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Bank disburses N30bn loan to non-oil sector

19 December 2013, 13:32

Abuja - The Nigeria Export-Import Bank (NEXIM) said it disbursed N30.93 billion loan and issued guarantees valued at $27.30 million between August 2009 and December 2013.

The NEXIM Managing Director, Roberts Orya, who made the disclosure in Abuja on Wednesday, said the amount was to boost the non-oil sector.

Orya spoke when members of the House of Representatives Committee on Banking and Currency visited the bank on oversight function.

He said the manufacturing sector received 13.18 billion, representing 37.6 percent; Agro-Processing, N7.42 billion, representing 21.2 percent; and Solid Minerals, N2.54 billion representing 7.2 percent.

The managing director said services sector received N11.92 billion representing 34 percent.

He said the current management of the bank on assumption of office undertook a corporate transformation exercise, which centered on the key perspectives of strategy, risk management and corporate governance.

Orya said this was aimed at liberating the bank from its myriads of challenges, reposition it for better service delivery and enhance its developmental impact on the Nigerian economy.

“The corporate transformation culminated in the redefinition of the bank's mission, vision and strategic objectives.

“This is with the intention of channelling its resources into the development of four sectors namely manufacturing, agro-processing, solid minerals and services.

“The four sectors have high amount of employment and foreign exchange earning potential in the non-oil sector,” he said.

Responding the Chairman of the committee, Jones Onyereri, commended NEXIM bank on its efforts at boosting the non-oil sector.

-    NAN

Tags nexim loans

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