The Nigerian Export-Import Bank (NEXIM) has announced an operating profit of N30.47 billion for 2024, a sharp rise from N13.75 billion in 2023, underscoring its strengthening role in Nigeria’s export finance ecosystem.
According to a statement from the bank, the performance also earned it a “Bbb+” credit rating from Agusto & Co, reflecting a strong capacity to meet obligations compared with other development finance institutions.
NEXIM, jointly owned by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated, attributed its robust showing to deeper interventions in manufacturing, agriculture, solid minerals, and services.
Managing Director, Abba Bello, said the bank had disbursed over N495 billion to businesses, helping sustain more than 36,000 jobs. Flagship programmes such as the Regional Sealink Project, Factoring Services, and the Joint Project Preparation Fund with Afreximbank also contributed to growth momentum.
Looking forward, Bello disclosed that NEXIM is designing new financing schemes for the mining sector, aimed at unlocking fresh export opportunities and boosting Nigeria’s foreign exchange earnings.
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