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NEXIM Bank urges SMEs in South-East, Delta State to access N500bn ESF
By Joseph INOKOTONG
The Nigerian Export-Import Bank (NEXIM) has called on export-oriented Small and Medium Entrepreneurs in the South-east and Delta States to access the N500 billion Export Stimulation Facility (ESF) and the N50 billion Export Development Fund being managed by the Bank to boost their businesses.
The money would also enhance more jobs creation, and contribute to the foreign exchange revenue earnings of the country.
This call was made in a statement by the Managing Director and CEO of NEXIM, Mr. Abba Bello, and made available by the Bank’s Enugu Regional Office after a one-day seminar on “Leveraging NEXIM Bank Facilities to Unleash your Export Potential.”
The seminar took place at the Oaklands Centre, Enugu, organised by the Bank and the SME Centre, Enugu.
The facilities were made available to NEXIM Bank last December and will lend at a maximum of 9% interest rate.
They funds were designed to redress the declining export credit to SMEs and reposition the non-oil sector to increase its contribution to the country’s revenue generation and economic development.
The improved export financing for non-oil exporters will enable them to upscale and expand their businesses and improve their competiveness.
Speaking on behalf of the Bank’s MD/CEO, the Head of the Bank’s Enugu Regional Office, Mr. Chinedu Moghalu stated that the funds are being made available to the NEXIM by the Central Bank of Nigeria at a time the Bank has decentralized its operations to all the regions of the country for easier accessibility of its products and services to maximize their impacts.
According to him, “NEXIM Bank is determined to ensure these funds achieve the desired impact of triggering non-oil export development, growth and economic progress in line with its mandate as the Trade Policy Bank of the Federal Government and the applicable CBN guidelines for the implementation of the facilities.”
A statement issued by the Nigerian Export-Import Bank (NEXIM), Enugu Regional Office said the representative of the Enugu State Governor and Special Assistant on SME Development, Anayo Agu, stated that the programme has come at the right time.
According to him, “the opening of NEXIM Bank Regional Office for the South-east and Delta States in Enugu, and the invitation to the SMEs to access affordable non-oil export facilities, had been the missing link in the efforts of various Governments in the region to derive maximum benefits from their investments in the SME value chain, especially in the agriculture and other non-oil sectors. It provides us the platform to reach heights we could only dream about before now.”
The objectives of the ESF as contained in the CBN guidelines are to: a) Improve access of exporters to concessionary finance to expand and diversify the non-oil export baskets; b) Attract new investments and encourage re-investments in value-added non-oil exports production and non-traditional exports; c) Shore up non-oil export sector productivity and create more jobs; d) Support export oriented companies to upscale and expand their export operations as well as capabilities; e) Diversify and increase the level of contribution of non-oil exports revenue towards sustainable economic development; and f) Broaden the scope of export financing instruments.
The transactions permissible for funding under the ESF include, export of goods wholly or partly processed or manufactured in Nigeria; export of commodities and services, which are permissible and excluded under existing export prohibition list; imports of plant and machinery, spare parts and packaging materials, required for export oriented production that cannot be produced locally.
Other businesses eligible under the ESF are export value chain support services such as transportation, warehousing and quality assurance infrastructure; resuscitation, expansion, modernization and technology upgrade of non-oil exports industries. Stocking facility and working capital can also qualify for funding under the ESF.
Potential applicants to the ESF can either send their requests through their local commercial banks or directly to NEXIM as the revised CBN guidelines assigns the Bank a dual role of both manager and participating financial institution.
The N50 billion Export Development Fund will be managed by NEXIM and implemented in collaboration with the State governments.
NEXIM has earmarked at least N1 billion for each State under the State Export Development Programme component aimed to catalyse and incentivize export investment to promote diversification and industrialization.
Through the Programme, NEXIM Bank will also have a programme for Women/Youth Development, especially to provide support to industries that are involved in Apparel/Garmenting, Cashew, Shea, etc.
The Central Bank Governor, Mr. Godwin Emefiele had stated at the announcing of the funds in December 2017 that the ESF can also be implemented by adapting the Anchor Borrowers Programme framework while promoting the PAVE initiative.
According to Moghalu, “The overall aim of the ESF and EDF is to lower the costs of Nigerian exporters so that their products can be priced at a level where they can compete with other products around the world.”
The NEXIM Bank Regional head urged eligible export-oriented companies in the Southeast and Delta States with permissible transactions under the schemes to participate in the funding scheme by submitting proposals for consideration through the financial institutions of their choice or directly to NEXIM Bank.
