Nexim celebrates IWD 2025, unveils Women in Export Development Fund

In celebration of International Women’s Day, the Nigerian Export-Import Bank yesterday launched the Women in Export Development Fund, aimed at increasing the participation of women in the non-oil export sector. Speaking at the launch, the managing director and chief executive, Abubakar A. Bello, said the initiative is a show of commitment to advancing women’s empowerment […]

In celebration of International Women’s Day, the Nigerian Export-Import Bank yesterday launched the Women in Export Development Fund, aimed at increasing the participation of women in the non-oil export sector.

Speaking at the launch, the managing director and chief executive, Abubakar A. Bello, said the initiative is a show of commitment to advancing women’s empowerment and creating opportunities for economic growth, particularly in financial empowerment and entrepreneurship.

“With this initiative, we will broaden the Nigerian export basket through the empowerment of women, enhance the abilities of women players in the export value chain, promote the creation of viable and sustainable women-owned businesses.”

“The goal is to provide financing to women at various levels of the economy, with a lending rate of 9%. With this initiative, we will ensure the objectives of women’s empowerment in trade are met through financial support and collaborative efforts.”

The MD stated that women and girls play an important role in national advancement, and that attaining sustainable development requires assuring their full involvement, particularly in financial security and business.

Also speaking, the former Minister of Finance, Kemi Adeosun, emphasised the need for more financial products tailored to the needs of women, such as short-term financing instead of long-term loans.

“Financial institutions must focus on structuring loans that will ensure repayment. Many female entrepreneurs operate nano businesses and therefore do not need to apply for long-term loans with accrued interest. Rather, short-term financing opportunities will help improve the longevity of their business.”

Adeosun also spoke on the potential for Nigerian exports to grow significantly, emphasising the need for intentional efforts to increase exports and addressing the bottlenecks that hinder exporters.

“Following the governments exchange rate reforms, it is important that Nigeria be committed to increasing its export value chain and improving its processes. In Nigeria, it takes an average of two/three weeks to get registered as an exporter; however, in South Africa, it takes 48 hours. Such processes need to be worked on as we have the potential to export fashion, art, and food, which can compete globally.”

Adeosun further called on the government to secure a national export advisor whose focal responsibility will be to drive export efforts with the aim of capitalising on the new reforms.