||Nigeria : NEXIM urges export-oriented SMEs to leverage its credit facilities
||In order to expand their potentials, the Nigerian Export-Import Bank (NEXIM) has urged export-oriented small and medium entrepreneurs in the Southeast and Delta States to leverage its credit facilities.
The NEXIM said the regions SMEs could access the N500 billion Export Stimulation Facility, and the N50 billion Export Development Fund it manages to expand their businesses, generate more jobs, and contribute to the country's foreign exchange revenue earnings.
The Federal Government made available the credit facilities to NEXIM Bank last December in order to lend to SMEs at interest rate of not over 9 per cent.
The funds were meant to redress the falling export credit to SMEs and reposition the non-oil industry to enhance its contribution to the country's revenue generation and economic development.
The Managing Director/CEO of NEXIM, Abba Bello, said that enhanced export funding for non-oil exporters would allow SMEs to expand their businesses and boost their competiveness.
Mr. Bello was represented by the Head of the Bank's Enugu Regional Office, Chinedu Moghalu, at a one-day seminar in Enugu on the theme "Leveraging NEXIM Bank Facilities to Unleash Your Export Potential."
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