The Nigerian Export-Import Bank (NEXIM) has disbursed N430 billion to Nigerian exporters, the managing director of the Bank, Abubakar Bello, has said.
At an interactive session in Abuja yesterday, he explained that while part of the bank’s name implies that the bank promotes imports, the bank’s focus is on using imports of critical equipment and raw materials to boost the export capacity of Nigerian entrepreneurs.
“Total lending to exporters is around N430 billion. The facility attracts a single-digit interest of nine per cent. That is probably the lowest interest rate in the market,” he stated.
Apart from providing finances to Small Scale Enterprises (SMEs), NEXIM Bank is equally driving Nigeria’s agro-industrial revolution to empower businesses for global success.
He disclosed that the activities of NEXIM Bank have led to the creation of more than 12,000 direct jobs.
He added: “The direct jobs that have been created from our funding are somewhere around 12,000. That is direct jobs alone. The indirect jobs that have been created within the value chain are almost infinite as a result of our interventions.”
Bello said the service sector is emerging as a potent sector that can contribute massively to Nigeria’s export drive.