He emphasised that as Nigeria’s sole export credit agency, NEXIM Bank remains the only window through which the Government can provide export financing for non-oil products and services.
Thanking the participants and other stakeholders on behalf of the NEXIM MD, Mr. Moghalu gave assurance that the Bank is committed to working assiduously, in line with its mandate, to fully realise the objectives of the schemes and stated a readiness to provide the necessary advice, additional information or clarifications as may be required.
He thanked the Nigerian Export Promotion Council (NEPC), the Manufacturers’ Association of Nigeria (MAN), the commodity associations and other organised private sector for their relentless technical support, partnership and collaboration as well as the commitment to work with the Government and private sector in Nigeria to diversify the economy, create jobs, boost industrial production and exports.
Other participants at the seminar were Southeast Government officials; representatives from the members of various chambers of commerce and industries; SME professionals in the banking sector; as well as the media.
News
Audi: Trajectory of Success and Changing the Narrative
From a plethora of achievements and milestones—despite daunting challenges and shortcomings—the foresight, vision, and focused leadership of the present administration have transformed and repositioned the Service like never before in its history. In spite of limited funding and other grey areas yet to be addressed, the leadership has successfully turned around the narrative through deliberate rebranding efforts since assuming office.
Staff welfare remains paramount to the Commandant-General, who has consistently prioritized boosting esprit de corps and high personnel morale through the prompt payment of salaries, allowances, and other official entitlements as and when due. The leadership has also entrenched core values of integrity, intelligence-based security response systems, and professionalism across all operations. These measures have significantly reduced the activities of criminals, vandals, kidnappers, herdsmen, and illegal miners across the country.
In a press release signed by Mahmud Bello, Director of Media and Stakeholders Engagement of the Citizen Watch Advocacy Initiative (CWAI) in Kaduna State, the organization stated that the paramilitary agency has demonstrated genuine commitment to the interest of Nigerians through its open-door policy and robust engagement with its various publics. This approach has greatly reduced threats and disaster incidences nationwide through professional intelligence gathering, investigation, information sharing, manpower development, and strong collaboration with sister agencies—leading to remarkable improvement in disaster management as first responders.
Accordingly, transparency, accountability, and good governance have remained at the forefront of the present administration’s transformational philosophy. This has resulted in far-reaching reforms, including the regulation of private security companies, the introduction of Mining Marshals to secure strategic mining sites nationwide, containment of vandalism of critical national assets, reduction of oil theft in the Niger Delta region, and the assumption of VIP protocol protection responsibilities. These achievements surpass those of previous administrations and mark a significant milestone in the Service’s evolution.
CWAI authoritatively confirmed that the present management has introduced comprehensive institutional reforms that have repositioned the Service for greater productivity, efficiency, and effectiveness in delivering its mandate of safeguarding lives, property, and critical national assets—thereby reducing criminal activities and enhancing national security.
The Commandant-General, Professor Abubakar Ahmad Audi, reiterated that the reforms introduced align with his vision to upgrade the operational machinery of the Corps. He noted that the reorganization and revitalization of the training department are aimed at sharpening the skills and competencies of personnel to effectively address contemporary security challenges posed by hoodlums, bandits, kidnappers, and insurgents.
The establishment of the Mining Marshals and the Special Female Squad (SFS) are novel initiatives and the first of their kind in the history of the Corps. In response to the Federal Government’s Safe Schools Initiative, the NSCDC conducted audits and surveys of schools nationwide and developed a framework for proactive security measures to address the persistent attacks on educational institutions. These squads, like the Mining Marshals, are strengthening partnerships with local communities and stakeholders while prioritizing surveillance and monitoring to curb violent attacks and criminal activities.
The statement further emphasized that the Directorate of Legal Services has been reinvigorated and strengthened with enhanced prosecutorial competence, improving law enforcement and accountability. Similarly, the Anti-Vandal Unit has undergone major reforms and has been strategically deployed across the South-South geopolitical zone to curb pipeline vandalism, crude oil theft, and destruction of critical national assets. Over 2,500 suspects have been arrested since the beginning of the year for offences ranging from vandalism and attacks on national infrastructure to cattle rustling, banditry, attacks on farmers and farmlands, and illegal mining.
The Commandant-General attributed these successes to effective inter-agency collaboration, synergy, and partnerships, calling for comprehensive manpower development within the national security architecture.
