Afreximbank Backs Push By Sub-nationals, As Woodhall Capital Mobilises Investors
Vice President Kashim Shettima on Friday declared that Nigeria is strategically positioned to anchor a new era of intra-African trade and investment, leveraging its market size, innovation hubs, and economic weight to lead the continent’s commercial revolution.

Speaking on behalf of the Vice President, his Deputy Chief of Staff, Ibrahim Hassan Hadeija, delivered the message at the High-Level Conference on Intra-African Trade, convened by Woodhall Capital at the Presidential Villa, Abuja.

The forum, held ahead of investment roadshows in London, Dubai, and Abu Dhabi, brought together global investors, the diplomatic corps, governors, development finance institutions, and heads of key Ministries, Departments and Agencies (MDAs).

Shettima commended Woodhall Capital for its “audacious mandate” to raise international funding for sovereign and sub-sovereign partners, describing it as “an act of deep patriotic service” that turns theoretical potential into bankable opportunities.

“For too long, the narrative of African trade has been dictated by what we extract and export to the Global North. Today, we must pivot and activate the vast untapped energy of intra-African trade,” he said, noting that while trade within the EU and Asia stands at 65 per cent and 60 per cent respectively, Africa’s intra-continental trade remains below 17 per cent.

He stressed that the revolution would not be driven by Abuja alone but by sub-national structures, with governors taking the lead in presenting structurally sound, de-risked, and market-aligned projects capable of attracting global capital.

“As a government, we recognise that to attract sustainable investment, we must build an environment anchored on predictable policy, institutional transparency and public accountability. Capital follows confidence, and confidence follows governance,” Shettima said.

The vice president reaffirmed the administration’s commitment to stabilising the currency, rationalising subsidies, simplifying trade integration, and removing bottlenecks through the Presidential Enabling Business Environment Council (PEBEC).

He urged governors to seize opportunities in agro-exports, regional power projects, and digital platforms to harmonise commodity standards with neighbouring countries.

“The capital is ready. The markets are ready. And the world is watching,” he said. “It’s our moment to redefine Nigeria’s place in Africa’s economic story, not as a participant, but as a leader.”

Shettima called for a compact between visionary political leadership, innovative financial structuring, and disciplined deployment of global capital to transform Nigerian states into dynamic, investable engines of regional integration and continental progress.

In his remarks, Chairman of the Nigeria Governors’ Forum (NGF) and Governor of Kwara State, AbdulRahman AbdulRazaq, reaffirmed the commitment of states to create an enabling environment for investment, saying sub-nationals hold the key to unlocking Africa’s next wave of trade and economic growth.

Speaking at the Pre-industrial Forum, jointly organised by the NGF, Woodhall Capital, Afreximbank and PEBEC, AbdulRazaq, represented by Zamfara State Governor, Dauda Lawal, said the forum marked another milestone in the NGF’s partnership with Woodhall Capital following a July 2025 Memorandum of Understanding (MoU) to link state project pipelines with credible investors in the United Kingdom and Abu Dhabi.

“This meeting is not just a prelude to the upcoming international industrial mission; it is a declaration that Nigerian states are open for business, already bankable and globally competitive,” he said.

He highlighted the NGF Investopedia platform, launched earlier this year, which showcases hundreds of investment-ready projects across infrastructure, energy, agriculture, logistics and the creative economy, all aligned with AfCFTA priorities.

“Our collective goal today is to deepen collaboration, mobilise capital and strengthen confidence in the sub-national investment ecosystem,” he added.

AbdulRazaq commended partners, including Afreximbank, ZimBank, PEBEC and Woodhall Capital for supporting the vision through blended finance and advisory solutions.

Acting Regional Chief Operating Officer and Head of Mission, Anglophone West Africa, Afreximbank, Mr. Alain-Thierry Mbongue, reaffirmed the bank’s commitment to supporting sub-national governments across Africa to attract investment and deepen intra-African trade.

Speaking on behalf of the President and Chairman of the Board of Afreximbank, Prof. Benedict Oramah, at the Pre-investors Forum, Mbongue described the event as “a pivotal juncture in Nigeria’s investment narrative,” stressing that discussions were anchored on commitments, frameworks, and collective resolve to deliver tangible outcomes at scale.

He highlighted the African Sub-Sovereign Government Network (AfSNET) established in 2021 as a key platform enabling governors, mayors, and premiers to exchange knowledge, shape innovative policies and access Afreximbank’s financing tools tailored to states, cities and regions.

“Our guiding philosophy is simple: Development must be decentralised. It must begin where the needs are most keenly felt, in cities, provinces, counties, and regions, and radiate outward to influence national and continental progress,” Mbongue said.

Over the past four years, AfSNET has convened high-level investment conferences in Durban, Abuja, Cairo, and Kisumu, attracting over 150 governors and catalysing more than $2 billion in trade and investment transactions.

He pointed to Afreximbank’s one-stop digital ecosystem for trade, the African Trade Gateway (ATG), as a critical tool that will support eligible projects from the forum through technical due diligence, transaction structuring, and cross-border matchmaking.

Mbongue also announced that the next AfSNET Investment Forum will be hosted in Cross River State in 2026, commending the state government’s early commitment to the initiative.

Earlier, the President of Woodhall Capital, Mrs. Mojisola Hunponu-Wusu, rallied local and international investors to leverage Nigeria’s evolving economic landscape, urging stronger partnerships to drive sub-national growth and deepen intra-African trade.

Hunponu-Wusu described the gathering as “a convergence of purpose, partnership and vision,” linking it to the Memorandum of Understanding (MoU) between Woodhall Capital and NGF, which she said has created “a clear pathway connecting government with finance, and vision with tangible outcomes.”

She hailed President Bola Tinubu’s economic reforms such as forex liberalisation, exchange rate unification and capital market deepening, as catalytic measures that have boosted investor confidence and repositioned Nigeria as a competitive destination.

“This forum is not merely a conversation; it is a bridge connecting policy with capital, Nigeria with the world, and vision with measurable impact,” she said, stressing that this year’s engagement starts from Africa, not outside it.

Hunponu-Wusu praised Afreximbank as a “Big Brother” to Woodhall Capital and paid tribute to its outgoing president, Oramah, whom she described as “a true African champion.”

She expressed confidence that incoming president of the bank, Dr. George Elombi, will consolidate his legacy. She announced the NGF–Woodhall Capital international investor roadshows in London, Dubai and Abu Dhabi, providing Nigerian states platforms to engage financiers and strategic partners directly.

“No longer do we go with begging bowls to international countries. We believe there’s investment onshore, on the continent,” she declared. “If you are an international investor wondering how to meet Woodhall Capital, look around the room, your partners are here.”