President Bola Tinubu has called on the African Export-Import Bank (Afreximbank) to strengthen efforts aimed at unlocking Africa’s human, financial and natural resources to accelerate economic growth across the continent.

The President made the appeal on Tuesday while receiving a delegation from the bank, led by its President and Chairman of the Board, Dr. George Elombi, at the State House in Abuja.

Tinubu said Africa must shift from prolonged discussions on development to concrete actions that promote industrialisation, expand trade, generate employment, encourage value addition and improve the welfare of its people.

He noted that achieving these goals would require adequate financing and dependable infrastructure, adding that Africa possesses the resources needed to transform its economy if countries work together.

According to the President, his administration’s economic reforms, including the removal of fuel subsidies and the unification of multiple exchange rate windows, were necessary measures to curb corruption and stabilise the economy.

He urged Afreximbank to provide investment guarantees that would support the processing of Africa’s mineral resources, particularly lithium, into products such as batteries and other manufactured goods rather than exporting raw materials.

“We have what it takes to build this continent. We should no longer export raw materials without adding value,” Tinubu said, while calling for stronger collaboration among African institutions.

The President also encouraged the bank to partner with the Bank of Agriculture to expand investment in key agricultural commodities, including cocoa, palm kernel and palm oil, with the aim of strengthening value chains and boosting long-term economic benefits.

Speaking on insecurity affecting farming communities, Tinubu said his administration had turned the long-running farmer-herder conflict into an economic opportunity through the establishment of the Federal Ministry of Livestock Development.

He added that revitalising industries such as cotton, ginneries and garment manufacturing would create jobs and support broader economic development if backed by strategic partnerships.

Also speaking, the Minister of State for Industry, Senator John Enoh, said the administration’s Eight-Point Renewed Hope Agenda was driving economic diversification through investments in solid minerals, oil and gas, manufacturing, agriculture, the digital economy and value-added exports.

Enoh said the reforms were laying the groundwork for a more resilient economy with reduced dependence on crude oil earnings.

Earlier, Elombi thanked Tinubu for his support, which he said contributed to his emergence as president of Afreximbank, and briefed the President on the bank’s operations in Nigeria.

He disclosed that Afreximbank has invested between 15 billion and 20 billion US dollars in Nigeria over the past five years across sectors including trade, agricultural processing, healthcare and value chains.

Elombi also highlighted the bank’s financing of major infrastructure projects, including the Lagos-Calabar Coastal Highway and the Kano-Maradi Railway, adding that the institution has committed 2 billion US dollars to support Nigeria’s cotton and garment industry.