Post by Trade facilitator on Oct 25, 2011 5:29:40 GMT 1
Nigerian Export-Import Bank - The Nigerian Export-Import Bank (Nexim) said it had concluded arrangements to spend 3.7 billion naira to finance local industries aiming to export their products, according to its Chief Executive Officer, Mr. Robert Orya (US$1=155 naira). The private Tribune Newspaper reported Monday that the beneficiaries included two cement plants under construction in the Northern states of Gombe and Kebbi, as well as companies exporting granite, rubber, furniture and processed food.
”The companies, by the impact of our credit, are expected to generate foreign exchange earnings of US$150 million this year and also create 8,000 jobs.
'Our mandate is to promote non-oil exports in manufacturing, agriculture, solid minerals and services sectors, while our support for imports is only in critical areas of inputs and machinery needed for export-oriented production,” the paper quoted Orya as saying.
He said Nexim was more than doubling its credit disbursements this year at single-digit interest rates to companies in export-oriented industries to boost the country’s foreign income.
The Nexim boss said some of the companies that have benefited from its disbursement would start producing “before the end of the first quarter of next year, with target capacity of 900 metric tonnes per day.
Source: www.afriquejet.com/nigeria-exim-bank-2011102425787.html
”The companies, by the impact of our credit, are expected to generate foreign exchange earnings of US$150 million this year and also create 8,000 jobs.
'Our mandate is to promote non-oil exports in manufacturing, agriculture, solid minerals and services sectors, while our support for imports is only in critical areas of inputs and machinery needed for export-oriented production,” the paper quoted Orya as saying.
He said Nexim was more than doubling its credit disbursements this year at single-digit interest rates to companies in export-oriented industries to boost the country’s foreign income.
The Nexim boss said some of the companies that have benefited from its disbursement would start producing “before the end of the first quarter of next year, with target capacity of 900 metric tonnes per day.
Source: www.afriquejet.com/nigeria-exim-bank-2011102425787.html
