NEXIM secures Bbb+ rating, doubles profit in 2024

The Nigerian Export-Import Bank (NEXIM) has secured a Bbb+ standing from Agusto & Co. Ltd., reflecting its beardown fiscal lasting and reliability among improvement concern institutions (DFIs) successful Nigeria.

In its 2024 fiscal report, NEXIM declared an operating nett of N30.47 billion, much than treble the N13.75 cardinal it recorded successful the erstwhile fiscal year, signaling improved efficiency.

Jointly owned by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI), NEXIM was created to thrust non-oil exports and enactment import-substituting enterprises successful Nigeria.

The slope reported robust liquidity and superior adequacy ratios, on with important maturation successful its indebtedness and equity concern portfolios crossed manufacturing, agriculture, coagulated minerals, and service-based industries.

NEXIM Managing Director, Mr Abba Bello, said the slope intensified enactment to non-oil exporters, disbursing much than N495 cardinal to assorted projects arsenic portion of its improvement concern interventions.

Bello noted that NEXIM’s financing efforts had created and sustained much than 36,000 nonstop and indirect jobs nationwide, contributing to economical stableness and inclusive maturation crossed aggregate sectors.

He highlighted cardinal initiatives specified arsenic the Regional Sealink Project, a public-private maritime concern designed to fortify logistics and commercialized crossed West and Central Africa done amended oversea transport networks.

“Other ongoing efforts see promoting factoring services for SMEs and a Joint Project Preparation Fund (JPPF) launched with Afreximbank to amended the viability of large-scale export-oriented projects.

“NEXIM is besides crafting specialised financing models for mining, specified arsenic Contract Mining, Equipment Leasing, and Buyers’ Credit/ECA Financing, to unlock Nigeria’s untapped mineral export opportunities.”

Bello reaffirmed the bank’s committedness to strengthening section processing capacity, expanding overseas speech earnings, and enhancing Nigeria’s planetary commercialized presumption done worth summation successful non-oil exports.

The station NEXIM secures Bbb+ rating, doubles nett successful 2024 appeared archetypal connected Vanguard News.