Friday, 20 April 2018


The Nigerian Export-Import Bank (NEXIM) has re-emphasised its commitment to boosting the export value chain and building local capacity of entrepreneurs to meet export standards in Nigeria.

The Executive Director, Business Development, NEXIM, Ms. Stella Okotete, explained that the financial institution, through its initiatives, would make funds available for operators of Small and Medium Enterprises to improve the quality of their goods to meet international standards.

She said, “NEXIM Bank is ready to partner state governments to achieve the vision of developing industrial projects, improving human capacity and providing financial advisory services to entrepreneurs.

“We have supported some with Export Stimulation Fund in partnership with the Central Bank of Nigeria and the Export Development Fund, which some states can access to encourage entrepreneurs to improve the quality of their goods, to meet international standard.”

Okotete added that the EDF, which was available for the development of capacity for the training of entrepreneurs in the non-oil sector, would be given to women and youth cooperatives to enable them to improve the export value chain.

Meanwhile, the bank had offered funding opportunities like N500 billion ESF in partnership with the CBN and a N50 billion EDF with the Edo State Government, to encourage entrepreneurs in improving the quality of their goods.

Governor Godwin Obaseki of Edo State said, “Nigeria will remain an import dependent country if its effort is not made to improve the quality of goods produced to meet global standards. Effort must be made to produce goods that are competitive.

“If goods are cheaper abroad, it will be better to import, than export. There are a lot of incentives offered by the Federal Government to support exportation. We will go beyond the rhetoric and implement strategies that will encourage export of quality products in a competitive market.” (Point)

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