Sports have also received significant attention under the present leadership, with officers and men of the NSCDC winning numerous laurels and trophies in various sporting engagements. All personnel, regardless of rank, have been provided with insurance cover against accidents, disability, or death in the course of duty. The Commandant-General views sports as a unifying platform that promotes wellness, camaraderie, information sharing, and mutual trust among paramilitary agencies.
CWAI further noted that the crackdown on illegal mining activities has saved the economy substantial revenue losses, while the destruction of over 450 illegal refineries has reduced oil theft. Additionally, the arrest of suspects and recovery of critical assets and railway materials valued at over ₦5 billion represent major milestones of the Service.
The organization therefore endorsed the change mantra of the Audi-led management and expressed confidence in the present leadership, noting that Nigerians are proud of its achievements despite prevailing challenges.
CWAI urged personnel to remain good ambassadors of the Corps—incorruptible and aligned with international best security practices wherever they serve. Nigerians were also encouraged to support the management in strengthening efforts against vandals and criminals nationwide.
The organization appealed to corporate bodies and public-spirited individuals to support President Bola Ahmed Tinubu’s Renewed Hope Agenda, particularly efforts to modernize the NSCDC through funding, partnerships, manpower development, capacity building, and the acquisition of modern security equipment.
Finally, CWAI emphasised the need for increased national budgetary allocation to the NSCDC in view of its critical role in the nation’s security architecture, including its added responsibility of VIP protocol protection. It also called for the entrenchment of a standard training curriculum to enhance career progression, effective supervision, and transparent regulation of Private Guard Companies across the country.
News
Senator Monguno Launches ₦250 Million Mega Empowerment Programme for 2,500 Constituents
The Senator representing Borno North Senatorial District, Chief Whip of the Senate and Vice Chairman of the Senate Committee on Appropriation, Distinguished Senator Mohammed Tahir Monguno, has unveiled a ₦250 million Mega Empowerment Programme designed to strengthen grassroots economic development through skills acquisition and financial support. The initiative, targeting 2,500 constituents, commenced with the disbursement of ₦125 million to 1,250 beneficiaries in the first batch, each receiving ₦100,000 as start-up capital. The second batch of 1,250 beneficiaries is scheduled to receive the remaining ₦125 million next week, ensuring equitable coverage across the constituency. Ahead of the disbursement, participants underwent a four-day intensive training in Tie and Dye, Cake Making, Tailoring, Entrepreneurship, Soap Making, Groundnut Cake Production, and Hairdressing. The programme deliberately focused on youths and women, equipping them with practical skills to foster self-reliance, productivity, and sustainable livelihoods. Prominent stakeholders, including Alhaji Kallah Maina Monguno, Hon. Mohammed (M-Gas), and APC Local Government Chairmen, commended Senator Monguno’s people-focused leadership. They described the initiative as timely and impactful, urging beneficiaries to apply the support responsibly as a strategic investment in human capital development. Speaking on behalf of the organisers, Mr. Suleiman reaffirmed their commitment to transparency and sustainability, advising participants to remain disciplined and dedicated to their chosen trades. The event drew wide attendance from political leaders, religious figures, and youth and women group representatives, underscoring its significance. Senator Monguno emphasized that the programme is not a one-off intervention but a long-term strategy to strengthen skills acquisition, promote entrepreneurship, and create sustainable sources of livelihood. He noted that the initiative complements Governor Babagana Zulum’s human capital development agenda and aligns with the broader vision of reducing unemployment and fostering inclusive economic growth in Borno State.
News
TETFund Begins Construction of Abuja Leadership Centre
The Tertiary Education Trust Fund (TETFund) has initiated the construction of the Abuja Leadership Centre of Excellence in Public Governance at Yakubu Gowon University, formerly known as the University of Abuja.
The Executive Secretary of TETFund, Sonny Echono, officially launched the project alongside the Vice-Chancellor of the University of Abuja, Professor Hakeem Babatunde Fawehinmi, and the Director of the Centre, Professor Philip Dahida, during a ceremony held on Tuesday in Jahi, Abuja.
During the event, Echono emphasized the goal of making the Abuja Leadership Centre “a stopping point for every leader visiting the country.” He described leadership as a crucial element of national development, noting that the success or failure of nations often hinges on the quality of leadership they cultivate.
He highlighted that effective leadership relies on a collective effort to utilize intellectual, human, and material resources, which, when efficiently coordinated, can drive national development aspirations.
Echono disclosed that TETFund plans to commission approximately 467 projects across tertiary institutions nationwide between now and October. “It is my prayer and hope that this centre will become a stopping point for every leader visiting our country. Its location in the nation’s capital is not accidental,” he remarked.
