ADVERTISEMENT
The Sun Nigeria
  • Home
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
  • Home
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
The Sun Nigeria
No Result
View All Result
ADVERTISEMENT
Ley Your Dreams Come Alive – With FCMB Loans
Home Business

Nigeria needs to develop its exports to international standards –Bashir Wali, Ag. MD/CEO, Nigeria Export-Import Bank (NEXIM)

16th October 2016
in Business, Business Week
0
Nigeria needs to develop its exports to international standards –Bashir Wali, Ag. MD/CEO, Nigeria Export-Import Bank (NEXIM)
0
SHARES
186
VIEWS
Share on FacebookShare on Twitter

By AYO ALONGE

The Acting MD/CEO of Nigeria Export-Import Bank (NEXIM), Bashir Wali, bares his mind on potentials in export trade, which are yet to be fully harnessed by  majority of Nigerians. In this interview, Wali also reveals some recent activities of his bank while stressing  the potentials for export trade by Nigerians.

Taking a proactive approach, how do we begin to drive the potential of non-oil export trade in the country?
It’s by taking the steps we are taking. From the government side, intervention funds are being provided, which is over 50 percent off  borrowings in the country. Facilitation and capacity building are also going on by several agencies of government. The Nigerian Export Council is also at it and even NEXIM. The organized private sector too is  doing it as well as financial institutions like Fidelity Bank, which is taking the lead in canvassing and raising  awareness generally. We are all looking at the potential in the sector and what can be done locally.

You just talked about  intervention funds. How will NEXIM, under your leadership, ensure that prospective applicants have easy access to the funds?
Go to your commercial banks, ask and they will give you the necessary guidance. These funds, especially the N500billion for the export sector, is accessible through the commercial banks.

Could you tell us about  recent activities of NEXIM?
Since this economic crisis started, what we set in place was actualized through the approval of both the funding scheme and the guidelines for both the export stimulation facility and the real discount and real facility scheme. These guidelines were finally approved in June this year and between  June and  August, we went around on an awareness drive  on capacity building in consonance with the organized private sector including  Manufacturers Association of Nigeria. We hosted two awareness programmes here in Lagos, which were sponsored by Fidelity Bank. We also had one in Kano. I have also spoken at various fora organised by several business associations like the Nigerian-American Chamber of Commerce to build up awareness and sensitize the general public on the opportunities available and the process of  enrolment for the intervention funds.

How much of the N500 billion  intervention funds has been  disbursed by NEXIM?
The process has started and I have always stated that. The CBN is working on  disbursement.

When will the funds be disbursed?
I believe that is anytime the CBN concludes arrangements on that. There is always a set time limit for it. From the moment of the submission of completed document, we have 20 working days between the time of approval and disbursement.

Don’t you think bureaucracy may limit the process?
In what respect?

In terms of the prolonged process of disbursement of funds to prospective exporters….
It takes time for the banks  in charge to build capacity. It takes time to create awareness even among the beneficiaries. In most cases, it is not like the usual proposal that can easily pass the litmus test. In terms of documentation, we have to meet the requirements and all the criteria. That is why all those who could not get the necessary guidelines have to be back-logged for the commercial banks to take the necessary steps and rectify their deficiencies. Everything has a due process especially when it comes to  processing funds.

How can people benefit from the Africa Growth and Opportunity Act?
The Africa Growth and Opportunity Act is an act of the United States Congress. It  provides opportunity for developing countries like Nigeria to take advantage of exporting goods to the United States. So far, Nigerians haven’t taken full advantage of the policy. What we’re not doing well is in the area of harnessing the opportunities and it is about how Nigerians can take advantage of  opportunities to maximize  foreign exchange earnings for the country through exports.

What are we not getting right in the area of exports  compared to what is obtainable in the rest of the world?
I think it’s for us to resolve to follow due process and not cut corners.

Could you highlight the importance of packaging for export trade?
Packaging is everything. If you don’t properly package your goods, you may not satiate  the standards of the destination countries and it could lead to rejection.

Could you please talk about transport and transit packaging as areas for  added advantage in export trade?
It’s with regards to shipping and intra-Africa trade, particularly trade within the ECOWAS sub region and Central Africa. If you take the whole of the Gulf of Guinea from the Democratic Republic of Congo down to Mauritania, the Atlantic Ocean is common to all of us. Some of the ports are deep water ports and some of them are shallow ports. If you are shipping  bulk cargo and you use a ship with a deep berth or draft, what happens to it is that it can only go to specific ports adapted for it in West Africa. If you are talking of movement of goods from port to port along the West and Central African coastal areas, then you need ships suitable for port to port movement in terms of draft of the vessel. Most of these shipping companies would come with large ships that would take goods in bulk and move them from here to their own offices or the port, put the goods in smaller vessels and resend them to Africa. For a trader moving goods from Nigeria to Gambia, it would take twice the time which reduces profitability.

