception some 32 years ago.

“ I am most pleased to put on record that the relationship between the Bank and the Federal Government of Nigeria has been truly mutually beneficial and most cordial.

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“Over the last three decades, successive governments have accorded unflinching support to Afreximbank by responding most positively to capital calls.

“Also creating a congenial environment for its smooth operations while providing the bank significant domestic policy support that helped to execute many of the development programmes in Nigeria.”(NAN)

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Catholic Church Elect First American Pope

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Catholic cardinals have elected Robert Prevost, the first Pope from the United States of America, who has taken the new name Pope Leo XIV after the conclave decided in just four rounds of voting on Thursday.

Italian Cardinal Giuseppe Versaldi said it took cardinals only four rounds of voting to pick a new pope and that white smoke coming out of the Sistine Chapel chimney after a day’s voting is “a clear sign of the unity of the Church. ”

The Pontiff, picked even faster than his predecessor, Francis, appeared on the Vatican balcony amid enthusiastic cheers from thousands of faithful who packed St. Peter’s Basilica on Thursday to witness the historic event.

“May peace be with all of you,” he said from the Vatican balcony after paying tribute to his predecessor, Pope Francis, who gave his life to the service of humanity. He stressed that he wants to deliver his blessing to the people as Pope Francis did in his last appearance in St Peter’s Square.

After concluding his speech, the new Pope started reading a religious passage in Latin, paying homage to the saints and the Madonna. The pope continued with a message of peace and noted, “God loves us all, unconditionally”.

“Humanity needs Christ as a bridge to be reached by God and his love. Help us, and help each other, build bridges.

“Without fear, united hand in hand with God, we are the Disciples of Christ, and the world needs his light.

“Brothers and sisters dearest, this is the first greeting of Christ resurrected. I want to offer a greeting of peace to your families, all of you, wherever you are. May peace be with you,” he said.

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Chicago-born Prevost, 69, is seen as a reformer who worked for many years as a missionary in Peru before being made an archbishop there.

The cardinals strongly perceived that the new pope would need to carry forward Pope Francis’s legacy of reaching out to those on the margins and bring along with him a wide spectrum of those within the Church, including those with whom Pope Francis was sometimes at loggerheads.

Observers considered Cardinal Robert Prevost a candidate who could fulfil that role—someone who could be a bridge between different worlds.

The fact that the conclave decided in just four rounds of voting suggests that the cardinals agreed with that assessment.

Robert Prevost will be the 267th occupant of the throne of St Peter. Although he is the first American to fill the role of Pope, he is considered as much a cardinal from Latin America because of the many years he spent as a missionary in Peru before becoming an archbishop there.

Born in Chicago in 1955 to parents of Ecuadorian and French descent, Prevost served as an altar boy and was ordained as a priest in 1982. Although he moved to Peru three years later, he returned regularly to the US to serve as a pastor and a priest in his home city.

He has Peruvian nationality and is fondly remembered as a figure who worked with marginalised communities and helped build bridges. He spent 10 years as a local parish pastor and teacher at a seminary in Trujillo in northwestern Peru.

He is well known to cardinals because of his high-profile role as prefect of the Dicastery for Bishops in Latin America, which has the critical task of selecting and supervising bishops. Francis made him a cardinal less than two years ago.

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As Francis appointed 80% of the cardinals who took part in the conclave, it is unsurprising that someone like Prevost was elected, even if he was only recently appointed.

He will be seen as a figure who favoured the continuity of Francis’ reforms in the Catholic Church. Prevost is believed to have shared Francis’ views on migrants, the poor and the environment.

He will be fully aware of the divisions within the Catholic Church, and his Latin American background also represents continuity after a Pope who came from Argentina.

During his time as archbishop in Peru, he did not escape the sexual abuse scandals that have clouded the Church. However, his diocese fervently denied he had been involved in any attempted cover-up.

Before the conclave, Vatican spokesman Matteo Bruni said that during gatherings of the College of Cardinals in the days before the conclave they emphasised the need for a pope with “a prophetic spirit capable of leading a Church that does not close in on itself but knows how to go out and bring light to a world marked by despair”.

‎Top 10 Things to Know About the New Pope, Robert Francis Prevost

‎1. First American Pope

‎Pope Leo XIV, formerly Cardinal Robert Francis Prevost, is the first pope from the United States, born in Chicago, Illinois.

‎2. Elected as the 267th Pope

‎He was chosen after a swift two-day conclave, becoming the 267th leader of the Roman Catholic Church.

‎3. Age and New Namel

‎At 69 years old, he adopted the papal name Leo XIV upon his election.

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‎4. Deep Missionary Experience in Latin America

‎Prevost spent over a decade in Peru as a bishop and seminary educator, gaining respect for his pastoral leadership and cultural fluency.