The TETFund boss expressed optimism that the Abuja Leadership Centre would develop into a world-class facility capable of nurturing leaders across various sectors of the economy and hosting globally recognized speeches, conventions, and declarations.
The TETFund Executive Secretary urged the contractors responsible for the project to meet expectations, emphasizing that the goal is to create a facility of international standard. He assured that TETFund would provide funding not only for construction but also for high-quality furniture and equipment.
According to him, the Centre is envisioned as more than just a conference hall or auditorium; it aims to be a top-tier leadership facility where visiting heads of state and their delegations will feel at home, comparable to similar facilities worldwide.
Echono praised the leadership of the University of Abuja and the Centre for the stability and direction they have brought to the institution, reaffirming TETFund’s commitment to collaborating in order to realize the vision of the university’s founders. He emphasized that, by its name and mandate, the university must continue to promote national unity, integration, and excellence, particularly in leadership and governance.
Regarding the commissioning of projects, he noted that it would not be feasible for the agency to inaugurate all projects directly, but at least 50 iconic projects would be selected across the states, with a minimum of two to three in each state.
Earlier, in his remarks, Vice-Chancellor Professor Fawehinmi stated that the groundbreaking ceremony marks a new phase in the university’s collaboration with TETFund. He noted that the Abuja Leadership Centre would function as a center of excellence for public governance and leadership, serving as a national hub for training future leaders who will significantly impact policy formulation and national development.
The Vice-Chancellor commended Echono’s leadership at TETFund, pointing out that under his guidance, the agency has transformed tertiary education not only through physical infrastructure but also in staff development, libraries, and other essential facilities.
He expressed confidence that TETFund would ensure the timely completion and proper furnishing of the Abuja Leadership Centre so that it can be fully utilized to achieve its objectives. Fawehinmi assured that the university would maximize the use of the facility, describing the project as a historic intervention that would be remembered for years to come.
“Today, we further strengthen our long-standing partnership, and we are delighted to announce that this Abuja Leadership Centre will be a center of excellence for public governance and leadership. It will serve as a national hub for training future leaders who will be involved in policy decisions for the development of their country. We extend our gratitude to you and your team, as we recognize the importance of nurturing our relationship into the future. Executive Secretary, you have done exceptionally well over the years. You have led one of the most impactful intervention agencies for tertiary education in the country, and we are very proud of your achievements,” he added.
The Director of the Abuja Leadership Centre, Professor Dahida, praised TETFund for commencing the construction of its permanent site, stating that the development signifies the realization of a vision rooted in the belief that leadership is the most vital resource for good governance, institutional excellence, and national development.
Dahida revealed that the Centre was established to serve as a hub for thought leadership, capacity development, policy dialogue, and ethical reorientation, not only for the University of Abuja but for Nigeria and the wider African region. Adding that the Centre is also designed to bridge the gap between theory and practice, academia and policy, and leadership ideals with real-world application.
He charged the contractor to execute the project strictly in line with the approved specifications, timelines, and agreed standards. Stressing that the facility must reflect world-class quality, professionalism, and durability, while public funds entrusted to this project must translate into tangible value, accountability, and excellence.
“Today marks far more than the commencement of a construction project. It signifies the physical birth of a vision, one rooted in the conviction that leadership is the most critical resource for good governance, institutional excellence, and national development.
“The Abuja Leadership Centre, TETFund Centre of excellence, was established to serve as a hub for thought leadership, capacity development, policy dialogue, and ethical reorientation, not only for the University of Abuja but for Nigeria and the wider African region.
“At a time when nations are confronted with complex governance challenges, evolving public expectations, and rapid socio-economic change, the need for principled, competent, and forward-looking leaders has never been more urgent.
“I wish to express our deepest and most sincere appreciation to the Tertiary Education Trust Fund (TETFund), and in particular to the Executive Secretary- Dr. Sunday Echono, for the approval and support that made this project possible.
“I also wish to specially commend the Vice-Chancellor of the University of Abuja, Prof. Hakeem Babatunde for his exemplary leadership, swift action, and unwavering support. From assumption of office, the Vice-Chancellor has demonstrated uncommon commitment to institutional growth and innovation.
“As we formally break ground today, I take this opportunity to enjoin the contractor to execute this project strictly in line with the approved specifications, timelines, and agreed standards. This facility must reflect world-class quality, professionalism, and durability. Public funds entrusted to this project must translate into tangible value, accountability, and excellence,” Dahida warned.
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