The Nigerian Export-Import Bank and the Katsina State Government have agreed to boost the export of Sesame seed and other agricultural products in the state.
The bank is expected to sign a Memorandum of Understanding with the state government and set up an implementation committee to drive the project.
The move is part of the bank’s nationwide export diversification campaign aimed at boosting the exports of non-oil products as a major revenue earner for the country.
The Managing Director, NEXIM, Mr Abba Bello, said these during a meeting with the Governor of Katsina State, Aminu Masari.
The meeting was called to discuss opportunities in the state in order to develop exportable agricultural products. Bello informed the governor that a N1bn Export Development Fund had been set aside to support the export value chain in the 36 states of the federation and the Federal Capital Territory.
He stated that the scheme in line with the ‘One state, one product project’ was aimed at customising products in the state and to assist exporters.
He said exporters could access the facility at a single-digit interest rate.
The NEXIM bank MD explained that the funding of the product was part of the bank’s drive to promote the Federal Government’s agenda of economic diversification as contained in the Economic Recovery and Growth Plan.
(Punch)
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