NEXIM Bank CEO Urges Importers to Embrace Export Trade

Launches NEXHUB Lagos office to boost international trade

The Managing Director of Nigerian Export Import Bank (NEXIM), Mr. Abubakar Abba Bello, has urged businessmen, especially importers in Alaba International Market, Aspanda and Trade Fair, to embrace export business as a way of earning foreign exchange and bolstering the economy.

Bello, made the call yesterday, during the inauguration of the Nigerian Exporters’ Hub (NEXHUB) Lagos Regional Office, a forum for people to meet for the purpose of international trade.

He said: “I encourage everyone to get on the wagon and start thinking export. Even businessmen from ASPANDA, Trade Fair, Alaba International Market should start generating their own foreign exchange through exportation.

“I am encouraging you as importers to look away from reliance on import and go into export. You will generate your own foreign exchange and put it into use if you want to import.

“We want you to do less and less import and to do more export for our economy to get stronger and the Naira to get stronger also.”

He added that this shift would demand a new mind step and deliberate steps to achieve.

“We have to start thinking differently. We have to be innovative. We have to explore and exploit all the resources that abound in this country.

“Today the economy is having issues around forex instability, inflation and unemployment. So, deliberate export of non-oil goods and products is the way to go,” he said.

Bello, explained that the NEXHUB would bring Nigerians and Nigerian products together with the export market by providing market information that would remove the challenges that make it difficult to export from Nigeria.

“It is an export house that aggregates all Nigerian exports and represent them in the international market. This hub will make it easier for me to offer finances because it will assume some of the risks that I fear about as a financial institution.

“Because what stops fund from flowing to export is the very high risk that is associated with it.

“We are very ready to support every potential exporter irrespective of his or her volume of export. We have facilities that are tailored for every class of exporters, including Nano businesses. Once you have a product and a market we can lend money to you to do that as part of our trade facilitation,” he said.

The Special Assistant to President on Export Expansion, Mr. Aliyu Bunu Sheriff, said exports was a crucial strategy in addressing the country’s economic challenges like shortage of foreign exchange, inflation, etc.

Sheriff, said increasing non-oil export would create jobs and generate much needed foreign exchange and reduce dependence on oil revenue.