Friday, August 30, 2013

Nigeria: Achievements of Nexim Bank Excite Okonjo-Iweala

"... We look towards the Board members of the NEXIM Bank to really perform a very important function of ensuring that NEXIM plays the role it should within this country and beyond, and that our private sector, where we have so many talented men and women, so many entrepreneurs that would be enabled by the activities of this Bank to show what Nigeria can indeed do... " - Dr Ngozi Okonjo-Iweala

The above statement by the Minister of Finance and Coordinating Minister of the Economy no doubt is an endorsement of the efforts of the Nigerian Export Import Bank at facilitating non-oil export in Nigeria.

This convinction further found expression in the inauguration of the reconstituted Board of NEXIM Bank recently.

The Board which was reconstituted by President Goodluck Ebele Jonathan, GCFR, was inaugurated by the Coordinating Minister for the Economy (CME) and Minister of Finance, Dr Ngozi Okonjo-Iweala, with a charge to the Bank to further boost regional trade in West Africa.

Speaking at the Board inauguration in Abuja on Friday August 23, 2013, Dr Okonjo-Iweala, noted that the Jonathan Administration remains committed to the task of transforming the Nigerian economy and expanding regional trade through the incorporation of the West African economic zone and declared that NEXIM is pivotal to achieving this vision. According to her, "... NEXIM Bank is a very important part of our finance complex. This a Bank that was set up to support import and export trade within the country. We are happy to say that it's proven its worth; been performing its functions... but, there are a lot of expectations of this bank. Government of President Goodluck Ebele Jonathan has embarked on a path of transforming the economy and has been trying to work with our private sector to expand trade, particularly regional trade... and NEXIM has so far supported this vision... we can only encourage and support them to keep up their good work... "

The CME reminded the gathering that Nigeria's economy is 55 per cent of the regional economy which implies that the country's economic structures have to be well primed and poised to take charge of affairs and pull commensurate weight in the sub region. The platform for this is for the government to support the private sector to trade within the region and beyond.

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