NEXIM Offers N500bn to Boost Export Businesses

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James Sowole in Akure

The Nigeria Export-Import (NEXIM) Bank has said the federal government has made available N500 billion loanable for businessmen and women who are into production of goods and services for export.

NEXIM’s Executive Director, Mrs. Stella Okotete, stated this in Akure, Ondo State during an interactive session with stakeholders, exporters and businessmen weekend.

The loan, according to the executive director, attracts a single digit interest rate of between five and nine per cent.

She therefore admonished businessmen and women in the state to take advantage of the money to boost their businesses.

Okotete said the bank, which is under a new management, had put in place a strategy to remove bottlenecks associated with previous disbursement, adding that existing or prospective exporters could apply directly to the bank for loan.

She assured businessmen that their application could be granted within 23 days if the application is backed with necessary documents.

Details later…