Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

How Nigerian exporters will benefit from NEXIM Bank’s disbursed $1 billion

Damilare Famuyiwa by Damilare Famuyiwa
December 20, 2018
in Business News, Politics
NEXIM Bank $1 billion fund
Share on FacebookShare on TwitterShare on Linkedin

Nigerian exporters would be among other exporters in West Africa that will benefit from Nigerian Export-Import Bank’s $1 billion trade facilitation pact. The Memorandum of Understanding (MoU) was signed during the inaugural Intra-African Trade Fair in Cairo, Egypt.

How the fund will be utilised

In a statement made available to newsmen, NEXIM Bank made known that the MoU would be implemented under the Nigeria-Africa Trade and Investment Promotion Programme to support trade and investment flow between Nigeria and other African countries.

Under the agreement, AFREXIM will provide $1 billion Line of Credit, which will be disbursed by NEXIM to qualifying beneficiary projects and transactions in support of intra-African trade and investments.

RelatedPosts

Top content ideas for your YouTube channel

FG, UK sign agreement to deport dangerous criminals back to Nigeria

According to the MoU, the fund is available to support the growth of trade between Nigeria and other African countries with special emphasis on value addition, particularly in primary goods and commodities. The statement said the $1 billion would assist in enhancing local earnings and job creation.

The fund is also available to support capital and investment flows as well as projects being sponsored by Nigerians in other countries.

While speaking during the signing, the Managing Director/Chief Executive of NEXIM, Abba Bello, said the deal would go a long way in boosting access of Nigerian exporters to investment capital and investment guarantee instruments, including the Small & Medium Enterprises (SMEs). He said through the pact, the bank would be able to promote intra-African trade and increasing the volume of formal trade.

In implementing this programme, Bello also highlighted that the NEXIM bank would be working with all stakeholders, including exporters, investment partners as well as other financial institutions, both domestic and foreign to realise the NATIPP programme objectives.

About NEXIM

NEXIM is an export credit agency in Nigeria. The bank was established by Act 38 of 1991 as an Export Credit Agency (ECA) with a share capital of ₦50,000,000,000 (Fifty Billion Naira) held equally by the Federal Ministry of Finance Incorporated and the Central Bank of Nigeria (CBN).

NEXIM Bank replaced the Nigerian Export Credit Guarantee & Insurance Corporation earlier set up under Act 15 of 1988. The agency provides export credit guarantees and export credit insurance for exports of Nigerian commodities and services within and outside West Africa.

Related

Tags: CBNNATIPPNexim bankNigerian Export-Import BankNigerian exporters

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • This is Bitcoin’s worst quarter in 11 years
    • Despite Reports, El Salvador Doubles Down on Bitcoin Bet to the Tune of $1.5 Million
    • US government places $100,000 bounty on “cryptoqueen”, Ruja Ignatova, for $4 billion crypto scam

    Follow us on social media:

    Recent News

    Bitcoin falls against Russia-Ukraine war

    This is Bitcoin’s worst quarter in 11 years

    July 1, 2022
    Bitcoin takes off as El Salvador adopts it as legal tender

    Despite Reports, El Salvador Doubles Down on Bitcoin Bet to the Tune of $1.5 Million

    July 1, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com