The Nigerian Export-Import Bank (NEXIM) has secured a Bbb+ rating from Agusto & Co. Ltd., reflecting its strong financial standing and reliability among development finance institutions (DFIs) in Nigeria.
In its 2024 financial report, NEXIM declared an operating profit of N30.47 billion, more than double the N13.75 billion it recorded in the previous financial year, signaling improved efficiency.
Jointly owned by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI), NEXIM was created to drive non-oil exports and support import-substituting enterprises in Nigeria.
The bank reported robust liquidity and capital adequacy ratios, along with significant growth in its loan and equity investment portfolios across manufacturing, agriculture, solid minerals, and service-based industries.
NEXIM Managing Director, Mr Abba Bello, said the bank intensified support to non-oil exporters, disbursing more than N495 billion to various projects as part of its development finance interventions.
Bello noted that NEXIM’s financing efforts had created and sustained more than 36,000 direct and indirect jobs nationwide, contributing to economic stability and inclusive growth across multiple sectors.
He highlighted key initiatives such as the Regional Sealink Project, a public-private maritime partnership designed to strengthen logistics and trade across West and Central Africa through better sea transport networks.
“Other ongoing efforts include promoting factoring services for SMEs and a Joint Project Preparation Fund (JPPF) launched with Afreximbank to improve the viability of large-scale export-oriented projects.
“NEXIM is also crafting specialised financing models for mining, such as Contract Mining, Equipment Leasing, and Buyers’ Credit/ECA Financing, to unlock Nigeria’s untapped mineral export opportunities.”
Bello reaffirmed the bank’s commitment to strengthening local processing capacity, increasing foreign exchange earnings, and enhancing Nigeria’s global trade position through value addition in non-oil exports.
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