The Nigerian Export Import Bank (NEXIM) said it has disbursed over N92.5 billion and issued guarantees worth $300 million in support of exporters; thereby creating about 60,000 direct jobs, since its inception in 1991.
The Managing Director of NEXIM Bank, Mr. Roberts Orya, made this known at the recent exporter enlightenment forum for the North-west zone held at the Giginya Hotel, Sokoto.
He stated that this was in addition to many indirect jobs and over $1.3 billion generated in foreign exchange earnings for the country.
Orya, who was represented by the Executive Director, Corporate Services of NEXIM, Alhaji Bashir Wali, noted that Nigeria in spite of its huge natural resource endowments and uncultivated arable land, imports over N10 billion worth of food such as rice, wheat and fish annually.
“Although, total non-oil receipts rose to $4.5 billion in 2013 from $2.9 billion in 2012, oil revenues remained dominant accounting for 95 per cent of the total export earnings, even in the face of declining imports by the United States of America, Nigeria’s major oil importer,” he said.
He pointed out that overdependence on crude oil by Nigeria, besides exposing the country to the vagaries of the external markets, remains a limiting factor in achieving its development potential.
The Managing Director said to this end, the Federal Government launched the Economic Transformation Agenda, which was aimed at diversifying the economy and promoting value-added exports.
He emphasised that NEXIM has a major role to play in contributing towards achieving key objectives of the transformation agenda by promoting the diversification of the economy through the provision of finance, risk bearing and policy support to the non-oil export sector.
The NEXIM boss disclosed that the decision to organise this forum in Sokoto was informed by the huge potential of the North-west region in contributing to the national development.
He said the forum was aimed at promoting non-oil export development in Nigeria through capacity building and dissemination of pertinent market information among stakeholders and principal players along the export value chain.
According to him, as part of efforts towards boosting regional trade and alleviating the problems of poor transportation infrastructure which made intra-African trade non-competitive, NEXIM, in collaboration with other stakeholders, is facilitating the establishment of a regional shipping company.
He explained that the regional shipping company would own and operate ocean going vessels for movement of goods and passengers within the West and Central African sub-regions.
Orya urged exporters in the zone to develop possible collaborations and synergies towards developing the potentials in the region and promoting exports and cross -border trades.
In a remark, Sokoto State Governor, Alhaji Aliyu Wamakko, acknowledged that NEXIM Bank under its present management, made significant contributions towards the diversification of the economy through credit intervention to exporters in the areas of manufacturing, agriculture, solid minerals and services.
Wamakko, who was represented by the Secretary to the State Government, Sahabi Isa Gada, said the forum underscored the need for various tiers of government to fully harness the resources in their region towards promoting development through diversification by giving attention to non-oil sector.
He urged NEXIM to come out with far-reaching strategies that would help the zone to come up with policies that would ensure the diversification of the economy.
Thisday
Leave A Commentposted in Business by Tunde LEMUEL