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Bridgeway Bible Dictionary
Originally called Abram, Abraham received his new name from God in confirmation of God’s promise that he would be father of a multitude of people (Genesis 17:5-7). In fulfilment of this promise, Abraham became the physical father of the Israelite nation (Matthew 3:9; John 8:37). Because he accepted God’s promise by faith, he is also the spiritual father of all who accept God’s promises by faith, regardless of their nationality. As God in his grace declared Abraham righteous, so he declares righteous all who trust in him (Genesis 15:6; Romans 4:11).
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Fleming, Don. Entry for 'Abraham'. Bridgeway Bible Dictionary. https://www.studylight.org/dictionaries/eng/bbd/a/abraham.html. 2004.