Post by Trade facilitator on Apr 12, 2024 20:58:20 GMT 1
Boosting Nigerian Exports: How NEXIM’s Export Refinancing Facility And Other Financial Services Support Businesses In Nigeria
Introduction:
The Nigerian Export-Import Bank (NEXIM) is a one-stop shop designed to assist Nigerian businesses venturing into exporting. You should be aware that exporting is not the same as local supply business where you almost can see your buyer face to face; you know almost all the rules guiding doing business in your country. Exporting is a different ball game altogether, you need to learn all relevant and valuable rules and apply them correctly before you can make a success of exporting.
This organization, NEXIM is a very important government agency dedicated to enhancing exporting in Nigeria; please pay attention to all we will be exposing to you in this article, you must need them in your export journey.
Before we go into the main post of today I want us to pay special attention to what I am going to show you below especially if you are just getting into exports:
NEXIM’s Export Refinancing and Rediscounting Facility (RRF)
NEXIM's Export Refinancing and Rediscounting Facility (RRF) helps Nigerian exporters by addressing a key challenge: access to credit for longer-term export activities. Here's a breakdown of how it supports them:
Easing the burden on Banks: This facility encourages banks to provide longer-term financing for exports (beyond the typical short-term options). NEXIM essentially takes on some of the risk from the bank by refinancing the loan after a certain period. This frees up the bank's capital for other ventures.
Access to Longer-Term Financing: Exporters can secure financing for extended periods, which is crucial for activities like building production capacity or fulfilling larger export contracts. This allows them to compete in markets requiring longer production cycles.
Potentially Lower Interest Rates: NEXIM often offers refinancing at concessionary rates, meaning lower than what banks might typically charge. This reduces the overall financing cost for exporters, making exporting more financially viable.
Improved Cash Flow: By extending the repayment period, exporters have more time to generate revenue from their exports before needing to settle the loan. This improves their cash flow situation and allows them to reinvest in their businesses.
Overall, the Export Refinancing and Rediscounting Facility acts as a bridge between banks and exporters, providing the latter with access to essential long-term credit at potentially lower costs. This fosters a more supportive environment for Nigerian businesses to thrive in the international export market.
You can see what you stand to gain by applying and using this facility, use it to your advantage and carryout your export business with ease and peace of mind.
With NEXIM's support, Nigerian businesses can take advantage of the vast opportunities available in the global market.
What Are The Services That The Nigerian Export Import Bank (NEXIM) Can Offer A Newbie Exporter In Nigeria?
The Nigerian Export-Import Bank (NEXIM) can be a valuable resource for newbie exporters in Nigeria. Here are some of the services they offer that can be particularly helpful:
Financing: NEXIM offers various financing facilities, including:
Direct Lending Facility: Provides loans in local currency for working capital or equipment needed for export production.
Foreign Input Facility: Grants credit to businesses to procure foreign inputs required for export. These facilities can help bridge the gap in funding for new exporters.
Export Financing: NEXIM offers various financing options such as pre-shipment and post-shipment financing to support exporters in the process of producing and shipping goods.
Risk Management: NEXIM offers:
Export Credit Guarantee and Insurance: Protects exporters against non-payment by foreign buyers due to political or commercial risks. This can give you peace of mind and encourage you to take on new export opportunities.
Advisory Services: NEXIM can provide guidance on various aspects of exporting, such as:
Export Advisory Services: For new exporters, NEXIM provides advisory services to guide them through the export process. This includes information on market intelligence, export documentation, export promotion, and export incentives.
Export Guarantees: The bank provides guarantees to facilitate access to credit for exporters, enabling them to obtain loans and other forms of credit from financial institutions.
Export Promotion: NEXIM supports new exporters through export promotion activities such as trade fairs, exhibitions, and workshops to showcase Nigerian products and connect exporters with potential buyers.
Export Capacity Building: NEXIM offers training and capacity building programs to equip newbie exporters with the necessary skills and knowledge to succeed in international trade.
Regulatory compliance: This can help you navigate the complexities of exporting and increase your chances of success.
Trade Information System: NEXIM maintains a database of information on potential markets, trade regulations, and other resources to help you make informed decisions.
By taking advantage of NEXIM's services, newbie exporters in Nigeria can gain valuable support and increase their chances of success in the international marketplace. These services are designed to encourage and support Nigerian businesses venturing into the export market, helping them overcome common challenges and expand their reach globally.
In our next article on this, I am going to show you step-by-step of how to operate the Export Refinancing and Rediscounting facility (RRF).
Stay with us.
Addendum:
You Need To Engage With Us To Learn More:
Our company is one of the best companies in the Agro-Export business in Nigeria today. We train individuals and corporate organizations on how to do Export Business the right way; if you are interested, please contact the admin of this forum now for further details.
