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.

Sadiq Buhari     C2c@kwarastate.gov.ng     Rafiu Olasile     Doyin Group     Timothy Olatunde Fadipe     Ayodele Kuburat Olaosebikan     Oloje     Yaman     Dasuki Belgore     Kola Shittu     Mohammed Jimoh Faworaja     Omupo     2023 Elections     Ayekale     Alabi Olayemi Abdulrazak     Law School Scholarship     Falokun-Oja     Simon Sayomi     Mustapha AbdulGaniyu     Sola Saraki Educational Foundation     Ajibola Saliu Ajia     Gafaru Olayiwola Olorisade     Minister     Ganmo Power Sub-Station     Abdulkadir Akanbi-Oke     University Road     Woro     Council Of The Wise     Ilorin Amusement Park     Sarafadeen Kayode Akorede     Riskat Opakunle     Saka Keji     Sherif Sagaya     Lawal Jimoh     Omotoso Musa     Elekoyangan     Abdullahi Biffo     Anilelerin     Saad Belgore     Babatunde Idiagbon     Najim Yaasin     Kola Ologbondiyan     Amuda Aluko     Lola Ashiru     Abdulkareem Alabi     Yashikira     Abubakar Baba     Sidikat Uthman Ajibola     Salihu Yahaya     Abdulrazaq Akorede     Christopher Tunji Ayeni     Olaitan Adefila     Kale Bayero     Buhari     Unilorin     Adamu B. Yaqubu     Bank Of Industry     Ayeyemi Sulaiman     Wahab Egbewole     Issa Manzuma     Muhammad Akande Olarewaju Odunade     Olokoba     Bankole Omisore     Omotoso     Abdulraheem Olesin     Oye Tinuoye     Ishak Mohammed Sabi     Saba Jibril     Shonga Farm Project     Government Girls’ Day Secondary School Pakata     Ajia-Bako     Eghe Igbinehin     Aso Ofi     Mufti Of Ilorin     Kwara South     KSIRS     Ajike People Support Centre    

Cloud Tag: What's trending

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

Gbenga Adebayo     Suleiman Rotimi Iliasu     Na\'Allah     Jimoh Bashir     Prince Bola Ajibola     David Adesina     Amos Sayo     Farouk Salim     United Nigeria Congress Party     Adeola Abraham     Ilorin Like-Minds     Michael Imoudu National Institute For Labour Studies     Henry Makinwa     Olawuyi     Oba Sulaiman Asude     Moses Afolayan     Ayo Adeyemi     Dauda Adeniran Adeshola     Convocation Ceremonies     Yusuf Badmus     Olusola Saraki     Police Commissioner     Ganiyu Abolarin     Apata Ajele Secondary School     Kwara Central     Demola Banu     John Olobayo     Arandun     Ope Saraki     Abioye Bello     Egbejila     Ibraheem Abdullateef     Olayinka Are     Idiagbon     Ahman Pategi University     Mumeen Lah     African Democratic Congress     Ibrahim Abdulqadir Abikan     Michael Nzwekwe     NURTW     Oni Adebayo     Ibikunle Ogunleye     Kwara Consultative Forum     SWAN     Federal Neuro-Psychiatric Hospital     Col. Taiwo     Kwabes     Kwara State Health Insurance Agency     Oloriegbe     Haleeman Salman     Sadiq Umar     Kwara State Branch Of The National Library     Raliat Elelu-Habeeb     Simeon Sule Ajibola     AbdulGaniyu Kareem     Savannah Centre For Diplomacy, Democracy And Development     Ilorin South Constituency     IEDPU     Olatunji Moronfoye     Kwara State Polytechnic     Yusuf AbdulRasheed     Emir Of Lafiagi     Iponrin     Abdulrosheed Okiki     Osinbajo     Amuda Aluko     Apado     Bola Shagaya     Adedipe     Lafiagi     Al-Hikmah University     Towoju     Principal Private Secretary     Abdulhakeem Amao     Afonja     Orisa Bridge     Oyedun Juliana Funke