Nigerian Export-Import Bank (NEXIM) has pledged to assist the country’s agro-exporters by providing them finance. The aim is to increase the volume of agricultural exports within Nigeria and to other international markets
Managing Director, NEXIM, Abba Bello made the pledge during a visit by the Aviacargo Cargo Committee to the bank’s headquarters in Abuja.
According to Abba, it is heartbreaking that foreign airlines that fly into the country with cargo still departed empty even though there are abundant products that could have been exported.
Restating the Bank’s commitment to funding export of agric produce, Abba noted that the bank is willing to assist local carriers to build capacity in agro-product exports and suggested that the country’s domestic airlines look at expanding their operations to other countries to earn the needed foreign exchange.
“We promote the export of Nigerian produce commodities and even manufactured goods to global markets, such as the regional and continental markets. That has become more emphasised with the operationalisation of the African Continental Free Trade Zone Area. Our promotion is not about finding markets or facilitating the trade of Nigerian commodities by doing trade fairs. Our role is to provide financing and financial instruments that will promote the export of Nigerian goods.
“So, we use different products for different kinds of trade. We also do financing using currency, both local and foreign currency. The aim is that when exporters want to do their export, there should be finance for them.”
That is the responsibility of NEXM bank. Beyond that we also have a small but important role of facilitating export, despite the fact that we are a bank, as a development bank, our job is not only to give finance, we also do other things that either promote positively or deal with the challenges to export.
“We work with other agencies to try and bring down the barriers that impede our export or enhance things like standards, bringing certification and so on. We all know the story of cargo planes coming into the country and leaving empty. We feel sad by this situation because that is an area where we need to really improve.”