Providus Bank Reaffirms Support For Non-oil Export Business

ProvidusBank has restated its commitment to supporting its clients in the quest to grow a sustainable export-based domestic economy.

The managing director/chief executive officer, ProvidusBank, Mr. Walter Akpani, stated this, in his welcome address at the financial institution’s hybrid third Non-oil Export Summit in Lagos.

Akpani, who was represented by the deputy managing director, Providus Bank, Mr. Kingsley Aigbokhaevbo, said,  Non-Oil Export Summit series was introduced as part of the lender’s desire for continuous collaboration with major stakeholders in the non-oil export space.

According to him, the summit enables the bank to solidify its support for its stakeholders in agri-business, mining and metals, African fashion and general trading businesses within Nigeria, thereby creating opportunities for growth in export volume and trade earnings.

The Providus Bank boss disclosed that the latest edition of the summit, focusing on the theme, ‘The pathway to growing Non-Oil Export in Nigeria’, follows previous successful ones held in the fourth quarter of 2022 and in the second quarter of 2023.

He said, Fashion Export was included in the third edition of the event, because the bank wanted to beam a strong ray of light on the earning possibilities embedded in African fashion export, even as it continues to upscale capacity in the agric business, mining and metals.

He said: “As a future forward bank, we have advanced in our support for export business through template settings and other ambitious strategies to gain a significant share of the market in the Business. This event is therefore in advancement of the Central Bank of Nigeria’s objectives towards a sustainable and self-sufficient growth in non-oil export business in Nigeria.”

He pledged ProvidusBank’s commitment to always providing all the support it can muster for importers who were at the summit because they wanted to seek out opportunities in the non-oil export space.

Also, the executive director/chief executive officer, Nigeria Export Promotion Council (NEPC), Dr Ezra Yakusak, who was represented by the Regional coordinator, NEPC’s South-West Regional Office, Mr. Akintunde Folorunsho, commended Providus Bank for its support of non-oil export business.

According to him, with some of the world’s largest economies, such as China and India, setting targets for reducing oil imports by as much as 50 per cent, coupled with the fact that many countries grappling with oil dependency like Nigeria are striving to diversify their exports, the nation cannot afford to be left behind.

Stressing the need for the country to boost non-oil exports, he noted that some of the wealthiest countries in the world such as the United States, China and Germany, do not export oil.

The managing director, Nigeria Export-Import Bank (NEXIM Bank), Mr. Abba Bello, who was represented by the head of the bank’s Lagos Regional Office, Daniella Jarikre encouraged exporters who require credit to approach the bank to discuss their proposals, stressing that, many exporters who met NEXIM Bank’s requirements obtained loans without having to do anything that was unofficial.