Nigeria Partners with Afreximbank and OPEC Fund to Boost Economy
By Patience Ikpeme
The federal government is teaming up with Afreximbank and the OPEC Fund for International Development to improve key sectors such as energy, trade, and infrastructure.
This partnership was announced after meetings led by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during the World Bank-IMF Annual Meetings.
Edun met with leaders from both organizations, and noted the government’s resolve to enhance the economy through collaborative efforts.
He noted the crucial support from Afreximbank, which recently provided a $3 billion loan to Nigeria’s National Petroleum Corporation (NNPC). This funding he said, has played a significant role in stabilizing the economy and aiding financial reforms.
“Our partnership with Afreximbank is critical to achieving our economic goals,” Mr. Edun said, stressing the importance of financial support to strengthen Nigeria’s key sectors.
Benedict Oramah assured that Afreximbank is committed to helping Nigeria progress. Wale Tinubu also pointed out the need for ongoing investment in Nigeria’s oil and gas industry, which is vital for the country’s revenue.
Mr. Edun also met with Dr. Abdulhamid Alkhalifa, President of the OPEC Fund for International Development. They discussed how to support Nigeria’s infrastructure and energy, with the aim of creating long-term benefits for local communities.
The finance minister was hopeful that working with the OPEC Fund will help Nigeria realize its potential and improve the lives of its citizens.