‎5. Leader of the Augustinian Order

‎He led the Augustinians globally for over ten years, managing an international religious community.

‎6. Key Vatican Roles

Before becoming pope, he was Prefect of the Dicastery for Bishops and President of the Pontifical Commission for Latin America—two influential positions in Church governance.

‎7. Academic and Legal Scholar

‎He holds degrees in mathematics, theology, and canon law, and has taught canon law in Latin America.

‎8. Calm, Reform-Oriented Leader

‎Known for his consensus-building style, Pope Leo XIV is seen as a clear-headed reformer continuing the legacy of Pope Francis.

‎9. Advocate for Women’s Inclusion

‎He supports meaningful female participation in Church governance, emphasising their real impact within Vatican bodies.

‎10. Mission-Driven Papacy

‎Pope Leo XIV remains committed to missionary work, global outreach, and addressing challenging issues like clerical abuse with humility and resolve.

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National

Catholic Church Elect First American Pope

Published

on

Catholic cardinals have elected Robert Prevost, the first Pope from the United States of America, who has taken the new name Pope Leo XIV after the conclave decided in just four rounds of voting on Thursday.

Italian Cardinal Giuseppe Versaldi said it took cardinals only four rounds of voting to pick a new pope and that white smoke coming out of the Sistine Chapel chimney after a day’s voting is “a clear sign of the unity of the Church. ”

The Pontiff, picked even faster than his predecessor, Francis, appeared on the Vatican balcony amid enthusiastic cheers from thousands of faithful who packed St. Peter’s Basilica on Thursday to witness the historic event.

“May peace be with all of you,” he said from the Vatican balcony after paying tribute to his predecessor, Pope Francis, who gave his life to the service of humanity. He stressed that he wants to deliver his blessing to the people as Pope Francis did in his last appearance in St Peter’s Square.

After concluding his speech, the new Pope started reading a religious passage in Latin, paying homage to the saints and the Madonna. The pope continued with a message of peace and noted, “God loves us all, unconditionally”.

“Humanity needs Christ as a bridge to be reached by God and his love. Help us, and help each other, build bridges.

“Without fear, united hand in hand with God, we are the Disciples of Christ, and the world needs his light.

“Brothers and sisters dearest, this is the first greeting of Christ resurrected. I want to offer a greeting of peace to your families, all of you, wherever you are. May peace be with you,” he said.

ALSO READ:  Court denies Yahaya Bello bail

Chicago-born Prevost, 69, is seen as a reformer who worked for many years as a missionary in Peru before being made an archbishop there.

The cardinals strongly perceived that the new pope would need to carry forward Pope Francis’s legacy of reaching out to those on the margins and bring along with him a wide spectrum of those within the Church, including those with whom Pope Francis was sometimes at loggerheads.

Observers considered Cardinal Robert Prevost a candidate who could fulfil that role—someone who could be a bridge between different worlds.

The fact that the conclave decided in just four rounds of voting suggests that the cardinals agreed with that assessment.

Robert Prevost will be the 267th occupant of the throne of St Peter. Although he is the first American to fill the role of Pope, he is considered as much a cardinal from Latin America because of the many years he spent as a missionary in Peru before becoming an archbishop there.

Born in Chicago in 1955 to parents of Ecuadorian and French descent, Prevost served as an altar boy and was ordained as a priest in 1982. Although he moved to Peru three years later, he returned regularly to the US to serve as a pastor and a priest in his home city.

He has Peruvian nationality and is fondly remembered as a figure who worked with marginalised communities and helped build bridges. He spent 10 years as a local parish pastor and teacher at a seminary in Trujillo in northwestern Peru.

He is well known to cardinals because of his high-profile role as prefect of the Dicastery for Bishops in Latin America, which has the critical task of selecting and supervising bishops. Francis made him a cardinal less than two years ago.

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As Francis appointed 80% of the cardinals who took part in the conclave, it is unsurprising that someone like Prevost was elected, even if he was only recently appointed.

He will be seen as a figure who favoured the continuity of Francis’ reforms in the Catholic Church. Prevost is believed to have shared Francis’ views on migrants, the poor and the environment.

He will be fully aware of the divisions within the Catholic Church, and his Latin American background also represents continuity after a Pope who came from Argentina.

During his time as archbishop in Peru, he did not escape the sexual abuse scandals that have clouded the Church. However, his diocese fervently denied he had been involved in any attempted cover-up.

Before the conclave, Vatican spokesman Matteo Bruni said that during gatherings of the College of Cardinals in the days before the conclave they emphasised the need for a pope with “a prophetic spirit capable of leading a Church that does not close in on itself but knows how to go out and bring light to a world marked by despair”.

