NEXIM Bank Disburses N420 Billion Loans, Creates 12,000 Jobs in Non-Oil Exports

Abubakar Abba Bello, Managing Executive of NEXIM Bank, revealed the disbursement of N420 billion in concessionary loans to non-oil exporters, creating 12,000 jobs. The bank provided funding at a nine percent interest rate, supporting SMEs in export activities.

NEXIM has deployed assets worth N430 billion, surpassing the Export Development Fund (EDF). The Nigerian government's ban on shea nut exports aims to boost local processing.

This move aligns with reducing production costs and enhancing local value addition. The bank's strategic interventions signify a commitment to SMEs and economic growth in Nigeria's non-oil export sector.