The Nigerian Export-Import Bank (NEXIM) has marked the 2025 International Women‘s Day by launching the Women in Export Development Funds (WEDF).
In the same vein, a former Minister of Finance, Mrs Kemi Adeosun, a former Chairwoman of Access Bank, Dere Awosika, and the Executive Director of Business Development, NEXIM Bank, Hon. Stella Okotete, urged women to be resilient and break systemic barriers that have held them down for too long, adding that self-development will put them in vantage positions to exploit in business and other chosen careers.
According to the managing director, Mr Abba Bello, the initiative is meant to deepen the bank‘s interventions to increase women‘s participation in the non-oil export sector.
He extolled the virtues of women, noting that their importance and significant contributions are globally recognised.
Abba stated this year’s theme is “For All Women and Girls: Rights. Equality. Empowerment,’’ “Accelerate Action,” is a call to empower women and address gender disparities, focusing on strategies, resources, and activities that positively impact women‘s advancement.
“Today’s occasion commemorates this auspicious Month and displays NEXIM Bank’s commitment to advancing women’s empowerment, emphasising women’s achievements and challenges, fostering dialogue, sharing insights, and promoting actional strategies for women’s empowerment.
“Women and girls are at the heart of national development. When we empower women, we empower families, communities, and entire economies”.
According to Abba, with its vast human and material resources, Nigeria can only achieve sustainable development when women are included in all aspects of economic growth, particularly in financial empowerment and entrepreneurship.
“In recognition of this and fulfilment of its mandate, NEXIM Bank has developed several products specifically targeting women, which includes the Women and Youth Export Fund (WAYEF), The Small and Medium Enterprises Export Fund (SMEEF) and the Women in Oil and Gas Managed Funds.
“These products and services positively impact women playing in the SME’s and the Non-Oil Export Value chain, providing them with affordable credit financing under acceptable terms and conditions.
For her part, former Minister of Finance Kemi Adeosun called President Bola Tinubu to name a National Export Adviser, noting that there are more export opportunities than import.
She noted that Nigeria’s export-to-GDP ratio stood at 9.2 per cent compared to other African countries, adding that Nigeria did not need to reduce its imports but rather increase its exports.
“I urge our President to name a National Export Adviser. We need a figurehead that will drive reforms and break down all barriers to exports so that our world-class goods can reach the global market.
“There’s been a lot of narrative around Nigeria. The narrative used to be that Nigeria imports too much, but that is untrue. The statistics do not support that at all. The statistics do say that Nigeria exports too little. So, if you look at Nigeria’s export-to-GDP ratio, it is 9.2%. That was the last statistic before the rebasement.
“So, that signal will go down when the basement seeds are in. Please remember Nigeria’s export-to-GDP numbers: 9.2%, Ghana 34%, South Africa 32.8%, Senegal 23%. So, what we are saying is, not so much efforts on reducing our imports, we need to focus on increasing our exports”, she said.
Adeosun also noted that while it took weeks to register as an exporter in Nigeria, it took only 48 hours to register in South Africa, adding that Nigeria must be intentional about export opportunities.
“According to our last recording, there are four steps to registering as an exporter in Nigeria. It takes an average of two to three weeks; in South Africa, it takes 48 hours. So, if it takes long for me to go through various clearances, the chances are I will give up. So, we need to be intentional about the opportunity. And the chance for the ladies is in exports.
“It is not in imports, it’s in exports. Your products are world-class. Your products can compete anywhere in the world. And if you look at the trajectory, Nollywood is now growing, our music is growing. What should follow, our fashion, our arts, our crafts, our snacks, our foods, that’s the next wave,” she stated.
In his address, the Managing Director and Chief Executive Officer of the NEXIM Bank, Abubakar Bello, said the occasion was to display the Bank’s commitment to advancing women‘s empowerment and emphasising women’s achievements and challenges and to foster dialogue, share insights and promote actional strategies for women empowerment.
He noted that the bank had developed several products targeting women, including the Women and Youth Export Fund, the Small and Medium Enterprises Export Fund, and the Women in Oil and Gas Managed Funds, while also announcing the Women In Export Development Fund launch.
“Women and girls are at the heart of national development. When we empower women, we empower families, communities, and entire economies. With its vast human and material resources, Nigeria can only achieve sustainable development when women are included in all aspects of economic growth, particularly in financial empowerment and entrepreneurship.
“In recognition of this and fulfilling its mandate, NEXIM Bank has developed several products specifically targeting women, including the Women and Youth Export Fund, The Small and Medium Enterprises Export Fund and the Women in Oil and Gas Managed Funds. These products and services positively impact women playing in the SME’s and the Non-Oil Export Value chain, providing them with affordable credit financing under acceptable terms and conditions.
“As we mark this occasion, we commit to further deepening our interventions to increase the participation of women in the non-oil export sector. In this regard, we present another flagship product: ‘The Women In Export Development Fund’.” he said.
The Executive Director of Corporate Services, Mr Ibrahim Gaga, reaffirmed the bank‘s commitment to supporting women and girls in achieving their business dreams.
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