Introduction:
The Nigerian Export-Import Bank (NEXIM) is a one-stop shop designed to assist Nigerian businesses venturing into exporting. You should be aware that exporting is not the same as local supply business where you almost can see your buyer face to face; you know almost all the rules guiding doing business in your country. Exporting is a different ball game altogether, you need to learn all relevant and valuable rules and apply them correctly before you can make a success of exporting.
This organization, NEXIM is a very important government agency dedicated to enhancing exporting in Nigeria; please pay attention to all we will be exposing to you in this article, you must need them in your export journey.
Before we go into the main post of today I want us to pay special attention to what I am going to show you below especially if you are just getting into exports:
NEXIM’s Export Refinancing and Rediscounting Facility (RRF)
NEXIM's Export Refinancing and Rediscounting Facility (RRF) helps Nigerian exporters by addressing a key challenge: access to credit for longer-term export activities. Here's a breakdown of how it supports them:
Easing the burden on Banks: This facility encourages banks to provide longer-term financing for exports (beyond the typical short-term options). NEXIM essentially takes on some of the risk from the bank by refinancing the loan after a certain period. This frees up the bank's capital for other ventures.
Access to Longer-Term Financing: Exporters can secure financing for extended periods, which is crucial for activities like building production capacity or fulfilling larger export contracts. This allows them to compete in markets requiring longer production cycles.
Potentially Lower Interest Rates: NEXIM often offers refinancing at concessionary rates, meaning lower than what banks might typically charge. This reduces the overall financing cost for exporters, making exporting more financially viable.
Improved Cash Flow: By extending the repayment period, exporters have more time to generate revenue from their exports before needing to settle the loan. This improves their cash flow situation and allows them to reinvest in their businesses.
Overall, the Export Refinancing and Rediscounting Facility acts as a bridge between banks and exporters, providing the latter with access to essential long-term credit at potentially lower costs. This fosters a more supportive environment for Nigerian businesses to thrive in the international export market.
You can see what you stand to gain by applying and using this facility, use it to your advantage and carryout your export business with ease and peace of mind.
With NEXIM's support, Nigerian businesses can take advantage of the vast opportunities available in the global market.
What Are The Services That The Nigerian Export Import Bank (NEXIM) Can Offer A Newbie Exporter In Nigeria?
The Nigerian Export-Import Bank (NEXIM) can be a valuable resource for newbie exporters in Nigeria. Here are some of the services they offer that can be particularly helpful:
Financing: NEXIM offers various financing facilities, including:
Direct Lending Facility: Provides loans in local currency for working capital or equipment needed for export production.
Foreign Input Facility: Grants credit to businesses to procure foreign inputs required for export. These facilities can help bridge the gap in funding for new exporters.
Export Financing: NEXIM offers various financing options such as pre-shipment and post-shipment financing to support exporters in the process of producing and shipping goods.
Risk Management: NEXIM offers:
Export Credit Guarantee and Insurance: Protects exporters against non-payment by foreign buyers due to political or commercial risks. This can give you peace of mind and encourage you to take on new export opportunities.
Advisory Services: NEXIM can provide guidance on various aspects of exporting, such as:
Export Advisory Services: For new exporters, NEXIM provides advisory services to guide them through the export process. This includes information on market intelligence, export documentation, export promotion, and export incentives.
Export Guarantees: The bank provides guarantees to facilitate access to credit for exporters, enabling them to obtain loans and other forms of credit from financial institutions.
Export Promotion: NEXIM supports new exporters through export promotion activities such as trade fairs, exhibitions, and workshops to showcase Nigerian products and connect exporters with potential buyers.
Export Capacity Building: NEXIM offers training and capacity building programs to equip newbie exporters with the necessary skills and knowledge to succeed in international trade.
Regulatory compliance: This can help you navigate the complexities of exporting and increase your chances of success.
Trade Information System: NEXIM maintains a database of information on potential markets, trade regulations, and other resources to help you make informed decisions.
By taking advantage of NEXIM's services, newbie exporters in Nigeria can gain valuable support and increase their chances of success in the international marketplace. These services are designed to encourage and support Nigerian businesses venturing into the export market, helping them overcome common challenges and expand their reach globally.
In our next article on this, I am going to show you step-by-step of how to operate the Export Refinancing and Rediscounting facility (RRF).
Stay with us.
Addendum:
You Need To Engage With Us To Learn More:
Our company is one of the best companies in the Agro-Export business in Nigeria today. We train individuals and corporate organizations on how to do Export Business the right way; if you are interested, please contact the admin of this forum now for further details.
