NEXIM Bank’s initiative unlocks full potentials of MSME
By Vivian Emoni
The Nigerian Export-Import Bank (NEXIM) has underscored the transformative role of the bank’s EXCEL programme in unlocking the full potentials of Nigeria’s Micro, Small, and Medium Enterprises (MSMEs).
Mr Abubakar Bello, Managing Director and Chief Executive Officer of NEXIM made this known at the SME Export Finance Sensitisation Forum organised by NEXIM in Abuja on Wednesday.
The forum was in collaboration with the Sustainable and Inclusive Economic Development for Decent Employment programme in Nigeria (SEDIN) and its implementing partner, Gesellschaft für Internationale Zusammenarbeit (GIZ).
Bello said that the effort was part of the strategy to strengthen Nigeria’s export ecosystem, adding that the MSMEs were the backbone of Nigeria’s economy.
“With more than 41 million MSMEs accounting for 96.9 per cent of all registered businesses, contributing 48 per cent to Gross Domestic Product (GDP) and employing 87.9 per cent of the workforce, their impact cannot be overstated,”
“Yet, 55 per cent of the MSMEs struggle with access to finance and many fail within their first five years due to structural challenges such as infrastructure deficits, high business costs and regulatory burdens.”
Bello said that the EXCEL Programme was conceived in partnership with GIZ, to address the challenges.
“It is a strategic, digitally enabled initiative aimed at identifying and supporting export-ready MSME clusters across Nigeria.
“Through targeted training and access to tailor-made financial products, EXCEL will empower MSMEs to scale operations and compete globally,” he explained.
While citing World Bank data, Bello noted that exports of goods and services currently contribute only about 7.64 per cent to Nigeria’s GDP.
He said that the figure reflected the vast untapped potentials of the MSME export sector.
“To help close this gap, NEXIM Bank has introduced several export financing solutions including the SME Export Facility (SMEEF), Women and Youth Export Facility (WAYEF).
“These are complemented by the bank’s NEXA digital platform, which offers MSMEs access to export services, financial management tools and other digital resources.
“We are also preparing to onboard our SME clients onto the African Trade Gateway (ATG) to facilitate market access, streamline payment systems and promote intra-African trade, under the African Continental Free Trade Area (AfCFTA),” he added.
Bello applauded the enduring partnership between NEXIM and GIZ, describing it as one built on shared values and a mutual commitment to inclusive growth.
He also acknowledged the strong presence and support of key stakeholders, including the Nigerian Export Promotion Council (NEPC), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Abuja Enterprise Agency (AEA).
He also appreciated Nigeria Association of Small and Medium Enterprises (NASME), Women Chamber of Commerce, Industry, Mines and Agriculture (WACCIMA), among others.
“This forum is not just an event, it is the beginning of a new journey. I encourage all participants to engage actively, ask questions, and take full advantage of the opportunities presented today,” Bello said.
Speaking, Mr Dideir Djoumessi, a representative of GIZ, commended NEXIM for its proactive role in creating opportunities for Nigerians across non-oil value chains.
“Today’s forum marks the beginning of a nationwide sensitisation campaign, with upcoming sessions planned in Edo, Plateau, and Lagos States.
“These efforts highlight NEXIM’s leadership and our joint commitment to equipping MSMEs with the tools they need to succeed in export markets,” he said.
“From GIZ’s perspective, supporting the EXCEL initiative aligns with its belief in the untapped potential of Nigerian MSMEs.
“With the right mix of finance, capacity building, and market access, MSMEs can fully leverage opportunities under the AfCFTA and other global markets,’’ he said.
Djoumessi encouraged the MSME participants be pay attention to the discussions and make the most of the session.
“Engage, ask questions, and explore how the insights shared today can be applied to strengthen your businesses and clusters.
“Together, through initiatives like EXCEL, we can build an inclusive, export-ready MSME sector that drives Nigeria’s diversification and long-term growth.” (NAN)(www.nannews.ng)
Edited by Francis Onyeukwu
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