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Nigerian Export-Import Bank (NEXIM) at the weekend said it is committed
to facilitating the process that would lead to the creation of over
160,000 new jobs in four critical sectors of the country’s economy by
2015.
Managing
Director/Chief Executive of the bank, Roberts Orya, said
export-oriented diversification investments programmes is designed to
help develop the potentials in the manufacturing, agriculture, solid
minerals and services sectors of the economy under its MASS agenda.
The
18-month revival agenda, instituted under the bank’s corporate
transformation project to address its challenges and articulate
strategies that would facilitate its emergence as Africa’s premier
export development bank, is aimed at focus attention on the development
of certain markets, to see it emerge as a major contributor to non-oil
exports in the continent.
“We
are committed to not only build a world class institution which imbibes
best-in-class corporate governance and risk management practices, but
also become a relevant player in the export market by significantly
influencing government trade policies as well as build a profitable
institution with a robust balance sheet size and a highly skilled and
motivated workforce,” Mr. Orya said.
Since
last year, about N3.943billion was disbursed under the bank’s non-oil
exports finance programme targeted at generating over 3,500 direct jobs
as well as generate about $148.4million in foreign exchange earnings
annually, while about $70million was secured to facilitate its
programme to attract foreign investment capital for non-oil exports.
To
provide risk-bearing facilities for non-oil exports activities, the
bank also approved the issuance of $32.3million guarantees for three
projects to create about 170 direct jobs and earnings of about $20.06
million annually in the manufacturing, transport and tourism
sub-sectors, while guidelines for the ECOWAS Trade Support Fund are to
issued by the end of this quarter to deepen trade within the sub-region.
Facilitating access to credit
Under
the MASS agenda, the bank is determined to facilitate increased access
of manufacturers to short- and long-term credits by providing about
N42billion, about six per cent of the sector’s requirement, to boost
efficiency and profitability, create over 70,479 jobs as well as
account for 3.71 percent of the sectors gross domestic products by 2015.
About
60,587 jobs are expected to be created in the agriculture sector
through enhanced quality and local value addition in agro-industrial
exports by providing about N33billion, about 7.3 per cent of total
financing requirement, accounting for 2.89 per cent of the sector’s GDP
by 2015.
In
the Solid Minerals and Services sectors, the bank plans to
significantly contribute towards creating an internationally
competitive and attractive environment for the profitable exploitation
of Nigeria’s mineral resources by providing about N9billion, or 16.1
per cent of the financing requirement, accounting for 0.82 per cent of
the sector’s GDP, to create about 2,885 jobs by 2015.
To
assist in transforming Nigeria into a leading tourist destination in
Africa as well as contribute to the provision of safe and cost
effective transport services, the bank plans to provide N9billion, or
23.6 per cent of the sector’s financing requirement, accounting for
0.61 per cent of the GDP, to create about 26,236 new jobs by 2015.
President,
Miners Association of Nigeria (MAN), Sani Shehu, said its members
produced about 80 per cent of the tin ore and columbite exported by
Nigeria between 1970s and 1980s. Mr Shehu noted that the country still
has a huge potential in solid minerals across all states of the
federation, and that, properly harnessed, they would help diversify the
country’s economic base from oil.
To
enhance miners capacity to develop these potentials, Mr. Shehu urged
the bank to help in the provision of export credit facilities, in terms
of Institutional and funding support for machineries, such as
bulldozers, excavator, drilling machines, crusher, which he identified
as the biggest challenge.
The
Nigeria Export-Import Bank has already indicated that it would only
deal with registered/incorporated associations that have satisfied the
requirements set out in its facility guidelines on a project-by-project
basis, adding that miners should ensure that they operate in line with
applicable rules and regulation as well as identify exist capacity gaps
among them.
“NEXIM will strengthen the capacity of miners to help them use the
Financial Inclusion Payment System Reform through which the CBN
(Central Bank) is trying to encourage small and informal exporters to
channel their transactions through the banking system, by leveraging on
commercial banks to target the development of the non-oil sectors of
the economy in agriculture, solid minerals etc, finance greenfield
projects and export-oriented SMEs,” Mr. Orya said./
