Business

FG Drives Financial Innovation to Empower Nigerian Youth

Published

2 months ago

August 21, 2025

Joel Ajayi

The Honourable Minister of Youth Development, Comrade Ayodele Olawande, has reaffirmed the Federal Government’s commitment to practical and innovative solutions that deliver real impact in the lives of young Nigerians.

Speaking at the signing ceremony of a Memorandum of Understanding (MoU) with the Securities and Exchange Commission (SEC), led by its Director-General, Dr. Emomotimi Agama, the Minister emphasized that lasting legacies are built through action and collaboration, not bureaucracy.

“This initiative is about breaking barriers and opening doors,” Olawande said. “For too long, the capital market has been seen as a space reserved for the wealthy. Today, we are saying clearly that Nigerian youth deserve access too. We want to empower them not just to seek jobs, but to create them, to become entrepreneurs, investors, and employers of labour.”

He highlighted the Nigerian Youth Academy (NIYA) as a central pillar of this vision, designed to provide accessible financial education and practical skills to young people across the country, regardless of background or location. The Minister also stressed the importance of strong collaboration between government and private sector partners to ensure no youth is left behind:

“Our goal is to raise a generation of financially savvy, empowered young Nigerians who will shape the future prosperity of this nation. With partners like the SEC, we are proving that it is possible.”

Comrade Olawande expressed appreciation to the SEC for its leadership and urged other stakeholders to join in building pathways of opportunity for Nigerian youth:

“This is about the future of our country. Together, we can ensure that every young Nigerian has the tools, knowledge, and opportunities to thrive.”

In his remarks, Dr. Emomotimi Agama, Director-General of the SEC, highlighted the importance of empowering youth through strategic partnerships and financial innovation. He commended the Honourable Minister for his youthful, relatable, and action-oriented leadership, noting his ability to break bureaucratic barriers and implement impactful solutions.

Dr. Agama reaffirmed the SEC’s commitment to working with the Ministry to provide access to funding, financial education, and investment opportunities.

He described the partnership as the start of a meaningful legacy, with programs designed to empower young Nigerians from all backgrounds, ensuring sustainable socio-economic impact and long-term national prosperity.

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Business

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

Published

3 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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