The African Export and Import Bank (Afreximbank), yesterday, announced plans to invest up to $100 million for the establishment of quality assurance centres in Nigeria.

Already, the bank has deployed $11 million for the completion of the first African Quality Assurance Centre in Ogun State. President and Chairman of the Board of Directors of Afreximbank, Prof. Benedict Oramah, who spoke at the unveiling of the facility, yesterday, said the state-of-the-art facility would offer testing, certification, inspection and training services covering agricultural products.

According to Oramah, the project will also support the transformation of the structure of Nigeria and African businesses, accelerating industrialization and intra-regional trade, thereby boosting the nation’ s competitiveness and economic expansion in global market.

He said that the project is the first in a series of quality assurance centers that Afreximbank intends to establish across Africa to support industrialization by ensuring that African products are manufactured to international standards and enabling them to participate in intra-African and global trade.

Published on: The Guardian

Publication Date: 22/12/22

For more: https://guardian.ng/news/afreximbank-earmarks-100-million-to-tackle-nigerias-export-challenges/