The Managing Director of the Nigerian Export-Import Bank (NEXIM), Abubakar Abbah Bello, has called on women to take advantage of the bank’s Women and Youth Export Facility (YF) to boost their businesses. Speaking at a breakfast event organized by the Youth Wings of the All Progressives Congress (APC), Bello said the facility is designed to provide concessionary loans to women and youth with exportable products.
The NEXIM bank MD noted that women are particularly good at certain businesses, such as garment-making and shea butter production, and encouraged them to scale up their operations to reach global and regional markets. “We want to encourage women to get into the export value chain and take advantage of the opportunities available in Nigeria,” he said.
The NEXIM MD highlighted the relaxed collateral requirements for the YF facility, making it easier for women to access finance for their businesses. “Don’t think that financing is only for men who are not youth,” he said, urging women to approach NEXIM for financing options.
Bello’s call is expected to boost women’s participation in the export sector, creating jobs and generating foreign exchange for the country. With NEXIM’s support, women entrepreneurs can now tap into the global market and grow their businesses.
Abubakar Abbah Bello also called for a ban on the export of primary products to encourage value addition in Nigeria. He noted that the country’s exporters have the potential to add value to their products, creating jobs and generating foreign exchange.
Bello highlighted the success of NEXIM’s efforts in migrating Nigerian exporters from mere exporters of primary products to adding value. He cited the example of the shea butter industry, where NEXIM has financed four industrial plants to process shea nuts. The MD appealed to the government to extend the recent ban on the export of shea nuts from six months to a year to guarantee the supply chain for these plants.
Bello also urged the government to consider banning the export of other primary products to encourage value addition and job creation in the country. He encouraged young entrepreneurs to invest in areas where they have passion, whether in agriculture, creative sector, or solid minerals, and take advantage of NEXIM’s products, including the Youth and Women Export Facility.
The NEXIM MD emphasized that the non-oil export sector presents opportunities for growth and development, and that the bank is committed to supporting Nigerian exporters to achieve their full potential.
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