President Bola Tinubu on Tuesday urged the leadership of African Export-Import Bank (Afreximbank) to intensify efforts to mobilise and deploy the continent’s vast human, financial, and natural resources for the collective economic advancement of Africans. He spoke during a visit by a delegation from Afrieximbank, led by its President and Chairman of Board, Dr George Elombi, to State House, Abuja.
According to him, Africa’s drive for industrialisation could not remain a subject of theoretical discussion. Tinubu stressed that Africa possessed enormous potential and must move beyond endless conversations about development to practical actions that drive industrial growth, expand trade, create jobs, add value, and improve the living standards of its people.
A structured financial backing and reliable infrastructure, he explained, were essential for building the continent. According to him, his administration’s recent economic reforms, such as ending the fuel subsidy and tackling multiple exchange rates, were essential steps to combat corruption and ensure economic survival.
The president stated, “The conscience and the future of Africa depend on what you and your team can do and will do for Africa as a whole, and the time has come for us to start doing things together as Africans. “We have what it takes to build this continent. Do we continue to exploit and export raw materials without value addition?
That answer is no. “We have solid mineral deposits such as lithium and others that can be used, and you, as the financial partner, should be able to come with investment guarantees for the production and value addition in batteries and other manufacturing ecosystems.” Tinubu stressed the need for Afreximbank to synergise with the Bank of Agriculture, make more investments in the production of crops, such as cocoa, palm kernel, and palm oil, among others, and ensure that agricultural value chains translate into tangible benefits for the future.
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