In order to strengthen the capacity of five million Small and Medium Enterprises (SMEs) exporters in the non-oil sector, the Nigerian Export-Import Bank (NEXIM) and Fidelity Bank are working together.
According to NEXIM, the action is consistent with the Federal Government’s overarching goal of boosting export diversification efforts.
Abba Bello, the managing director of the NEXIM Bank, made this announcement yesterday in Abuja at the signing of a Memorandum of Understanding (MoU) with Fidelity Bank. He said NEXIM had previously created an online platform called the Nigerian Export Academy (NEXA) that provides free courses to exporters and SMEs, but is now inviting partners with a similar strategic focus to join the initiative by sponsoring courses and bringing more beneficiaries on the platform for increased effectiveness.
He added that in order to fulfill its duty as an export development bank of Nigeria to facilitate commerce, it used to conduct quarterly exporter enlightenment programs throughout the nation, but these efforts did not produce the desired results.
“We found out that because of the situation, we found ourselves as a country and the need to diversify quickly, these export enlightenment programmes were not efficient. So, in our engagement with our partners and other strategic partners like Sapphital Academy, we thought of better ways in which we can reach out to all stakeholders of exporters and those involved in the export value chain.”
“We then came up with the idea that since everybody has a phone or other technological devices they can use, why don’t we adopt an online training portal as well as a capacity-building portal to train SMEs and exporters on the new processes that can enhance their export business? That was how NEXA was birthed,” he stated.
The head of the NEXIM bank disclosed that NEXA acts as a forum where exporters can interact and share ideas on innovations and needs of the global market to increase Nigeria’s exports.
Bello asserted that working with strategic partners and their clients, who desire up-to-date information on processes and procedures in the export trade, is gratifying when working with Fidelity Bank.
He also stated: “We all know that Fidelity Bank has had a lot of engagement themselves in trying to bring up awareness and build capacity for exporters both local and international. Given your engagement and involvement with NEXIM Bank, it is no surprise that you are the first strategic partner of NEXA.”
Bello stated that the platform, which was created in 2021 as a result of the effects of COVID-19, has had over 4,400 participants and another 500 people receive various sorts of training and enlightenment on it, and that 500 certificates have already been given to learners.
He did acknowledge that the project is still in the build-up phase and has not yet arrived at its target. Nneka Onyeali-Ikpe, the managing director and chief executive officer of Fidelity Bank, pleaded with Nigerian exporters to rigorously follow the guidelines for using certified fertilizers for their produce.
Because of the great quality of their products, Shea butter producers are already making waves around the world, according to Mrs. Onyeali-Ikpe, who also disclosed that discussions about the standard and packaging are currently taking place with major retailers like Tesco and Saintsbury.
“Another big break now is by bean exporters who are not able to play on the global stage. They have met the required standards which have opened the door of opportunities for them to export on a large scale across Europe,” he concluded.
