For decades, Nigeria tied its fortunes to crude oil.
With over ₦420 billion already flowing from NEXIM Bank into export ventures, more than 12,000 jobs have sprung to life—signalling a shift from petroleum riches to people-powered enterprise.
Financing Growth
At the centre of this shift, the Nigerian Export-Import Bank (NEXIM) has driven momentum.
The bank has already disbursed more than ₦420 billion in financing, and as a result, exporters have created over 12,000 direct jobs while generating thousands more across supply chains.
Stepping onto the stage at an APC youth forum in Abuja, Managing Director Abubakar Abba Bello urged young Nigerians to lead this transformation.
He declared, “If youths are not in the centre of production, the $1 trillion economy will be a mirage.”
With that conviction, he emphasised that NEXIM does more than lend money—it ensures exporters add value before products reach the global market.
Raising Standards
To accelerate growth, NEXIM channelled most of its support through the Export Development Fund (EDF).
The Central Bank of Nigeria allocated ₦150 billion to the EDF, and NEXIM quickly deployed ₦137 billion from it.
Consequently, exporters financed projects worth ₦420 billion across agriculture, solid minerals, and the creative industries.
Importantly, the bank structured the EDF as a revolving loan.
Once one exporter repays, another gains immediate access to funding.
Furthermore, NEXIM has expanded beyond the EDF by applying the same single-digit interest rate of 9% across its wider portfolio, making credit more affordable for businesses.
However, Bello made it clear that finance alone cannot secure Nigeria’s future.
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Therefore, NEXIM now works directly with exporters to meet international standards.
The bank enforces quality control, traceability, packaging, and sustainability so that Nigerian products remain competitive abroad.
“Exporting raw commodities is no longer a viable model,” Bello insisted.
“Global buyers demand certification, branding, and strict compliance.”
Empowering Youth
At the same time, NEXIM continues to expand opportunities for women and young people.
Through the Women and Youth Export Facility (WAYEF), the bank funds start-ups in agribusiness, digital services, and the creative economy.
Bello encouraged youth to align passion with competitiveness: “Invest where your passion lies.
Whether in agro-processing, hybrid value chains, or the creative sector, with energy and intelligence, the outcomes will be great.”
Meanwhile, to remove barriers, NEXIM restructured its collateral framework.
Instead of relying only on fixed assets, the bank now accepts export proceeds and marketable financial instruments.
By doing so, it opens doors for small businesses that previously struggled to access loans.
Finally, APC youth leader Dayo Israel framed the movement as part of the government’s deliberate economic shift.
“The transition from oil to non-oil exports is intentional,” he affirmed.
“It creates immense opportunities for jobs, and Nigerian youths stand ready to seize them under the renewed hope agenda.”
Step by step, Nigeria is rewriting its growth story.
With oil losing its dominance, a new generation of exporters is rising—ambitious, creative, and determined to place the country firmly on the global stage.
