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Export Projects: NEXIM disburses N85 billion

By on October 25, 2012

An Export Ship Loaded with Containers

 

The Nigerian Export Import Bank, NEXIM disbursed over N85 billion to support 900 export projects in the real sector.

This development was disclosed by the Managing Director and Chief Executive Officer of the bank, Mr. Roberts Orya, in Enugu at an Exporter Enlightenment Forum organised by the bank.

Orya said the bank has created over 300,000 direct and indirect jobs and would help in generating over $1.2 billion in foreign exchange earnings for the country, adding that most of the money was used in Small and Medium Scale Enterprises.

 

The MD maintained that NEXIM bank, as an official Export Credit outfit of the Federal Government, is working hard to rationalize its authorization of “diversification of the Nigerian economy through the provision of finance, risk bearing, and policy support to the non-oil export sector.”

 

Ne noted, “Giving our efforts to develop the high growth sectors and increase employment generation in the country, we have also recently developed a funding programme for the creative and entertainment industry, in addition to a special scheme for SME exporters in the ECOWAS region.”

 

He urged the Southeastern states to make use of the activities of small manufacturing industries in the area to add towards value added exports in the country.

 

Orya said Nnewi is looked upon as the Japan of Africa considering its industrial importance, stating that the Ariaria market in Aba has developed to become the main centre of manufacturing, while Onitsha is a trade centre together with Enugu, which has turned out to be the major hub for the production of movies.

 

Commenting, the Enugu State Governor, Sullivan Chime, in his remark, applauded NEXIM for organising the occasion in Enugu.

 

Represented by the Commissioner for Finance, Godson Nnadi, the Governor said the state has made available an enabling environment for economic activities to flourish.