NEXIM Bank disburses over N420bn to exporters, creates 12,000 direct jobs

Nigeria’s Export-Import Bank (NEXIM) has disbursed over ₦420 billion in export financing, creating more than 12,000 direct jobs and thousands more across the value chain, according to Managing Director Abubakar Abba Bello.

Speaking at an export-driven forum organized by the youth wing of the All Progressives Congress (APC) in Abuja, Bello stressed the need to grow non-oil exports and equip young entrepreneurs to drive economic transformation.

“If youths are not in the center of production, the $1 trillion economy will be a mirage,” he said. “At NEXIM, we do not only facilitate and fund non-oil exports; we make sure the export gets value addition.”

The bulk of the disbursements was made under the Export Development Fund (EDF), a ₦150 billion facility from the Central Bank of Nigeria (CBN) designed to stimulate the non-oil sector. Of that amount, ₦137 billion has been released to NEXIM, which has gone on to finance export activities worth ₦420 billion across sectors such as agriculture, creative industries, and solid minerals.

According to Bello, the fund operates as a revolving loan. “Once exporters pay, we will still give other exporters applying for the loan. Subsequently, we have gone beyond the Export Development Fund,” he said, adding that the bank’s entire portfolio now aligns with the same terms—particularly a single-digit interest rate of 9%.

Beyond financing, NEXIM is also positioning itself as a trade enabler by working directly with exporters, enforcing global standards in product quality, traceability, packaging, and sustainability.

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Bello pointed out that exporting raw materials with little or no value addition is no longer a viable model for Nigeria. “Today, things like sustainability are becoming very important, and it’s all about standard,” he noted. “If you’re doing agricultural products, for instance, the kind of pesticides and insecticides you have used in the farm matters.”

This emphasis on quality control and compliance is especially relevant as global markets impose increasingly stringent rules on imports, particularly in agro-based exports. Bello stressed that certification, branding, and traceability are now baseline requirements for any business hoping to thrive in international markets.

“Your packaging and branding is important. These are not financing issues—these are requirements,” he said.

To expand the scope of youth participation, NEXIM has launched programs like the Women and Youth Export Facility (WAYEF), which supports emerging entrepreneurs in agribusiness, digital services, and the creative economy.

Bello urged Nigerian youths to invest in sectors aligned with their passions but anchored in value chains that are globally competitive. “What I’m going to appeal to the youth and encourage them to do is to invest where your passion is,” he said. “Whether it’s in agro-processing, hybrid value chains, or the creative sector, with energy and intelligence, the outcomes are going to be great.”

The bank is also making changes to its risk-sharing framework to ease access to credit. Traditionally, collateral requirements have discouraged many SMEs from applying for funding. Bello explained that NEXIM is increasingly relying on export proceeds and marketable financial instruments, in addition to fixed assets, to secure its facilities.

Dayo Israel, the APC youth leader, said the event was part of a deliberate effort to draw young Nigerians into the country’s new economic trajectory. “The diversification of the economy from oil to non-oil exports by the current administration is deliberate. It comes with immense opportunities in terms of job creation,” he said. “Nigerian youths have demonstrated zeal to take advantage of the opportunity created by the renewed hope agenda.”