NEXIM Bank Aim To Boost Regional Trade
The Nigeria Export-Import Bank noted that its efforts to improve regional trade and promote bulk movement of commodities through the Nigerian water ways has received a boost with the unveiling of navigational charts of the lower River Niger in Abuja.
The survey and charting, which was jointly undertaken by hydrographers of the Nigerian navy and Nigerian Inland Waterways Agency with financial support from NEXIM and Afreximbank, was meant to guarantee navigational safety of the lower River Niger channel to boost hinterland and coastal trade.
The Managing Director/Chief Executive of NEXIM Bank, Mr Abba Bello, in his remarks, said the Nigeria Export – Import Bank, being a trade policy bank, had embarked on the deliberate policy initiative “to bridge maritime infrastructure gaps towards lowering logistics cost to foster trade with the promotion of the Regional Sealink Project. As a Special Purpose Vehicle under a public-private-partnership framework, Sealink essentially aims to enable the Bank to significantly broaden national export basket’’
Also commenting, the President of Afreximbank, Prof. Benedict Oramah, who was represented by the Regional Manager, Mr. Remigius Nwachukwu, praised the efforts of NEXIM, the Nigerian Navy and NIWA for supporting regional trade in Africa and reiterated Afreximbank’s commitment to provide support to serious investors with bankable projects to take advantage of the emerging business opportunities in marine logistics sector.
While delivering a keynote address, the Minister of Transport, Alhaji Jaji Sambo, who was the Special Guest of Honour at the event, affirmed the Federal Ministry of Transportation’s commitment to the successful attainment of the overall objective of the project in line with the Federal Government’s vision for the holistic and sustainable development of the maritime sector and the Inland waterways.