The Nigerian Export-Import Bank (NEXIM) has announced that it is launching a N10 billion export facility for catering to women and youth to enable them take advantage of international trade opportunities.
This was disclosed by Stella Okotete, Executive Director, Business Development of NEXIM, at the presentation of the Women And Youth Export Facility (WAYEF) by the bank in Abuja.
She added that the WAYEF scheme was launched by the bank to improve the roles played by women and youth in Nigeria’s international trade, and boost export trade participation for the demography, citing that the interest rate under the facility would reduce to 5% by 2022 from the present 9%.
“So, there’s no better time than now to avail yourself to tap into these products… if you can actually become an aggregator, you can increase your export quantity and employ more women and young people in Nigeria to play in the export value chain,” she added.
Mr Abba Bello, the Managing Director of the bank said:
The bank has provided normal support for many export-oriented industries that are employers of women and youth.
We however seek to do more by supporting women and youth-owned businesses operating in the various aspects of the export value chain.
This initiative speaks to the new concept of analytical international trade, and boost export trade participation for the demography, citing that the interest rate under the facility would reduce to 5% by 2022 from the present 9%.