Abba Bello: NEXIM Bank Has Disbursed N420 Billion Concessionary Loans to Non-oil Exporters, Created 12,000 Jobs

•Hails restriction on shea nut export, reaffirms commitment to SMEs funding, mentorship

James Emejo in Abuja

Managing Director/Chief Executive, Nigerian Export-Import Bank (NEXIM), Mr. Abubakar Abba Bello, yesterday disclosed that the bank disbursed about N420 billion to non-oil exporters at concessionary, single-digit interest rate of nine per cent.
Bello spoke at an interactive session with All Progressives Congress (APC) youth members on financing SMEs’ non-oil export activities, in Abuja.
Bello also said over 12,000 direct jobs had been created through the funding intervention to the subsector.
He said a total of N137 billion, out of the N150 billion Export Development Fund (EDF), had so far been released to NEXIM by the Central Bank of Nigeria (CBN).
In 2018, the central bank introduced the N150 billion EDF – a debenture to support non-oil exports – with the funds channelled to NEXIM for distribution to Small and Medium Enterprises (SMEs).
The NEXIM managing director pointed out that the bank had moved beyond the EDF, stating that NEXIM’s total assets currently stood at about N430 billion, all of which was deployed to financing exporters.
He said all lending by the bank followed same conditions as that of EDF.
Bello said the federal government’s recent six-month ban on shea nut exports was a strategic step to support local processors and reduce production costs.
He stated that though the country supplied 40–60 per cent of global shea, it lacked industrial processing plants until 2018.
He said, “When we came on board in 2018, not one industrial plant was processing shea in Nigeria.
“Since then, we’ve financed four, located in Ogun, Kano, and two in Niger State, all now in production.”
According to him, a newly commissioned plant in Niger State had struggled to source raw shea due to competition from long-established foreign buyers who moved the product to neighbouring countries for processing.
Bello said, “The export ban guarantees a stable supply chain for these plants and reduces input costs. I believe we’ll now have excess shea for local processing.”
While urging the government to consider extending the suspension to one year to encourage further investment in domestic value addition, Bello called for a wider policy to discourage the export of raw agricultural products.
He said, “Let’s not stop at shea. We should begin phasing out the export of unprocessed commodities across other agricultural value chains. This is how we keep jobs and wealth at home.”
He emphasised the need for continuity and regular engagement, not just one-off events, and adding that the bank plans to organise quarterly encounters going forward.
He also promised an open-door policy to exporters, particularly SMEs, adding that as a trade facilitation agency, it is ready to assist in whatever capacity to make their export ambitions a reality.
Bello said the bank aimed to support service exports, including event planning, digital outsourcing, particularly call centres, accounting, and legal services.
He said, “If foreign exchange inflows are assured, NEXIM will finance service contracts abroad.”
Bello encouraged Nigerian businesses to participate in African infrastructure projects, stressing that the bank supports cross-border trade and wants to help Nigerian companies expand into Africa.
He said the bank will also support exporters in niche or unconventional sectors.
Bello said, “NEXIM is investing in youth training and partnerships to build export capacity.”
He reaffirmed the bank’s commitment to boost the capacity of the services industry to export.
According to him, services constitute about 55 per cent of the country’s GDP, and remain the biggest sector of the economy.

The post Abba Bello: NEXIM Bank Has Disbursed N420 Billion Concessionary Loans to Non-oil Exporters, Created 12,000 Jobs appeared first on THISDAYLIVE.

