Nigeria To Broaden Economy Through Multilateral Financing – Buhari

President Muhammadu Buhari has given an assurance that the Nigerian government will continue to support efforts to broaden the economy through multilateral financing.

The President, according to a release issued on Monday by his spokesman, Garba Shehu spoke when he paid host to President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Prof Benedict Oramah, ahead of the opening ceremony of the 2nd Intra-African Trade Fair Conference in Durban, the South African city on Monday.

President Buhari said: “I appreciate the support you are giving Nigerian businesses and by implication, the Nigerian economy. Rest assured you can count on me as you seek a better trade and investment climate in Africa”.

Earlier in his speech, Afreximbank President who came in company of the Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat, Wamkele Mene, thanked the President for honouring the invitation of the South African President to attend the Afreximbank-backed Fair, along with other Heads of State, saying it clearly demonstrated that “President Buhari understands the importance of trade and how Intra-African trade can help transform the African economy and of course, that of Nigeria.”

He also appreciated the Nigerian leader for granting the land and accepting to grace the occasion of the ground-breaking ceremony of the Africa Medical Centre of Excellence project to be implemented by the continental bank in Abuja in December.

According to him, Nigeria is an important market for the bank “with an exposure of 5.5 billion dollars and it was therefore imperative that we continue to engage Nigeria at the highest level.” He said Nigerian businesses got deals worth over 3.3 billion dollars during the first edition of the event in Cairo, Egypt, adding that more is expected at this year’s Fair with an assurance that Afreximbank would be ready to support such business deals emanating from the event “especially considering the support we have seen from the President.”

He said: “Nigeria’s participation was essential as the largest economy in Africa. Africa needs Nigeria as Nigeria needs Africa. Anything we do at the continental level that does not have Nigeria is seen globally as incomplete.”