Economy: Afreximbank to boost industrialisation in Imo

 VICTOR DURUAMAKU- OWERRI

President and Chairman Board of Directors,  AFREXIMBANK,  Prof.  Benedict Okey Oramah is disturbed over the non compliance with globally acceptable standards which according to him, had become a formidable obstacle to access regional and international trade for Africa.

Noting the economic and political consequences of this on African economy,  Oramah said, “the AFREXIMBANK had since taken up the challenge to break this barrier to improve the economic fortunes of African nations”.

He stated this at the commencement ceremony of the Africa Quality Assurance Centre(AQAC),  Imo State project development held at Umuowa in the Ngor Okpala Council Area of the state.

According to him, “the project which was first commissioned in Ogun State in December 2022 and the second being constructed in Imo State would expand intra-African trade, adding that the AFREXIMBANK had commenced collaborations with some relevance institutions to harmonize standards and also influence industrial standards”.

Represented by the Executive Vice President,  intra-African Trade and Export Development,  AFREXIMBANK,  Mrs.  Kanayo Awani,  Prof.  Oramah said, “The EU is a major destination of our export and we are prepared to ensure that made in Africa goods reach international standards.”

He explained that Imo was chosen for the second phase of the project because of its central location in both the South South and South East regions coupled with its agricultural potentials which gives it a comparative advantage in both agricultural and industrial development.

He commended Governor Hope Uzodimma for his commitment to the project which he said was indicative of his preparedness to re-brand Imo as an industrial destination.

In her address earlier,  the Director, of Export Development, AFREXIMBANK,  Oluranti Doherty assured that the bank was intent to allow Imo to take her pride of place as a major export zone.

She also commended Governor Uzodimma for his tenacity and support to realize the project.

Governor Uzodimma who later unfolded the module hailed the President and members of the Board of AFREXIMBANK for their wisdom to act as a catalyst by providing homegrown solutions for trade in Africa.

“It is a wonderful initiative and the Nigerian National Development Plan is in support of this project. My administration is activating business opportunities to create jobs for our people and your decision to site this project in Imo will be justified.”

The governor while pledging the support of the government and people of Imo State to the project extolled the bank for once more including Imo in the global map saying “we will not take your bank for granted because by choosing Imo for this project is something we will forever cherish.”