The Nigerian Export-Import Bank (NEXIM) has received a Bbb+ rating from Agusto & Co. Ltd., underscoring its strong financial health and credibility among Nigeria’s development finance institutions.
According to its 2024 financial report, the bank posted an operating profit of N30.47 billion, more than double the N13.75 billion recorded in 2023, reflecting improved efficiency and growth.
Jointly owned by the Central Bank of Nigeria and the Ministry of Finance Incorporated, NEXIM was established to promote non-oil exports and support import-substituting enterprises.
The bank reported significant growth in its loan and equity investment portfolios, covering manufacturing, agriculture, solid minerals and service industries, with strong liquidity and capital adequacy ratios.
Managing Director, Mr Abba Bello, said NEXIM disbursed over N495 billion to non-oil export projects, creating and sustaining more than 36,000 jobs nationwide. “Our interventions are contributing to economic stability and inclusive growth across multiple sectors,” he noted.
He highlighted the Regional Sealink Project, a maritime partnership aimed at improving trade logistics across West and Central Africa, as well as factoring services for SMEs and a Joint Project Preparation Fund launched with Afreximbank.
On mining, Bello said the bank was designing tailored financing models, including Contract Mining, Equipment Leasing and Buyers’ Credit, to unlock Nigeria’s mineral export potential.
He reaffirmed NEXIM’s commitment to boosting local processing capacity, strengthening foreign exchange earnings and enhancing Nigeria’s position in global trade through value-added non-oil exports.
(NAN)