Since you assumed office, what loopholes within the export system of the country have you been trying to address and which policy is of paramount importance to you?
The primary area of interest  to  us is to improve  our exports generally and to improve on our ability in working on Nigerian entrepreneurs to produce to  standards and observe quality control measures so that whatever we are doing, it meets up with international benchmarks.

sunnews

sunnews

Related Posts

We inherited  pension problems spanning 20 years  – Ejikeme, CEO, PTAD
Business

We inherited pension problems spanning 20 years – Ejikeme, CEO, PTAD

27th June 2022
Dissecting the many hazards of  dollarising Nigerian economy
Business

Dissecting the many hazards of dollarising Nigerian economy

27th June 2022
Obi Cubana slams N1bn libel suit against PM Express
Business

Obi Cubana unveiled as New Face of Global Power Bank

27th June 2022
Next Post
Why I don’t sell synthetic hair  –Chinelo Ikeme,CEO, My Hair Limited

Why I don't sell synthetic hair –Chinelo Ikeme,CEO, My Hair Limited

Nasarawa stuns Enyimba to reach Federation Cup final

Nasarawa stuns Enyimba to reach Federation Cup final

Messi scores on return

Messi scores on return

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Highlights

Popular Ekiti prophet, Olu Alo, floats football academy, urges sportspersons on hard work

BREAKING: Police arrest killers of Gulak, suspects behind bombing of Obiozor’s residence

Amb Gabriel Enemona Onoja bags Unsung Philanthropy Awards

2023: Group adopts grassroots campaign for Peter Obi

Nkechi Emmanuel aka Nurse Titi welcomes first child

NAPTIP declares ‘war’ on operators of unlicensed rehabilitation homes

Trending

death
National

Ekiti: Four to die by hanging for conspiracy, armed robbery, murder

27th June 2022
0

From Priscilla Ediare, Ado-Ekiti An Ekiti State High Court sitting in Ado- Ekiti has sentenced four persons,...

Nigerian striker, Abubakar Lawal ready to help AS Kigali win Rwandan Peace Cup

Nigerian striker, Abubakar Lawal ready to help AS Kigali win Rwandan Peace Cup

27th June 2022
Stay clear 2023 presidency if you’re above 60 – CNF tells politicians

Southern, Middle Belt leaders to engage, recommend presidential candidate for 2023 polls

27th June 2022
Popular Ekiti prophet, Olu Alo, floats football academy, urges sportspersons on hard work

Popular Ekiti prophet, Olu Alo, floats football academy, urges sportspersons on hard work

27th June 2022
BREAKING! NECO suspends nationwide examinations indefinitely over #EndSARS protests

BREAKING: Police arrest killers of Gulak, suspects behind bombing of Obiozor’s residence

27th June 2022
ADVERTISEMENT

Follow us on social media:

Latest News

  • Ekiti: Four to die by hanging for conspiracy, armed robbery, murder
  • Nigerian striker, Abubakar Lawal ready to help AS Kigali win Rwandan Peace Cup
  • Southern, Middle Belt leaders to engage, recommend presidential candidate for 2023 polls
  • Popular Ekiti prophet, Olu Alo, floats football academy, urges sportspersons on hard work
  • BREAKING: Police arrest killers of Gulak, suspects behind bombing of Obiozor’s residence
  • Amb Gabriel Enemona Onoja bags Unsung Philanthropy Awards
  • 2023: Group adopts grassroots campaign for Peter Obi
  • Nkechi Emmanuel aka Nurse Titi welcomes first child
  • NAPTIP declares ‘war’ on operators of unlicensed rehabilitation homes
  • Gombe elders, youths commend NEDC’s giant strides in North East sub-region
  • Dickson defends Ekweremadu over organ harvesting allegation
  • Uzodinma’s Political Adviser quits
  • Cross River: Fmr PDP national deputy auditor ward chairman for libel, claims N200m as damages
  • Ohaneze hails FG over appointment of new Oko Poly Registrar
  • Bring up children to shun kidnapping, armed robbery, prostitution, other social evils, Archbishop Ibezim tells women
  • CISLAC says unattended corruption in defence procurement worrisome
  • BREAKING: Buhari to swear-in Ariwoola as new CJN
  • Hajj 2022: Bagudu bids 430 pilgrims farewell, urges them to pray for Nigeria
  • We must use culture to tackle insecurity, corruption – DG Ahmadu Bello Foundation
  • Mafita commends Bauchi Gov for declaring public holiday for PVC registration

Categories

  • Abuja Metro
  • Anambra Watch
  • Arts
  • Broken Tongues
  • Business
  • Business Week
  • Cartoons
  • Citizen Joe
  • Columns
  • Cover
  • Culture
  • Duro Onabule
  • Editorial
  • Education Review
  • Effect
  • Elections
  • Entertainment
  • Events
  • Features
  • Femi Adesina
  • Food & Drinks
  • Frank Talk
  • Funke Egbemode
  • Gallery
  • Global Square by Kenneth Okonkwo
  • Health
  • Insights
  • Kalu Leadership Series
  • Kunle Solaja
  • Kunle Solaja
  • Letters
  • Lifeline
  • Lifestyle
  • Literary Review
  • Marketing Matters
  • Muiz Banire
  • National
  • News
  • Offside Musings
  • Opinion
  • oriental news
  • Politics
  • Press Release
  • PressClips
  • Public Sphere
  • Ralph Egbu
  • Shola Oshunkeye
  • Sideview
  • South-west Magazine
  • Sponsored Post
  • Sporting Sun
  • Sports
  • Sun Girl
  • Tea Time
  • The Flipside – Eric Osagie
  • The Sun Awards Live
  • The Sun TV
  • Thoughts & Talks
  • Time Out
  • Today's cover
  • Tola Adeniyi
  • Travel
  • Travel & Tourism
  • Trending
  • TSWeekend
  • Turf Game
  • Uncategorized
  • Updates
  • Views from Abroad
  • Voices
  • World
  • World News
  • Home
  • About Us
  • Paper Ad Rate
  • Online Ad Rate
  • The Team
  • Contact Us
  • Privacy Policy

© 2019 The Sun Nigeria - Managed by Netsera.

No Result
View All Result
  • Home
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun

© 2019 The Sun Nigeria - Managed by Netsera.

Posting....