The Nigerian Export Import Bank (NEXIM) said it would support Nigerian exporters with N18 billion in 2013 to boost the country’s export profile.

The Managing Director of the bank, Mr Roberts Orya, disclosed this in an interview in Abuja.

“We are projecting to support exporters this year to the tune of N18 billion; that is projected to generate close to 15,000 direct jobs in addition to indirect jobs that will be created.

“We hope to enhance credit insurance so that we can develop better market access for Nigerian exporters this year.”

According to him, the foreign exchange projection to generate for the economy from the present and existing funding interventions for the year will not be up to 1.6 billion dollars.

Orya said that the bank would strengthen the collaboration with other EXIM banks in the world to avail concessional long term credit as investment capital to help create jobs for Nigeria.

“We’ve been able to sign a master line of agreement with African Development Bank of 200 million dollars; we expect to draw down the first tranche of 50 million dollars in 2013.

“That will provide long-term funds at very concessionary rate to small and medium enterprises. We hope that at the end of the day, we should be able to intervene more than N18 billion because the N18 billion was exclusive of first tranche of 50 million dollars from the AfDB line.”

He noted that the bank would step up exporter enlightenment campaign to enable Nigerians understand and know the products available to tap into, adding that inter agency collaboration would be strengthened.

Orya said that the bank was able to support and assist various export oriented projects in various sub sectors of the economy in 2012.

These sectors, he said include the agro processing, manufacturing, solid minerals and services sub sectors.

“Under the services, we looked at financing, hotels for tourism, financing transportation, both air, road and sea as well as the creative and entertainment industry.

The managing director said that lack of  security from the stakeholders in the industry had hampered easy access to entertainment fund.

According to him, the bank has been able to get a report from EXIM bank of India to help to give the entertainers forbearance package.

“That type of forbearance can only be given when the federal government has been able to come out with a definite position and how people can access the fund based on various innovative products that will not necessarily tie them into some form of definite security.”

He assured that the bank would continue to find avenues to ensure that some of the regulatory challenges limiting the accessing of the fund was reduced.

Orya observed that the banks insisted on the regulatory framework because the fund was not a grant, adding that those that were able to access the fund had effectively used it to boost the sector.