​  

  • Related Posts

    BREAKING: Nigerian Secret Police DSS Abducts NYSC Member Oyinyechi In Ebonyi, Transfers Her To Unknown Location

    However, in the early hours of same Thursday, around 4am, DSS operatives reportedly stormed the area, arrested the corps member, and took her to their Abakaliki office.  ArticlesRead More 

    2027: The Buhari Organisation Backs Tinubu, Declares Loyalty

    2027: The Buhari Organisation Backs Tinubu, Declares Loyalty

    •Tinubu says Nigeria has met revenue target for 2025, no more borrowing
    •What this means for the Nigeria
    •President dismisses pressure from Trump’s tariffs
    •Stresses commitment to economic stability, food security, justice

    Deji Elumoye in Abuja

    The influential The Buhari Organisation (TBO) yesterday declared its support for the Bola Tinubu administration, announcing that President Bola Ahmed Tinubu has earned the unalloyed loyalty of its numerous members as the 2027 election approaches.
    TBO led by a former Governor of Nasarawa State, Senator Tanko Almakura, said this during a courtesy visit to the President at the State House, Abuja.
    The delegation assured the President that the Congress for Progressive Change (CPC) bloc within the All Progressives Congress (APC) remained firmly behind his administration and would mobilise nationwide to secure the party’s victory at the 2027 polls.
    The Buhari Organisation, better known by its acronym TBO, was created in the early 2000s as a platform to build late Muhammadu Buhari’s political profile before he ventured fully into partisan politics. It was a structured support organisation that brought together loyalists, volunteers, and political strategists who believed in Buhari’s vision and sought to position him as a viable national leader.
    At its core, TBO served as a vehicle for mobilising grassroots support and coordinating political activities across the country. It provided Buhari with the organisational backbone needed to contest elections and sustain his influence in national debates at a time when he was transitioning from military service and public appointments into the rough terrain of democratic politics.
    The activities of TBO eventually gave rise to the CPC, the political party formally registered in 2009 that carried Buhari’s banner in the 2011 presidential elections. This transition from an informal political organisation to a structured party demonstrated the role TBO played as a launchpad for Buhari’s later success. Its networks and structures became the nucleus of CPC and, later on, part of the broader coalition that birthed the All Progressives Congress (APC) in 2013.
    At the event, Al-Makura, who spoke on behalf of the group, commended Tinubu for steering the country through challenging economic times, sustaining peace and stability, and for honouring the memory of their late leader and mentor, former President Buhari.
    “We are with you in loyalty, in person, and in purpose. May Almighty God grant you the wisdom and strength to continue leading our nation,” Al-Makura declared.
    Recalling the CPC’s struggles before the 2013 merger that birthed the APC, Al-Makura described Tinubu and Buhari as visionaries whose political partnership laid the foundation for justice, equity, and national renewal.
    “Mr. President, you and President Muhammadu Buhari shared more than a political alliance; you shared a vision of a Nigeria built on justice, economic sovereignty, and good governance. Together, you conceptualised and built a platform that remains our pride and our cause,” he said.
    Al-Makura pledged that the CPC family, comprising former governors, ministers, lawmakers, women leaders, and party executives, would work tirelessly to consolidate Tinubu’s reforms and sustain the APC legacy beyond 2027.
    Also speaking, Speaker of the House of Representatives, Hon. Tajudeen Abbas, declared that the CPC bloc remains intact and is solidly behind the President.
    “Indeed, today is the very first time that former members of the CPC have gathered in such large numbers to visit our President, to show support and appreciation for what he has been doing. I want to seize this opportunity, Mr. President, to assure you of the unconditional support of all former members of the CPC,” Abbas said.
    Dismissing insinuations that the bloc was fragmented, the House Speaker insisted that over 90 per cent of CPC’s pioneer leaders remained active and loyal.
    He also praised President Tinubu’s partnership with Buhari in 2010, which eventually paved the way for Buhari’s presidency.
    Abbas further commended Tinubu for the unprecedented respect shown to Buhari during his passing, noting the state support accorded his family and the President’s personal involvement.
    “CPC in every state will go back home and mobilise support for Asiwaju. That movement will cascade down to local government areas, wards, and units. Insha Allah, CPC members will be at the forefront of ensuring your re-election in 2027 so you can continue the good work you are doing,” Abbas assured.
    Addressing members of TBO, Tinubu declared that his government had met its revenue generation target for 2025 through the non-oil sector in August, stressing that this was achieved ahead of schedule.
    He added that he would remain focused on Nigeria’s progress despite external pressures, including actions from US President Donald Trump.
    According to him: “Nigeria is not borrowing. We have met our revenue target for the year, and we met it in August.”
    Projecting confidence against international challenges, Tinubu dismissed concerns over United States Trump’s activities, saying, “If non-oil revenue is going well, then have no fear of whatever Trump is doing on the other side.”
    Shedding more light on his government’s economic achievements, the President emphasised the stabilisation of the Nigerian economy, with exchange rates improving from N1900 to a dollar to N1450 at present.
    His words: “The economy is stabilised; nobody is trading pieces of paper for exchange rate anymore. When I took over, it was N1900 to a dollar. It’s N1,450 now. Rates have been stabilising now.”
    He promised continued efforts to create jobs through export, import, and industrial growth.
    On food security, the President unveiled plans for a nationwide mechanisation programme, with farm centres established in every region to boost productivity, ensure food sovereignty, and lift millions out of poverty.
    “Our path to food security is clear. Every region will have a mechanised farm centre. We are committed to removing poverty from our land, and that is the work we have already started,” the President stated.
    Tinubu urged supporters not to be distracted by political noise ahead of 2027, assuring that his administration remains focused on reforms that will deliver prosperity.
    “Don’t let anybody threaten you with uncertainty. We know the direction we are going, and we are certain of success. The legacy you will inherit from me is total commitment to justice, transparency and progress. At the end of this journey, it will be a house of joy and prosperity for all,” he said.
    The President reflected on the early political alliance with Buhari, emphasising mutual respect and dedication to a progressive government.
    “Let me first apologise for coming late. That’s the difference between Muhammadu Buhari and Bola Tinubu. If it were him, he would be here right on time,” Tinubu joked, before expressing heartfelt thanks to those in attendance, including Speaker of the House of Representatives, Abass; former Katsina State Governor and former Speaker, Hon Aminu Masari, Almakura, and others.
    He recounted the challenging beginnings of their alliance, noting spirited debates on symbols—“He insisted on parliament and I insisted on broom. He’s so stubborn,” Tinubu pointed out.
    The President reassured his supporters not to be swayed by threats but to draw strength from unity and shared belief in a progressive government building on Buhari’s legacy. “Don’t worry about the threats. When I see people like you, my determination is to work harder,” he said.
    Tinubu also gave a pledge rooted in Buhari’s principles saying that part of what his administration inherited from Buhari was his honesty, transparency and justice.
    “You won’t have anything less than that. You will have joy at the end of this journey, and we will definitely put something together to build a Buhari House; that house will be a house of joy and prosperity,” he assured.

