Over the past few years, the Nigerian Export-Import Bank (NEXIM) has consolidated its position as a pivotal force in Nigeria’s economic sector. Established in 1991 with a mission to bolster non-oil
exports and diversify the economy, NEXIM has made significant strides, highlighted by significant
developmental impact. Since April 2017, Mr. Abba Bello has been at the helm as Managing Director, steering NEXIM through a transformative phase. His leadership has been marked by a strategic focus
on increasing non-oil exports, driving economic growth, and enhancing the bank’s financial health.
Key Achievements Under Mr. Abba Bello: Revitalization of Operations:
Upon taking charge, Mr. Bello launched a comprehensive overhaul of NEXIM’s operations. This included a major restructuring of the bank’s loan portfolio, and significant recovery of bad debts. This strategic move revitalized the bank’s balance sheet, positioning NEXIM to better support viable export businesses.
Launch of the Export Development Fund (EDF). A standout initiative under Mr. Bello’s leadership is the
Export Development Fund. This fund provides essential financial support to the Small and Medium Enterprises (SMEs) involved in export activities. By bridging the financing gap for SMEs, the EDF helps these businesses expand their operations and enhance their contribution to Nigeria’s export
sector.
Strategic Partnerships and Collaborations
Mr. Bello has prioritized forging strategic partnerships with both local and international organizations.
These collaborations have not only provided significant export financing leverage, but also supported its capacity building initiatives in addition to the adoption of global best practices.
Promotion of Regional Trade
Under Mr. Bello, NEXIM has intensified efforts to promote regional trade
within Africa. With the advent of the African Continental Free Trade Area (AfCFTA), NEXIM has introduced specialized products and services to help Nigerian companies capitalize on new economic zones, enhancing Nigeria’s role in regional commerce.
Development of Export Infrastructure
Mr. Bello has shifted the focus from merely improving export profitability to addressing fundamental
infrastructure issues. By investing in research and development, NEXIM is tackling long-standing challenges and driving national economic development through strategic infrastructure improvements.
Capacity-Building and Export Promotion
In addition to financial support, NEXIM under Mr. Bello has invested in capacity-building programs
aimed at enhancing the skills and knowledge of Nigerian exporters. These initiatives are designed to
help exporters meet international standards and effectively penetrate global markets.
Commitment to Sustainability and Corporate Governance
Mr. Bello has placed a strong emphasis on sustainability and robust corporate governance. NEXIM has adopted policies to ensure that its financed projects are environmentally and socially sustainable. Under his leadership, the bank has also improved transparency and accountability in its operations.
Mr. Abba Bello’s transformative leadership has revitalized NEXIM Bank, reinforcing its role in Nigeria’s
economic diversification. His focus on operational efficiency, SME support, and regional trade has set the stage for NEXIM to play a crucial role in steering Nigeria’s non-oil exports and fostering sustainable economic growth.
Conclusion
Mr. Abba Bello’s leadership has revitalized the Nigerian Export Import Bank, transforming it into a key player in Nigeria’s economic diversification efforts. His focus on operational efficiency, support for
SMEs, and promotion of regional trade has yielded significant results. As Nigeria continues to seek ways to reduce its dependence on oil, NEXIM, under Mr. Bello’s stewardship, is poised to play a crucial role in driving non-oil exports and fostering sustainable economic growth.
