The Nigerian Export-Import Bank (NEXIM) has disbursed about N420 billion in concessionary loans to non-oil exporters, generating more than 12,000 direct jobs, according to its Managing Director and Chief Executive, Abubakar Abba Bello.
Speaking at an interactive session with youth members of the All Progressives Congress (APC) in Abuja on Tuesday, Bello said the funding, offered at a single-digit interest rate of nine per cent, has enabled small and medium enterprises (SMEs) to scale up their export operations.
He noted that N137 billion of the N150 billion Export Development Fund (EDF) introduced by the Central Bank of Nigeria in 2018 had already been released to NEXIM for distribution.
“When we came on board in 2018, not one industrial plant was processing shea in Nigeria. Since then, we’ve financed four—in Ogun, Kano, and Niger States—all now in production,” Bello said.
He praised the federal government’s recent six-month ban on raw shea nut exports, describing it as a strategic step to stabilise supply chains and reduce production costs. He urged the government to extend the suspension to one year and phase out unprocessed commodity exports across other agricultural value chains to boost local processing and job creation.
Bello also disclosed that NEXIM is widening support to service exports, including digital outsourcing, legal and accounting services, and event planning, provided such ventures generate foreign exchange inflows.
“If foreign exchange inflows are assured, NEXIM will finance service contracts abroad,” he stated.
The NEXIM boss added that the bank’s total assets currently stand at about N430 billion, all dedicated to financing exporters. He encouraged Nigerian businesses to participate in African infrastructure projects, assuring that the bank would continue to support cross-border trade, SMEs, and youth-led ventures through training and mentorship.