    What Tinubu’s ‘No More Borrowing’ Comment Means for Nigeria
    If President Tinubu’s statement that Nigeria has met its revenue target and will no longer be borrowing holds true, the implication is significant for the country’s fiscal stability.
    First, it suggests that the government is beginning to generate enough income from taxes, customs, oil earnings, and other non-oil sources to cover its planned expenditure. This would mark a shift away from years of heavy dependence on borrowing to plug budget deficits.
    One clear outcome is the potential stoppage of the ways and means advances—the controversial mechanism through which the Central Bank of Nigeria (CBN) directly financed the federal government’s shortfalls.
    For years, this practice ballooned Nigeria’s debt profile, fueled inflation, and raised questions about the independence of monetary policy. If the government halts this recourse, it would ease pressure on the CBN and help restore credibility to Nigeria’s fiscal and monetary framework.
    Another implication is that the federal government will no longer crowd out private players in the domestic borrowing space. By reducing the issuance of bonds and treasury bills to finance recurrent spending, the government frees up liquidity for the private sector, potentially lowering interest rates and stimulating investment in the real economy.
    Politically, it also signals a commitment to fiscal discipline. The move could reassure investors, rating agencies, and development partners that Nigeria is working to live within its means and limit unsustainable debt accumulation. If sustained, this could help stabilise the naira, tame inflation, and restore confidence in government finances.
    In essence, Tinubu’s declaration points to the beginning of a new fiscal direction: reliance on Internally Generated Revenue (IGR) rather than borrowing, the end of ways and means financing from the CBN, and reduced dependence on domestic debt markets.
    If backed by consistent revenue reforms, this shift could mark a turning point in Nigeria’s economic management.

