NEXIMBank,YobeSignExportDevelopmentPact

The Nigerian Export-Import (NEXIM) Bank has signed a Memorandum of Understanding (MOU) with the Yobe State Government to facilitate exportrelated industrialisation and attract investments that would utilise local resource endowments in the state.

The partnership is also aimed at creating sustainable economic development in the state as well as fulfil the Bank’s its mandate of promoting non-oil export development across the country.

At a ceremony in Abuja, Managing Director of the bank Mr. Abba Bello expressed its willingness to progress partnership opportunities with the state to drive the bank’s economic diversification efforts and to promote the development of exportable agricultural products in the state

In a statement by NEXIM’s Head, Strategy and Corporate Communications, Mr. Tayo Omidiji, the MD was quoted to have said the Bank had launched the Regional/State Export Development Fund whereby at least N1 billion had been earmarked per state towards developing at least one commodity of export significance in furtherance of the federal government’s objectives under the One State, One Product Programme, adding that the proposed partnership will also support jobs creation and economic development of the state. The Executive Director (Business Development), NEXIM Bank, Stella Okotete, while presenting some of the bank’s products and initiatives reiterated the objectives of the State Export Development Programme, adding that the bank’s intervention is targeted at developing all aspects of the export value chain from production to processing, under its new philosophy of PAVE