The Nigerian Export-Import Bank (NEXIM) has declared an operating profit of N30.47 billion for 2024, more than double the N13.75 billion recorded in the previous year.
The bank also secured a Bbb+ rating from Agusto & Co., a leading credit rating agency, which said the grade reflected NEXIM’s satisfactory financial condition and strong capacity to meet obligations compared with other development finance institutions.
Managing Director of the Bank, Mr. Abba Bello, said the performance was as a result of intensified interventions in the non-oil export sector.
“We disbursed over N495 billion to support Nigerian exporters, and this has led to the creation and sustenance of more than 36,000 direct and indirect jobs,” he said.
He added that NEXIM’s loan book grew significantly in key areas such as manufacturing, agriculture, solid minerals, and services, sectors the Federal Government has identified as critical to its diversification agenda.
Bello further noted that the bank was driving initiatives such as the Regional Sealink Project, a public-private partnership aimed at improving maritime logistics across West and Central Africa.
“We are also promoting factoring services to expand export financing options for SMEs, while our Joint Project Preparation Fund with Afreximbank is enhancing the bankability of projects,” he explained.
He added that NEXIM was developing tailored financing schemes for the mining sector, including contract mining, equipment leasing, and buyers’ credit, to unlock export potential and boost foreign exchange inflows.