Afreximbank’s $300 million AMCE to provide strategic medical services in Nigeria – SGF Akume

Akume made this announcement on Tuesday during a high-level stakeholder and exclusive media tour of the medical institution’s construction site, according to a statement from Afreximbank dated February 12, 2025.

Naijaonpoint previously reported that the AMCE is a $300 million investment led by Afreximbank in partnership with King’s College Hospital, London.

The facility is expected to expand to $700 million in its second phase, addressing the health needs of Nigerians and other Africans.

According to the statement, Prof. Benedict Oramah, President of Afreximbank and AMCE Board Chairman, along with AMCE Board Members, led top Nigerian government officials—including Deputy President of the Senate of Nigeria, Senator Barau Jibrin; Secretary to the Government of the Federation, Senator George Akume; Mrs. Toyin Saraki, Founder-President of the Wellbeing Foundation Africa and wife of the former Senate President and former First Lady of Kwara State; Senator Asuquo Ekpenyong; and Kabiru Rabiu, Group Executive Director of BUA Group—and other leading corporate CEOs and executives for an exclusive walkthrough of AMCE’s construction site.

“This project will not only position Nigeria as a hub for cutting-edge medical services but also create jobs and drive innovation in the sector,” Akume stated.

Commenting on the progress on the site, Prof. Benedict Oramah, President and Chairman of the Board of Directors of both Afreximbank and AMCE, stated that the AMCE project was born out of the heavy burden of non-communicable diseases, capital flight from medical tourism, and the exodus of skilled professionals seeking opportunities abroad.

“It will create 3,000 jobs, stimulate intra-African trade in medical services, and strengthen critical supply chains in pharmaceuticals and healthcare delivery.  

“Most importantly, it will help Nigeria retain the over $1.1 billion lost annually to outbound medical tourism, redirecting those resources toward strengthening our own systems,” he added.

According to Afreximbank, future phases of the project will include a second 350-bed hospital facility, a medical and nursing school, a medical and sciences foundation, a medical office suite and research center, as well as medical residences and a medical lodge to support both patients and healthcare professionals.

The construction of the 500-bed AMCE Abuja began in 2022, following a groundbreaking ceremony in December 2021 by former President Muhammadu Buhari.

Oramah, while delivering a moving tribute titled “From One Life to a Journey of Many Lives” on November 25, 2024, highlighted the transformational vision behind the AMCE, emphasizing its potential to provide accessible, high-quality medical care across Africa.

He also paid a heartfelt tribute to Prof. Mufti, a globally celebrated hematologist and Clinical Advisor for the AMCE project, for his dedication to healthcare innovation and education.

As highlighted by several government officials, the medical site joins other positive investments in Nigerian territory.