 

‎Top 10 Things to Know About the New Pope, Robert Francis Prevost

‎1. First American Pope

‎Pope Leo XIV, formerly Cardinal Robert Francis Prevost, is the first pope from the United States, born in Chicago, Illinois.

‎2. Elected as the 267th Pope

‎He was chosen after a swift two-day conclave, becoming the 267th leader of the Roman Catholic Church.

‎3. Age and New Namel

‎At 69 years old, he adopted the papal name Leo XIV upon his election.

ALSO READ:  Kogi Govt files appeal against removal of Ohinoyi of Ebiraland

‎4. Deep Missionary Experience in Latin America

‎Prevost spent over a decade in Peru as a bishop and seminary educator, gaining respect for his pastoral leadership and cultural fluency.

‎5. Leader of the Augustinian Order

‎He led the Augustinians globally for over ten years, managing an international religious community.

‎6. Key Vatican Roles

Before becoming pope, he was Prefect of the Dicastery for Bishops and President of the Pontifical Commission for Latin America—two influential positions in Church governance.

‎7. Academic and Legal Scholar

‎He holds degrees in mathematics, theology, and canon law, and has taught canon law in Latin America.

‎8. Calm, Reform-Oriented Leader

‎Known for his consensus-building style, Pope Leo XIV is seen as a clear-headed reformer continuing the legacy of Pope Francis.

‎9. Advocate for Women’s Inclusion

‎He supports meaningful female participation in Church governance, emphasising their real impact within Vatican bodies.

‎10. Mission-Driven Papacy

‎Pope Leo XIV remains committed to missionary work, global outreach, and addressing challenging issues like clerical abuse with humility and resolve.

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Respect Zoning Arrangement Brig Gen. Gora Tells Constituents

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By Tambaya Julius, Abuja

As the 2027 general elections approach, respected elder and retired military officer, Brigadier General Simon Katunku Gora, in a press statement today, made a compelling public appeal to the people of ZangoKataf/Jaba Federal Constituency, stressing the importance of adhering to the long-established zoning formula. He called all political actors and constituents to respect Zoning arrangement that has long fostered unity, stability, and inclusiveness in the region.

Speaking on the issue of zoning arrangement, Gen. Gora acknowledged the deep historical significance of the zoning system in ZangoKataf/Jaba federal constituency. According to him, the zoning principle wasn’t a product of political manipulation or favouritism. Rather, it was a mutual agreement among the region’s founding fathers a conscious decision to maintain equity, balance, and fair political representation for every community, regardless of size or influence.

“Our constituency has always stood on a foundation of mutual respect, collaboration and cooperation,” Gen. Gora stated.

He expressed deep concern over what he described as an increasing disregard for the zoning arrangement. Gen. Gora warned that political ambition and selfish interests are beginning to erode the spirit of unity the zoning system was built to protect.

“It is heartbreaking to witness betrayals of this noble system,” Gen. Gora said. “When individuals prioritise their personal gain over collective agreements, they plant seeds of division, instability, and mistrust. We must remember: a house divided against itself cannot stand.”

He urged politicians to resist the temptation of political shortcuts, reminding them that leadership is not simply about acquiring power it’s about sacrifice, responsibility, and service to the people and humanity.

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Addressing those eager to contest in the 2027 general election for ZangoKataf/Jaba federal constituency outside the agreed zoning rotation, he advised them to wait for their turn. Gen. Gora was clear and unwavering: “Wait your turn.” He emphasised that respecting the zoning order wouldn’t only strengthens the democratic process but also reinforces the core values of justice and accountability.

“Leadership is more than occupying an office,” he stated. “It is a sacred duty rooted in integrity and humility. Those who seek to lead must first prove themselves capable of self-restraint and honouring agreements.” he said.

He also reminded his audience that breaking the zoning consensus for short-term political gain could have long-lasting consequences on social harmony and development within the constituency. In his stirring address, he appealed to all citizens youths, traditional rulers, political leaders, and community stakeholders to prioritise the future over fleeting ambition. He called on everyone to defend the zoning arrangement as a legacy of equity that must be preserved for coming generations.

“We must not rewrite the rules simply to satisfy today’s interests,” he declared. “Let’s honour the collective sacrifices of our elders and protect the values they instilled through consensus and dialogue.” he stated.

Gen. Gora further emphasised that the zoning system was not just a political tool, but a symbol of unity, and its continuity was essential for maintaining peace, stability, and fairness across all communities in ZangoKataf and Jaba federal constituency.

In his closing remarks Gen. Gora call to action, urging every segment of society to rise above personal agendas and uphold the zoning principle as a unifying framework. He insisted that the zoning system remains the best path forward to ensure equal participation and representation. “To all stakeholders youths, elders, traditional leaders, and political actors let us work together to protect our shared values,” Gen. Gora said. “In doing so, we will secure a stronger, more united ZangoKataf/Jaba for generations to come.”

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