THE ROLE OF NEXIM IN FINANCING EXPORT TRADE2

 OVERVIEW OF NEXIM’S FUNDING INTERVENTION/OPERATION

• In furtherance of its mandate, the Bank supports activities that facilitate stimulation and development of non-traditional value-added exports as part of measures to enhance job creation and shore up the country’s foreign exchange earnings. The Bank had since inception to date disbursed aggregate credit facilities of over N60 Billion and US$273 million to over 400 beneficiary projects including 150 industrial projects. Also, the Bank has over the years purveyed funding through 52 Participating Banks.
• Based on its operational mandate, the Bank’s financial interventions to the various productive sectors of the economy from inception were variously for export facilitation and development that enhanced industrial capacity development, agro processing capacities and value added mining activities as well as technology up-gradation, among others.

Export Support Services

• Business and Financial Advisory Services: NEXIM offers export and general business advisory services to existing and potential clients of the Bank. Through this service, NEXIM sources Lines of Credit (LOC) for qualified projects in Nigeria from multilateral institutions (such as the African Export Import Bank), Export Credit Agencies and other financial institutions. It also arranges loan and/or guarantee syndications with other financial institutions for specific projects.
• Trade and Market Information: To enhance the profitability of export transactions, the Bank also provide trade and market information and advice on export import markets, products, pricing, etc. based on enquires received.

THE ROLE OF NEXIM IN FINANCING EXPORT TRADE1

The Nigerian Export-Import Bank was established as an Export Credit Agency (ECA) through Act 38 of 1991. The Bank is owned 100% by the Federal Government of Nigeria, with equal shareholding by the Central Bank of Nigeria (CBN) and Ministry of Finance Incorporated (MOFI)

The Bank’s broad mandates include the following:

• Provision of export credit in local and foreign currency.
• Provision of export credit guarantee and export credit insurance facilities.
• Establishment and management of funds connected with exports.

In addition to the aforementioned core mandate of the Bank, the following are also being undertaken:

• Export and Support Services
• Business and financial Advisory Services
• Trade and Market Information

The Bank’s funding support by way of finance and guarantee that are geared towards both import and export are from the any of the underlisted products/services:

a) Export Finance

The Bank’s key funding products for export facilitation includes the following:

•  Rediscounting & Refinancing Facility (RRF): designed to assist banks to provide pre and post-shipment finance in local currency to their export clients.
• Stocking Facility (SF): Provides financing in local currency to enable manufacturers stock seasonal inputs required to keep production at optimal levels of production throughout the year.
• Local Input Facility (LIF): Supports manufacturers of export products with medium to long term finance for the acquisition of new plants; expansion of existing capacity; and procurement of spare parts, as well as packaging raw materials amongst others.
• Direct Lending Facility (DLF): is a funding variant that allows for direct provision of short to long-term export credits to eligible exporters. The loan obligor in this case is the exporter.
• Export Credit Guarantee Facility (ECGF): For export transaction, the Bank Risk-bearing facilities are designed for the acquisition of industrial plant and machinery on deterised payment terms and the obtaining of proceeds of exports in advance by exporters such as Advance Payment Guarantee (APG)
• ECOWAS Trade Support Facility (ETSF): NEXIM has developed the
• ECOWAS Trade Support Facility (ETSF) to assist shippers take advantage of the huge potentials that exist within the ECOWAS corridor. Ultimately, ETSF will promote formal trade, economic integration and cooperation amongst countries in the ECOWAS Sub-region.

3T EXPORT TRAINING- AUGUST 2012

Job Offer: Trade Executive Assistance/Admin Officer

Main Responsibilities: 

• Attends to visitors as front desk officer and receptionist
• Manages the stock level of stationery
• Reconciles and balances the company accounts 
  
• Monitors and maintain the records of company export projects
• Source for commodity importers abroad through the internet
• Cleaning the office furniture and equipment

Knowledge:

• Sound knowledge of Microsoft Office (Word, Excel, PowerPoint and Access)
• Good understanding of the usage of Internet search Engines 
• Basic understanding of records keeping

Skills:

• Excellent team player.
• Basic management
• Ability to be flexible and work to deadlines.
• Ability to follow procedures.
• Maintain accurate records.
• IT related skills

Gender and Age: 

Female (Age- 20-25yrs)

Qualifications:

• OND (or its equivalent) in  Admin, Accounting, Business or Computer related
  
• Fluent in English language.
  

Please note that applicant's proximity to Surulere area of Lagos is a major criteria to be considered to secure the appointment.

Interested candidates should  forward their applications and CV to the info@3timpex.com on or before Friday August 3, 2012.

EXPORT TRAINING KIT

FG: We ’ll Not Scrap Export Expansion Grant

The Federal Government has dismissed rumours that it is planning to scrap the Export Expansion Grant (EEG) policy, which was introduced to enable Nigerian manufacturers compete in the export market.

Minister of Trade and Investment, Mr. Olusegun Aganga, cleared the air on the  issue during his visit to THISDAY in Lagos.

He  stated that the government was only taking steps to review the policy to ascertain its effectiveness over the years in order to fine-tune it towards greater efficiency in  the future.

“The answer is no, we are not planning to scrap the EEG, however, we are assessing and reviewing the programme to make sure that it can achieve its mandate more effectively in the future,” the minister said.

Meanwhile, the Permanent Secretary, Federal Ministry of Trade and Investment, Mr. Dauda Kigbu, stressed the  commitment of the Federal Government to provide enabling environment for investment growth in the country.

He made this known when he received investors from Qatar led by Ranjeer Menon, at the ministry’s headquarters in Abuja.

The permanent secretary said the ministry was the gateway to investment in the country stating that it was the responsibility of the Ministry of Trade and Investment to facilitate enabling environment for investors.

“We are the gateway to whatever investment you want to make anywhere in the country. It is our responsibility to ensure that we facilitate your interest in this country and link you up with relevant ministries, departments and agencies you want to deal with,” he said.

Kigbu pointed out that government would ensure that all barriers that would militate against operation of businesses were removed adding that all necessary registration of their company can be done within 48 hours in the country.

In his comments, the leader of the delegation from Qatar, Mr. Ranjeer Menon, said  they were in Nigeria to explore the huge opportunities in logistic investment in the country adding the country still remain the hub for
businesses despite the prevailing security challenges.

He urged the Ministry to make available to them merchant statistics and production of major conglomerate in Nigeria which he said will assist them to work out how to support the economy and able to build a logistics that will make the economy to grow as fast rate.

The investors are from Gulf Warehousing Company and they were interested in focusing on logistics and infrastructure in Nigeria, warehousing solutions laboratory, Special warehousing for pharmaceutical products and third party logistics.

http://www.thisdaylive.com/articles/fg-we-ll-not-scrap-export-expansion-grant/111303/

AFRICAN ART AND CRAFT SUPPLIERS NEEDED

We have buyers abroad who are in need of African Art works and Crafts. Therefore we need art and craft creators who can supply art works made from good quality materials alongside with their story lines. 

                    

For more information on how to reach us and deliver the art works, please call us on +234 803 6522 946 and/or send us an email via info@3timpex.com.