AfricaBusiness & FinanceNigeria

Bauchi, NEXIM sign N1Bm MoU on exportation

By Rukayat Akanbi

Bauchi State Government and Nigerian Export and Import Bank (NEXIM) have signed a pact of N1Billion to support exportation of the state mineral resources and agricultural produce. The Governor, Bala Mohammed while signing the Mutual of Understanding with Bank on Friday, said the partnership would enable the state to exploit its enormous solid mineral resources and agro allied business.

He said: “We have a lot of industrial solid minerals ranging from zinc; platinum, litum and so on. We have developed our agric policy and our value chain. We are ready for business and we have put ourselves on the path of economic recovery.” Mohammed who was worried over dependence of his state on the Central Government monthly allocation said it was the time for Bauchi to diversify its economy to improve the Nation’s Gross Domestic Product (GDP).

MEANWHILE, the Managing Director, NEXIM, Mr. Abba Bello said: “We are supporting all the states by financing exportation of products. We are to finance with a minimum of N1Billion for any exportable commodity from Bauchi state. “We want Bauchi State to appear on the value chain of exportation. It has the right to choose any area it wishes to thrive under this programme.”

Bello urged the State to ensure inclusiveness of grassroots. According to him, the programme would be ran as the ongoing Anchor Borrower programme which is targeting farmers.

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