JUST IN: Nigeria gets 60% share of Aferimbank’s $30bn oil

    President Bola Tinubu have reportedly received the chairman of the Board of Directors of Afreximbank, Prof Benedict Oramah. 

The African Export-Import Bank on Wednesday, disclosed that it has become the largest financier of oil and gas projects in Africa.

The bank disclosed investing $30bn in industry projects, with Nigeria receiving 60 per cent despite reduced global funding for hydrocarbon ventures in Africa

He said that Africa has to find innovative solutions to its huge energy deficit.

Oramah was speaking at the National Oil Companies Forum at the ongoing Nigeria International Energy Summit in Abuja on Wednesday.

Represented by Mr. Haytham ElMaayergi, Executive Vice President, Global Trade Bank, Prof. Oramah lamented that it was incomprehensible that in a continent with abundant oil, gas, solar hydro resources, the bulk of the population still lacks access to reliable and affordable energy.

He explained the continent lacks extensive traditional energy infrastructure, but stressed that this presents an opportunity for leapfrogging in a more efficient way to renewable technology.