The Nigerian Export Import Bank recently presented its score card in the last 24 years. According to Robert Orya, managing director of NEXIM Bank, the financial institution has disbursed a total N107.48bn as loan to Nigerian exporters within the last 24 years. The bank also facilitated the creation of 64,096 direct jobs, and the generation of $1.36bn annually during the period. He said the intervention from the bank was targeted at four major sectors of the economy. They are manufacturing, agro processing, solid minerals and services.
He said that the bank also disbursed N47.18bn under his tenure since August 2009 and facilitated the creation of 27,917 direct jobs as well as generating foreign exchange of $378.51m annually within the period. “From inception to date, the bank has granted loans/issued guarantees to Nigerian exporters with some engaged in green field projects to the tune of N107.48bn, thus supporting the creation of 64,096 direct jobs, in addition to many indirect jobs and facilitating foreign exchange generation of $1.36bn annually through the projects supported.
“Over the years, the NEXIM has supported various projects in Benue State with total disbursement of N4.14bn. Of this amount, N3.12bn or 78 per cent was disbursed between 2009 and 2015,” he added. The breakdown of projects financed in the state was in three main sectors, namely, manufacturing (30 per cent), agro processing (42.5 per cent) and services (27.5 per cent).
Governor Samuel Ortom of Benue State said the state needs NEXIM’s assistance for the industrialization because government alone did not have the needed funding to achieve such objective. “To create jobs and wealth for our people, we need to take advantage of agriculture and solid minerals and NEXIM bank’s role is vital in all of these. We expect you to do more. Exporting raw materials is exporting jobs, opportunities and wealth and we don’t want to engage in such. My government has passion for what you are doing and I will create the conducive environment for you to assist us. The way to go in Nigeria now is through industrialization, the way to go is investment. This will help us take us out of the economic woes that we are in now,” Ortom said.
By Dike Onwuamaeze