In keeping with its mandate as Nigeria's Export
Credit Agency, the Nigerian Export-Import Bank (NEXIM) in synergy with the
Central Bank of Nigeria (CBN) and other financial institutions has stated that it
will implement two intervention schemes to revamp ailing industries and enhance
their contributions to non-oil exports in the country.
The intervention schemes, according to the bank,
are in two categories predicated on its broad philosophy of Produce, Add Value
and Export (PAVE) policy in line with the diversification strategy of federal government
as enunciated in the Economic Recovery and Growth Plan (ERGP).
Speaking in Katsina during its two-day exporters'
enlightenment Forum on Tuesday, the Managing Director of the bank, Abba Bello,
said the bank's objective is to support export-oriented projects in all parts
of the country.
He reaffirmed that besides revenue volatility, the
oil sector is incapable of supporting inclusive economic growth that would
provide jobs and economic opportunities for the country's teeming population,
hence the initiative.
According to him, "Our plan is to assist
indigenous producers to optimise their capacity and also move up the value
chain to produce finished products. We have observed that North West is quite
rich in agricultural and mineral resources, and therefore has the capacity to
benefit significantly from the programme.
"A portion of the Export Development Fund has
also been set aside to support industries that are major employers of women and
youths under a special economic empowerment scheme for the vulnerable groups.
Also speaking, the Katsina State Governor, Aminu
Bello Masari, represented by the state Commissioner for Commerce and
Industries, Abubakar Yusuf, said the government has established an investment
promotion agency to collaborate with NEXIM to enhance exportation of commodities
from the state.
No comments:
Post a Comment