NEXIM Bank affirm support for Nigeria’s export sector

Onwubuke Melvin
Onwubuke Melvin

Nigerian Export-Import Bank has affirmed its support for Nigeria’s export sector.

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

He highlighted Neximbank’s firm commitment to promote the participation of SMEs of various sizes in export markets.

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

“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 emphasised that the Nigerian Exporters’ Hub would help to reduce risks that often prevent ordinary exporters from accessing funding, which would make it easier for them to raise funds.

“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 stated.

According to Bello, Neximbank is hoping to stimulate economic growth in new and vibrant sectors by supporting new entrants into the export industry, especially small and medium-sized enterprises.

Meanwhile, the Special Adviser on Export Expansion to Nigeria’s President, Aliyu Sheriff, stressed prioritising adding value to locally manufactured goods.

“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,” he noted.

In addition, the Chairman of the Nigerian Exporters Hub, Victor Ayemere, emphasised the need to significantly increase the number of Nigerian exporters to bridge the trade gap between Nigeria and nations like China and Taiwan.

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