NEXIM, Kwara Partner On Industrialisation, Commodities Export

Date: 2023-11-17

The Nigerian Export-Import Bank (NEXIM) has signed a memorandum of understanding with the Kwara State Government as part of the bank's effort to achieve the federal government's drive to increase economic growth and job creation by boosting investments in the non-oil export sector.

NEXIM said it is driving that vision through a partnership arrangement with state governments under its state export development programme.

In furtherance of this objective, an agreement was signed during the 2023 Intra-African Trade Fair, which took place from 9th to 15th November 2023 in Cairo Egypt to upscale the production and boost the export of a vast array of Agricultural and Mineral commodities in Kwara state, the bank said in a statement by its head, strategy and corporate communications, Mr. Tayo Omidiji.

Kwara State Governor Abdulrahman AbdulRazaq, signed the agreement for the state government, while the MD/CE of NEXIM Bank, Abba Bello signed for MEXIM.

The MoU signing was preceded by deliberations between the two parties on the various ongoing and prospective economic projects of the state government, including the industrial park, the IsDB-backed agro-processing zone, sugar processing factory, garment and Shea butter factories, solid mineral projects, and the visual arts centre, which is unique in the West Africa sub-region.

The partnership will qualify agencies of entrepreneurs and exporters in Kwara State to access the state export development funds and other facilities upon fulfilment of relevant terms and conditions as was agreed with NEXIM Bank.

It further entails the provision of financial and export advisory services which will include working out financing arrangements, and investment mix as well as facilitating export market off-take, especially for SMEs and businesses operating in the export value chain that support women and youth empowerment.

Governor AbdulRazaq stated that the state government has invested in different projects and adopted policy initiatives that seek to diversify the local economy, including the reduction of the telecommunication right-of-way from N5,500.00 to N1.00 and emphasised that the policy initiative has yielded significant results for the state. He reiterated his commitment to expand the efforts of his administration to develop the economic potential of the state.

Also, NEXIM's Bello spoke about the initiatives of the bank to promote at least one exportable commodity in every state of the federation towards achieving the economic diversification and expansion drive of the federal government. He added that the proposed partnership with Kwara State will position the state and north-central region towards effective participation in the continental market under the African Continental Free Trade Agreement (AfCFTA).

In closing, both parties agreed to work together to unlock the opportunities, towards boosting the contribution of the state to non-oil exports and the economic diversification objectives of the federal government of Nigeria.

NEXIM Bank is one of the federal government agencies attending the IATF 2023 which winds down on Wednesday, November 15, 2023

Attended by over 4,000 delegates, exhibitors, and industry leaders, the IATF is the marketplace for the AfCFTA, the largest free trade area which brings together African nations of the African Union and eight regional economic communities to create a single market for the continent.

The event is organized bi-annually by the African Export-Import Bank (Afreximbank) and the African Union Commission (AUC).

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Abdullahi Samari     Oba Abdulkadir La\'aro     Kamaldeen Gambari     Abdullahi Atanda     Fareedah Dankaka     Okin Biscuits     Idris Garba     Nigerian Supreme Council For Islamic Affairs     Logun     Omotosho     Joana Nnazua Kolo     Omoniyi     Oro Grammar School Old Students Association     Sherif Sagaya     Ekweremadu     Razaq Atunwa     Veterinary Teaching Hospital     New Naira Notes     General Hospital     Adijat Adebiyi     Baboko Primary School     Kunle Akogun     Modibbo Kawu     Reuben Paraje     Akeem Olatunji     Abraysports FC     Umar Ahmed Gunu     Oko-Erin     UITH     Ilorin Emirate     Deji Ajani     Alaro     Oloye     Muhammed Akanbi     Kabir Shagaya     Amuda Musbau     SGBN     Saheed Popoola     Pacify Labs     Soffiyyallah Kamaldeen     Hikmah AbdulKareem     General Tunde Idiagbon International Airport Ilorin     Mike Omotosho     Press Release     Onilorin Of Ilorin     Lafiagi     NFAI     Kayode Ogunlowo     Alabi Olayemi Abdulrazak     Saduki Lafiagi     Laboratory-to-Product     Muhammad Sirajo Aliyu     Clara Nwachukwu     Ayinde Oki     Face Masks     Laolu Saraki     Abdullahi Adisa Akodudu     Idris Amosa Oladipo Saidu     Abdulraheem Olesin     Special Agro-industrial Processing Zone     Standard Organization Of Nigeria     Kwara Pdp     Kanu Agabi     Hydroelectric Power Producing Areas Development Commission     Kale Bayero     Funmilayo Braithwaite     Emir Of Yashikira     Balogun Ajikobi     Ojuekun Sarumi     Umar Yakubu Jaja     Olatunde Olukoya     Ilorin Airport     Alikinla     Raheem Adaramaja     Saudat Abdulbaqi     Minimum Wage     Idofin    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Umar Danladi Shero     Ijakadi     Freshvine Nigeria Limited     Ilofa     Standard Organization Of Nigeria     Muhammed Taofeeq Abdulrazaq     Budo Egba     Overland     Council Of The Wise     Abdullahi Adisa Akodudu     Taofeek Sanusi     Toun Okewale-Sonaiya     Mohammed Abdulahi     Muritala Awodun     Harrison Osauwagboe     Tescom.kwarastate.gov.ng     Sheikh Ridhwanullah El-ilory     Volunteers Of Ilorin Community And The Emirate     Abdulwasiu Bolaji Adeyi     Minister     Olusin Of Ijara Isin     Muslim Stakeholders Of Kwara State     Olupako     Abdulkadir Bolakale Sakariyah     Minimum Wage     Fatima Abolore Jimoh     Curfew     Yusuf Aiyedun     Abubakar Atiku     Kwara State Television     Folorunsho Alao     David Adesina     Yusuf Ali     CELF     General Tunde Idiagbon International Airport Ilorin     Olatunde Oyeyiola     S.O. Opowoye     Talaka Parapo     Sarafadeen Kayode Akorede     Nupe     Orisun Igbomina     Oba Abdulraheem     Yusuf Badmus     Share/Tsaragi     Awili Pedro     Ibrahim Abduquadri Abikan     Ilorin Emirate     Yaru     Sunday Fagbemi     Kwara 2023     MalHub     Offa     Ibrahim Issa Jetti     Kazeem Gbolagade     Ibrahim Orire     Oro Grammar School     Yusuf Amuda Aluko     Maimunat Oniyangi     Sulu Babaita Isiaka     Obasanjo     Shuaib Jawondo     Mutawalle     Adesoye     Ogidi-Oloje     Hijaab     Rabiu Kwankwaso     NITDA     Kayode Ibrahim     Yomi Adeboye     Chief Imam Of Omu-Aran     Mansurat Amuda-Kannike     Abdulrahman Onikijipa     HAMFAT Clinic And Maternity     Hassan A. Saliu     Kola Adesina     Ridhwanullah Al-Ilory     Ilorin South Constituency