Business

FG, NBTTF Join Forces To Develop More Nigerian Youth

Published

2 years ago

January 19, 2024

Joel Ajayi

The federal government has reiterated its commitment to not leaving any stone unturned to ensure more skill acquisition initiatives are put in place for the growth and development of young people in the country.

The Minister of Youth Development, Dr Jamila Bio-Ibrahim, said this on Thursday in Abuja, when a delegation led by Mr Bob Achanya, President, of the Nigeria-Bangladesh Trade and Technology Forum NBTTF, paid her a courtesy visit.

She expressed that, the ministry will partner with NBTTF to develop the skills of the young.

According to her, We want to engage the youths so that they will not be involved in illegal activities.

“The blue economy is the priority of President Bola Tinubu and young people will be the focus/

“We will also need to engage young people, especially in the insecurity-prone areas, because they can be used for bad things but when we engage them, they will not be involved.

She disclosed that the ministry was proposing to engage the young people in the South-South geo-political zone due to the natural resources in the area.

In his early remarks the leader of the delegation of the Nigeria-Bangladesh Trade and Technology Forum, Achanya said that the visit was to increase economic relations between Nigeria and Bangladesh, adding that continuous high-level engagement by the governments and private sector would help address the issue of poverty.

Acharya said that the forum sought to progressively add value to existing and ongoing bilateral relations and leverage strategic trade and investment opportunities by match-making businesses and industrialists.

The NBTTF president added that the forum would focus on skills development to remove people from poverty, adding that the forum would host a summit where countries would display their products.

“The forum will have a three-year collaboration with the country to build the capacity of young people.

“Through strategic partnerships, we will foster growth, champion South-South cooperation and usher in an era where businesses and individuals can flourish on the global stage.”

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Business

NEXIM Bank Secures Bbb+ Rating from Agusto & Co., Declares ₦30.47 Billion Operating Profit

Published

4 days ago

October 2, 2025

The Gleamer

By Joel Ajayi

The Nigerian Export-Import Bank (NEXIM) has been assigned a Bbb+ rating by leading credit rating agency Agusto & Co. Limited, affirming its satisfactory financial condition and strong capacity to meet obligations relative to other development finance institutions (DFIs) in Nigeria.

For the year ended 2024, NEXIM Bank reported an operating profit of ₦30.47 billion, more than double the ₦13.75 billion recorded in the previous year. This remarkable growth underscores the Bank’s financial resilience and operational efficiency.

Established to promote Nigeria’s non-oil exports and support import-substituting businesses, NEXIM is fully owned by the Federal Government of Nigeria through equal shareholding by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI).

The Bank has sustained strong liquidity and capital adequacy ratios, alongside notable growth in its loan book and equity investments. Key sectors supported include manufacturing, agriculture, solid minerals, and services.

According to Managing Director, Mr. Abba Bello, NEXIM has intensified its intervention in the non-oil export sector, disbursing over ₦495 billion and facilitating the creation and sustenance of more than 36,000 direct and indirect jobs.

Among the Bank’s key initiatives are:The Regional Sealink Project: A public-private partnership designed to improve maritime logistics across West and Central Africa. Promotion of Factoring Services: Offering alternative export financing solutions for SMEs. And Joint Project Preparation Fund (JPPF): Implemented in partnership with Afreximbank to enhance the bankability of export projects.

Additionally, NEXIM is developing tailored financing schemes for the mining sector, including Contract Mining, Equipment Leasing, and Buyers’ Credit/ECA Financing, aimed at unlocking export potential and boosting foreign exchange earnings.

With its renewed drive, NEXIM Bank remains committed to building local processing capacity, advancing Nigeria’s competitiveness in global trade, and strengthening non-oil export revenues by moving up the commodity value chain.

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