The Nigerian Export-Import Bank (NEXIM) has provided more than N420 billion in financing to small and medium enterprises (SMEs) in the non-oil export sector, resulting in the creation of over 12,000 direct jobs and thousands of indirect ones across value chains.
Managing Director and Chief Executive Officer of NEXIM, Mallam Abubakar Abba Bello, disclosed this in Abuja during a forum organised by the youth wing of the All Progressives Congress (APC).
Bello explained that one of the key funding lines, the Export Development Facility (EDF), was designed to expand financing for SMEs in the non-oil export sector. The scheme provides loans at a single-digit interest rate of 9 percent, in line with the development finance institution lending framework.
“The EDF operates as a revolving loan, ensuring continued access for exporters. Once repayments are made, other exporters applying for the facility can benefit. So far, we have funded exports to the tune of N420 billion and created more than 12,000 direct jobs,” Bello said.
He stressed that youths are critical to Nigeria’s economic transformation, noting that the country’s ambition to achieve a $1 trillion GDP by 2030 depends on their active participation. He also highlighted NEXIM’s policy of supporting value addition in exports to boost foreign exchange earnings.
According to him, the bank has also eased collateral requirements to make financing more accessible, with special consideration for women and youths in its export value chain programmes.
APC Youth Leader, Barrister Dayo Israel, commended the intervention, describing the non-oil export sector as a vast opportunity for Nigerian youths under the government’s diversification agenda.
