NCDMB, NEXIM to administer US$30m Working Capital Fund for oil and gas service companies

NIGERIA – The Nigerian Content Development and Monitoring Board (NCDMB) and Nigerian Export-Import Bank (NEXIM) have signed a memorandum of understanding on the administration of US$30 million Working Capital Fund for oil and gas service companies. The Fund was conceived by the NCDMB to support the operations of local oil companies against the adverse effects of the Covid-19 Pandemic, loss of contracts due to low oil price and ensure the companies retain their personnel in employment. The Working Capital Scheme is one of the newly introduced products in the Nigerian…

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Afreximbank, NEXIM to support Niger-Benue river charting with US$750,000 grant

NIGERIA – As part of the Regional Sealink Project, the African Export-Import Bank (Afreximbank) and Nigeria Export-Import Bank (NEXIM) have announced a US$750,000 grant to support the charting of the main channel of the Niger-Benue river in Nigeria. The Regional Sealink Project aims to bridge the gap in maritime transport infrastructure and improve trade connectivity in West Africa. The Regional Sealink Project is a trade facilitation initiative designed to address the critical logistics infrastructure gap towards facilitating and deepening inland and intra-coastal waterways operations. It was adopted by the Economic…

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NEXIM launches US$26m seed fund to support women and youth exporters

NIGERIA – The Nigerian Export-Import Bank (NEXIM) has launched N10 billion (US$26.23m) seed fund to support women and youth exporters under a new programme coined Women and Youth Export Facility (WAYEF).  Managing Director of the bank, Mr. Abubakar Bello, who spoke at the launch in Abuja, described empowering women as smart business, owing to the multiplying effects of women’s businesses on their families and the larger society. Bello explained that the bank has provided enormous support for many export-oriented industries that are high employers of women and youth such as…

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Afreximbank, NEXIM partner to launch Joint Project Preparation Fund for trade sector

NIGERIA – African Export-Import Bank (Afreximbank) and Nigeria Export-Import Bank (NEXIM) have entered into a Memorandum of Understanding (MoU) to establish a Joint Project Preparation Fund. The fund will provide early project preparation financing and technical support services to public and private sector entities operating in Nigeria’s trade sector. The Joint Project Preparation Fund will support public and private sector investors by providing technical and financial support services that will result in a steady pipeline of well-structured, bankable projects that Afreximbank, NEXIM and other financial institutions can readily finance. Under…

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