Business

AFREXIM bank’s strides excites Osinbajo, seeks backing for MSMEs

Published

5 years ago

August 18, 2021

Vice President Yemi Osinbajo has applauded the African Export-Import Bank (AFREXIM) over its efforts at stimulating and developing African trade, including its many engagements in Nigeria.

In a statement on Tuesday, Osinbajo’s spokesman, Laolu Akande quoted him as saying this at the Presidential Villa, Abuja, when he interacted with a delegation of the bank led by its President, Prof. Benedict Oramah.

The vice president expressed satisfaction with the bank’s work and the interest it had shown in sectors, such as health infrastructure, trade facilitation and tourism, among others.

He cited the Federal Government’s programmes in the Micro, Small and Medium Enterprises (MSMEs) sector, particularly in the Shared Facility Initiative under the National MSMEs Clinic, as important and deserving of AFREXIM’s backing.

Osinbajo noted that the initiative, which was being implemented in collaboration with state governments, and aimed at developing manufacturing clusters across the country, could be enhanced through a partnership with the bank.

The vice president described as crucially important the planned establishment of quality assurance centres across the country.

“One of the problems we have had with our exports is really this problem of quality assurance and making sure that we have the facilities to test our export products and get all of our agencies working together.

” I am sure that you have the Standard Organisation of Nigeria (SON), NAFDAC and all of our agencies working with you on this project,” he said.

Earlier, Oramah said that AFREXIM was investing in trade and health infrastructure, as well as being involved in the procurement and distribution of COVID-19 vaccines to African countries, including Nigeria, to enable the continent achieve herd immunity.

He said that the bank was also planning to establish National Quality Assurance Centres in parts of the country, in order to support and upgrade export of commodities from Nigeria.

Oramah said AFREXIM also had plans of investing in important sectors of the Nigerian economy, including health, disclosing plans to build a world class tertiary hospital and health park in Abuja.

He said the 500-bed state-of-the-art hospital would be developed in collaboration with Kings College Hospital in the UK, and other partners.