Connect with us
Advertise With Us

NEWS

NEXIM Bank To Spend N37bn On Export Devt Of States

Published

on


The Nigerian Export Import (NEXIM) Bank has set aside N37 billion State Export Development Fund as part of its commitment to export capacity development in the agriculture sector of the nation’s economy. Managing director of the bank, Abubakar Bello, who made this known in an interview with newsmen in Katsina shortly after a courtesy call on the state governor, Aminu Bello Masari, said the development finance institution has dedicated N1billion per state to support export commodities from primary production to through value chain of the export.
“We can support (right) from primary production using the Anchor Borrowers Programme model to support production and processing of exportable commodities.
“As it is now, we are piloting the model with one billion naira and we intend to use it to boost export from Katsina State before the end of harvest season this year,” he pointed out.
Earlier, Bello told the governor that he had come to present the package for the state and to work out plans with the government on how to bring the initiative to fruition for the benefit of farmers and national economy in line with the economic diversification agenda of the present administration.

The NEXIM boss, who noted that the fund would be disbursed at a single digit concessionary interest rate, said the N1billion for each state was meant to pilot the programmme before the portfolio would be reviewed. In his remarks, Governor Masari charged the bank to ensure that the export promotion drive should besides encouraging primary producers, also support local aggregators, processors and exporters of the commodities. “On the whole, anything that promotes agriculture, I think, promotes good living because we have seen that the quality of life of our rural populace has started to improve based on good yields we recorded in the last three years and even this year’s yield is very promising,” he said.
The governor revealed that his administration had started processing the contract for the development of 100 out of about 800 hectares for small and medium scale enterprises targeted towards processing for export into West African countries through Niger Republic.



Copyright LEADERSHIP.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from LEADERSHIP Nigeria Newspapers. Contact: editor@leadership.ng







Advertisement

You must be logged in to post a comment Login

MOST POPULAR

Pin It on Pinterest

Share This

Share this post with your friends!