Abuja: President Bola Tinubu has commissioned the Afreximbank African Trade Centre (AATC) in Abuja, emphasizing the need for a concerted effort to build a more interconnected and prosperous Africa. The President, represented by Sen. George Akume, Secretary to the Government of the Federation, highlighted the necessity of unlocking new trade corridors to achieve this goal.
According to News Agency of Nigeria, President Tinubu stressed the importance of reducing Africa’s dependence on imports and empowering SMEs and women-led businesses through enhanced access to markets and finance. He also underlined the significance of harnessing digital technology to streamline cross-border trade and reduce inefficiencies. The AATC in Abuja is seen as a key milestone that aligns with Nigeria’s strategic priorities under the Federal Government’s 8-point agenda, particularly in job creation, economic diversification, and regional integration.
Tinubu acknowledged the impact of Afreximbank interventions across the continent, noting that over $20 billion in trade finance facilities have been disbursed to facilitate intra-African Trade, with plans to double this amount by 2026. He also mentioned support for industrial parks and special economic zones that are boosting manufacturing and export capacity. The President assured that the Federal Government of Nigeria would back initiatives promoting inclusive growth, digital transformation, and sustainable industrialization.
Prof. Benedict Oramah, President and Chairman of the Board of Directors at Afreximbank, pointed out that the Abuja AATC is the first of several centers being developed across Africa and the Caribbean. Some AATCs will be Afreximbank-owned, while others will operate under a franchise scheme. The network of AATCs aims to guide the interconnections and flow of trade and investments within Africa and between Africa and Caribbean regions.
Oramah highlighted the multi-purpose role of the Abuja AATC, including serving as a platform for deeper regional and continental integration, housing Afreximbank’s permanent regional office, and offering facilities such as a technology incubation hub and a Digital Africa Trade Gateway. He noted that the center would be digitally connected to other AATCs across Africa and in Barbados, as well as the Afreximbank Africa Global Gateway in New York, facilitating simultaneous training and exhibition opportunities.
Dr. Jumoke Oduwole, Minister of Industry, Trade and Investment, emphasized that the center is not only for Afreximbank or policymakers but also for African youths, women-owned businesses, and SMEs. She stressed the importance of Africa becoming a leader and powerhouse in global trade.
The News Agency of Nigeria reports that the Abuja AATC consists of two modern, elegant interconnected nine-storey towers located on 4th Avenue, Central Business District.