Business
NEXIN Partners US On Agriculture
The Nigerian Export-Import Bank (NEXIM) says it is partnering with the United States EXIM bank to boost the development of agriculture in the country.
Mr Roberts Orya, NEXIM’s Managing Director, said this in an interview with newsmen at the end of a closed-door meeting with the US EXIM delegation in Abuja.
Orya said that the partnership, which commenced immediately, would explore other sectors of the economy to enhance the development of the country.
“ The officials from US EXIM bank have seen that Nigeria has a lot of potentials; they have done a couple of things with some African countries that has less potentials than we have and they felt that they are missing something somewhere and they needed to come over to Nigeria and see how they can work with the relevant stakeholders, especially the NEXIM bank and how we can commence a relationship and rapidly deepening that relationship.
“We have been discussing with specific reference to some sectors. The one that concern NEXIM is that of Agriculture and then the Clean Development Mechanism project (CDM).’’
According to him, other areas of interest to the US EXIM bank is power generation.
He said that the meeting with the US export bank offficials centred on specific projects to enable it achieved the needed impact.
“ What we have done is , we said, why don’t we focus on the ones in agriculture because they don’t want to go into a green field project now.
“They want to finance a project that is already on ground so that the effect will be felt immediately.’’
Orya said that the partnership had started on Oct 18, adding that NEXIM would send relevant applications for them to look at it from their own end.
The report says that the US Exim bank on Wednesday in Abuja signed a Memorandum of Understanding on how to boost power generation in the country.