    The post 2027: The Buhari Organisation Backs Tinubu, Declares Loyalty appeared first on THISDAYLIVE.

    ​  

    •Tinubu says Nigeria has met revenue target for 2025, no more borrowing•What this means for the Nigeria•President dismisses pressure from Trump’s tariffs•Stresses commitment to economic stability, food security, justice Deji
    The post 2027: The Buhari Organisation Backs Tinubu, Declares Loyalty appeared first on THISDAYLIVE.

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Business & Economy

    ChatGPT to add parental controls amid child safety concerns

    ChatGPT to add parental controls amid child safety concerns

    SeaBaas at One: Peerless’ modern core processed 2 billion transactions, saves clients $10m — sets sights on Pan-African Scale 

    UBA, Mastercard launch prepaid card to promote financial inclusion 

    AMCON-backed Unity Bank summons shareholders meeting for merger with Providus

    AMCON-backed Unity Bank summons shareholders meeting for merger with Providus

    Nigeria to partner with ‘Big Tech’ companies to build hyperscale data centers – NITDA DG  

    Sterling Bank marks one year of zero downtime with groundbreaking SeaBaas

    Nigeria’s business performance index hits 107.3 as firms struggle with financing challenges 

    FG partners Polaris Capital to kickstart training of 100,000 construction artisans nationwide 

    OpenAI to acquire product testing startup, Statsig in $1.1 billion all-stock deal 

    Tinubu: Nigeria no longer borrowing from local banks as revenue target surpassed 

    Stock Market Plummets as Investors Lose N985.7bn in Two Days

    Sterling Bank Marks One Year of Zero Downtime with Groundbreaking SeaBaas

    Leadway Graduates Young Developers to Boost Nigeria’s Tech Talent Pool

    40th Anniversary: Ecobank to Reward Customers with N61.2m

    PenOp Organises Session on Liver Damage Prevention, Management

    Fintech: Kwairanga Calls for Collaboration Between Insurance Regulator, Operators

    Consolidated Hallmark Count Gains of Holding Company Structure, Announces 404% Profit Growth 

    Analysts Cautious on Nigeria’s Higher Debt Ceiling, Say Revenue Gaps Remain Bigger Risk

    EFCC seeks strengthened surveillance over illicit financial activities at Airports’ Private Wings 

    NNPC Ltd. announces Odeh as new Chief Corporate Communications Officer 

    Four stocks fall 10% as ASI slips 984 points, SEPLAT tops value

    FCTA demolishes Boulevard Park Maitama for violating Abuja master plan 

    UK invests $7.5 million to finance agriculture and boost food security in Nigeria 

    NNPC appoints new Corporate Communications Officer

    NNPC appoints new Corporate Communications Officer

    Lagos to resume phase 2 of Ogudu-Ifako repairs on Wednesday after review

    Tinubu recalls NTA DG Dembos, ED News Adewuyi to complete tenure 

    Over 2.6 million Nigerians enroll for online and in-person voter registration in two weeks – INEC 

    FG to cut Nigerians’ out-of-pocket health spending from 70% to 20% to ease financial burden 

    UK government warns foreign students of deportation over visa overstays 

    FG introduces mandatory ethic and criminal records screening for teachers nationwide  

    Wema Bank partners with Evolve with Edememe to empower Wema Women at “Bloom, Lady, Bloom” Workshop 

    FG records N3.3 billion subscription in August 2025 savings bond allotment 

    Billionaire Mittal’s Airtel Africa picks Citi for $4billion Airtel money IPO in 2026 

    Merger: Unity Bank shareholders to approve N3.18 payout, scheme at court meeting 

    Nigeria spends $120 per capita on healthcare, government contributes only $30 – Minister 

    Average price of 5kg cooking gas falls to N8,243.79 in July 2025 – NBS