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CBN, NEXIM Implement N550bn Export Facility

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The Nigerian Export – Import Bank (NEXIM) yesterday said that it has in partnership with the Central Bank of Nigeria (CBN) implemented N500 billion non-oil export stimulation facility and N50 billion export development fund to address the critical challenge of boosting funding intervention in the sector.

NEXIM boss, Mr. Abba Bello, disclosed this at the start of a two – day Exporter Enlightenment Forum for north- west zone in Katsina with the theme: “Actualising the Produce, Add Value and Export (PAVE) Philosophy.”

Bello said this was in line with the mandate of the federal government’s agency to play critical roles in achieving the diversification objectives of the nation in addition to promoting the growth and development of the micro , small and medium enterprises (MSMEs) sector.

He noted that the bank was also a key partner in hosting the nationwide MSME clinics and recently contributed to the establishment of Shared Facility Centres in some states of the federation towards enhancing the productivity and competitiveness of the MSME sector in the domestic and export markets.

“In pursuance of the bank’s strategic initiative of promoting regional industrialisation for value added exports and also fostering MSMEs greater participation in the regional and global value chains, we recently launched a new export development philosophy coined PAVE, which is Produce, Add Value and Export.

“This initiative seeks to increase the volume and array of exportable commodities from Nigeria, in addition to enhancing the contributions of value-added products in our export basket, thereby internalising and increasing the benefits of production through jobs creation and increased export earnings,” Bello said.

Governor of Katsina State, Aminu Bello Masari, in his opening remarks, said his administration has established three different bodies to turn “the abundant resources in agriculture and solid minerals that are being profiled for export into gold mine of foreign exchange with the attendant increases in employment and social security.”

Masari, represented by his commissioner for commerce, trade and industry, Abubakar Yusuf, explained, “The state government has established a committee that is liaising with NEXIM Bank on the best ways to make its export facilities easily and more accessible by exporters in the state.

“In addition, the state has established an exploration and mining company in order to streamline the activities in the mining industry in the state for maximum utilisation of abundant resources. Katsina Investment Promotion Agency (KIPA) is also established to ensure timely successful facilitation of investment activities in the state,” he said.


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