NEXIM Bank to Raise N37 Billion  for Agriculture

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Enterprise Television – NEXIM Bank to Raise N37 Billion  for Agriculture

In order to boost exportation of agricultural products, the Nigeria Export-Import Bank (NEXIM) has disclosed its intention to raise N37 billion for Nigeria’s 36 states and the Federal Capital Territory (FCT).

The Bank’s Managing Director, Abubakar Bello who made the disclosure, said the fund is to encourage the development of agriculture.

According to Bello, each state and the FCT will get a N1 billion each. He said the money would be disbursed as credit facility at a single-digit interest rate, with the amount to be increased when the need arises.

Bello added that the fund would be used to develop and support one or two export commodities from primary production to the export stage.