The federal government has urged African nations to seize the current global economic shifts as an opportunity to lead from the front, by putting forward a unified voice that drives inclusive development, asserts economic sovereignty, and expands the continent’s influence on the global stage.
Speaking at the ongoing 32nd Annual Meetings of the African Export-Import Bank (Afreximbank) in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, called on African governments and stakeholders to recommit to the principles of unity, resilience, and self-determination.
“In a world that is increasingly fragmented and protectionist, it is vital that we not only adapt, but lead,” Edun told delegates. “The collective voice of Africans across the continent and in the diaspora must become a powerful force for inclusive development, economic sovereignty, and global influence.”
The finance minister expressed Nigeria’s enduring commitment to continental cooperation and integration, describing institutions like Afreximbank as central to Africa’s advancement.
“Nigeria has long been a staunch supporter of African unity and economic integration. We believe that our collective progress depends on cooperation with the continent’s institutions, like Afreximbank, that catalyse trade, build industrial capacity, and invest in the future of our people,” Edun said.
He urged participants at the high-level meetings to “recommit to the ideals of partnership, resilience, and self-determination that have guided Africa’s march forward,” stating that “these ideals – of partnership, dignity, and mutual prosperity – bind us as one people with a shared destiny.”
Reflecting on Afreximbank’s role, Edun noted that the institution has been instrumental in reshaping Africa’s economic landscape.
“For more than three decades, Afreximbank has played a transformative role in the continent’s economic architecture. Its bold interventions – whether through crisis response, finance and support for key sectors of our economy, shaping industrialisation, promoting export development, and enabling intra-African trade – have proven that Africa can finance and shape its own development path,” he said.
Also speaking at the Annual Meetings, Afreximbank President, Professor Benedict Oramah, shared the bank’s achievements over the years and its strategic focus in the face of current global challenges.
“Over the past 32 years, we have mobilised over $250 billion into Africa, empowered industries long neglected by conventional financiers, and served as a lifeline during crises – from the COVID-19 pandemic to commodity shocks and broken supply chains,” Oramah said.
He described the bank’s journey as one of resilience and institutional innovation. “The story of Afreximbank is one of defiance against doubt, of institution-building in the face of resistance, and of steadfast belief in Africa’s potential,” he stated.
Oramah noted that this year’s meetings are taking place during a time of intensifying global headwinds marked by deglobalisation, rising protectionism, and geopolitical tension.
“Yet, it is precisely this uncertainty that reminds us of the imperative to build strength from within, charting a future that is unapologetically African and globally impactful,” he said.
He projected a new development model for Africa built on the continent’s demographic and resource strengths.
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“It is expected to be a future where Africa’s youthful population, rich natural resources, expanding intra-African trade, and technological shifts create a new development paradigm,” Oramah said.
He disclosed that the meetings have been designed to confront the key issues facing the continent by re-evaluating institutional structures and redefining strategies in the context of a shifting global order.
“The meetings this year are structured to tackle these themes head-on: examining our past, reimagining our institutions, and strategising for a fractured and changing, deglobalising world order,” he said.
In his concluding remarks, the Afreximbank President reiterated the institution’s commitment to shaping Africa’s transformation.
“As we gather policymakers, development finance institutions, the private sector, civil society, and academia, our goal is to create not only a platform for dialogue but also a roadmap for action. Together, we will explore how Africa has been asserting greater control over its development destiny and how Afreximbank and our sister institutions can continue to be anchors of sustainable socio-economic transformation,” he said.