NEXIM Bank Disburses N137bn to Support Nigerian Exporters

NEXIM Bank in Nigeria disbursed N137 billion from the Export Development Fund to support exporters, creating direct employment opportunities nationwide. The bank's Managing Director, Abba Bello, disclosed this information in Abuja, emphasizing the fund's role in facilitating exports and job creation.

Bello explained that the fund, supported by the federal government, operates as a revolving facility to finance both new and existing exporters. Beneficiaries are expected to repay the loans, which contribute to the continuous availability of funds for exporters.

NEXIM highlighted that the current lending assets stand at N430 billion, offering exporters access to loans at a concessionary interest rate of nine percent, one of the lowest in the financial market.