NEXIM Bank Expresses Commitment For Export Growth

Nigerian Export-Import Bank has disclosed its readiness to support the country’s exports.

This was disclosed by the Managing Director of Nexim Bank, Abubakar Bello, during his keynote address titled “Easy Access to Export Finance,” during the launch of the Nigerian Exporters’ Hub in Lagos, recently.

He said, “We are particularly enthusiastic about doing business with individuals, nano and small businesses."

Bello expressed the Nexim Bank preparation to provide access to funding to individuals or businesses without any discrimination.

He said, “Accessing finance is easy as long as the individual or business is serious. We are encouraging exports, and everybody seated here can start generating foreign exchange for themselves."

He also explained that the Nigerian Exporters’ Hub would help reduce the risks that typically hold back ordinary exporters, making it easier for them to get funding.

“We are a bank concerned with development, not necessarily profitability. We are ready to provide access to funding, and there is no discrimination.

“Banks look at where there are minimal risks, and some of those risks have already been mitigated by the Hub," he added.

The push for non-oil exports aligns with Nigeria’s well-defined economic objectives of diversifying away from its dependence on oil.

Bello pointed out that by supporting new entrants into the export sector, particularly small and medium-sized enterprises, Neximbank hopes to spur economic growth in new and vibrant sectors.

According to the Special Adviser on Export Expansion to Nigeria’s President, Aliyu Sheriff, there was a need to prioritise domestic production value for locally manufactured goods.

He said “This shift is essential for the stabilisation and future prosperity of our economy. However, successful export strategies require a supportive business environment and both structures, which is one of the reasons that Nigerian exporters will be very crucial."