President Bola Ahmed Tinubu has called on the African Export-Import Bank (Afreximbank) to intensify efforts toward mobilising Africa’s vast human, financial, and natural resources to accelerate the continent’s industrialisation and economic transformation.

The President made the call on Tuesday while receiving a delegation from Afreximbank, led by its President and Chairman of the Board, Dr. George Elombi, at the State House in Abuja.

Speaking during the meeting, Tinubu stressed that Africa must move beyond discussions about development and embrace practical initiatives that promote industrial growth, boost trade, create jobs, and improve the quality of life for its people.

According to the President, Africa possesses abundant resources that should be harnessed through value addition rather than the continued export of raw materials.

“We have what it takes to build this continent. We must stop exporting raw materials without adding value. Africa’s future depends on deliberate investments in industrialisation, manufacturing, and economic integration,” Tinubu said.

The President noted that his administration’s economic reforms, including the removal of fuel subsidies and the unification of foreign exchange rates, were necessary measures aimed at strengthening the economy, reducing corruption, and ensuring long-term economic sustainability.

Tinubu also highlighted the establishment of the Federal Ministry of Livestock Development, describing it as a strategic initiative designed to transform the recurring farmer-herder conflict into economic opportunities through investment in livestock production and value chains.

He urged Afreximbank to deepen collaboration with Nigeria’s agricultural sector by supporting investments in cocoa, palm oil, palm kernel, cotton, and other value-added industries capable of generating employment and increasing export earnings.

The President further called for stronger partnerships between Afreximbank and the Bank of Agriculture to enhance agricultural productivity and ensure that the benefits of value-chain development reach ordinary citizens.

Speaking at the meeting, Minister of State for Industry, Senator John Owan Enoh, said the Tinubu administration’s economic diversification agenda was laying the foundation for sustainable growth through investments in solid minerals, oil and gas, agriculture, manufacturing, the digital economy, and non-oil exports.

In his remarks, Afreximbank President Dr. George Elombi thanked President Tinubu for his support and disclosed that the bank had invested between $15 billion and $20 billion in Nigeria over the past five years across various sectors, including trade, healthcare, agriculture, and industrial development.

Elombi also revealed that Afreximbank has committed $2 billion to support Nigeria’s cotton and garment industry as part of efforts to boost local production and job creation.

He further briefed the President on the bank’s involvement in major infrastructure projects, including the Lagos-Calabar Coastal Highway and the Kano-Maradi Railway, while highlighting ongoing investments aimed at reducing medical tourism through the development of the African Medical Centre of Excellence (AMCE) in Abuja.

The meeting underscored the growing partnership between Nigeria and Afreximbank as both parties seek to strengthen industrial capacity, enhance regional trade, and drive sustainable economic development across Africa.