Executive Director, Business Development, Nigeria Export-Import Bank, Stella Okotete; Managing Director, NEXIM, Abba Bello; former Minister of Finance, Kemi Adeosun; and Executive Director, Corporate Services, Ibrahim Gaga at the NEXIM International Women’s Day 2025 Conference held at Abuja Continental Hotel on Tuesda
In celebration of International Women’s Day, the Nigerian Export-Import Bank (NEXIM Bank) launched the Women in Export Development Funds (WEDF), a pioneering initiative aimed at enhancing women’s participation in the non-oil export sector.
The event, attended by prominent figures including former Minister of Finance Kemi Adeosun, former Chairwoman of Access Bank PLC Dere Awosika, NEXIM Bank Managing Director Abba Bello, and Executive Director Stella Okotete, emphasised the importance of empowering women in business.
Bello stressed the importance of women in national development: “Women and girls are at the heart of national development. When we empower women, we empower families, communities, and entire economies.”
He noted that NEXIM Bank has developed products like WAYEF and SMEEF to support women in SMEs and non-oil exports.
Abba stated that this year’s theme, “For All Women and Girls: Rights. Equality. Empowerment #Accelerate Action”, is a call towards empowering women and addressing gender disparities with a focus on strategies, resources, and activities that positively impact women’s advancement.
“Today’s occasion is in commemoration of this auspicious month and a display of NEXIM Bank’s commitment to advancing women’s empowerment and emphasising women’s achievements, challenges, and also to foster dialogue, share insights, and promote actionable strategies for women’s empowerment.
“Women and girls are at the heart of national development. When we empower women, we empower families, communities, and entire economies.”
He added that Nigeria, with its vast human and material resources, can only achieve sustainable development when women are included in all aspects of economic growth, particularly in financial empowerment and entrepreneurship.
“In recognition of this and in fulfilment of its mandate, NEXIM Bank has developed a number of products specifically targeting women, which include the Women and Youth Export Fund (WAYEF), the Small and Medium Enterprises Export Fund (SMEEF), and the Women in Oil and Gas Managed Funds.
“These products and services impact positively on women playing in the SMEs and the non-oil export value chain, providing them with affordable credit financing under acceptable terms and conditions.”
Adeosun called for the appointment of a National Export Adviser to drive export reforms and increase Nigeria’s export-to-GDP ratio, which currently stands at 9.2% compared to other African countries like Ghana and South Africa.
She highlighted the need for streamlined processes, noting that registering as an exporter in Nigeria takes weeks, whereas it takes only 48 hours in South Africa.
“I urge our President to name a National Export Adviser. We need a figurehead that will drive reforms and break down all barriers to exports so that our world-class goods can get to the global market.
“There’s been a lot of narrative around Nigeria. The narrative used to be Nigeria imports too much, but that is not true. The statistics do not support that at all. The statistics do say that Nigeria exports too little. So, if you look at Nigeria’s export-to-GDP ratio, it is 9.2%. That was the last statistic; that was before the rebasement.
“So, when the rebasement figures are in, that signal will go down. Nigeria’s export-to-GDP, please remember these numbers: 9.2%, Ghana 34%, South Africa 32.8%, Senegal 23%. So, what we are saying is, not so much effort on reducing our imports, we need to focus on increasing our exports,” she said.
Adeosun noted that Nigeria’s export-to-GDP ratio stood at 9.2 per cent, compared to other African countries, adding that Nigeria did not need to reduce its imports into the country, but rather increase its exports.
“I urge our President to name a National Export Adviser. We need a figurehead that will drive reforms and break down all barriers to exports so that our world-class goods can get to the global market.
“There’s been a lot of narrative around Nigeria. The narrative used to be Nigeria imports too much, but that is not true. The statistics do not support that at all. The statistics do say that Nigeria exports too little. So, if you look at Nigeria’s export-to-GDP ratio, it is 9.2%. That was the last statistic; that was before the rebasement.
“So, when the rebasement figures are in, that signal will go down. Nigeria’s export-to-GDP, please remember these numbers: 9.2%, Ghana 34%, South Africa 32.8%, Senegal 23%. So, what we are saying is, not so much effort on reducing our imports, we need to focus on increasing our exports,” she said.
The Executive Director, Corporate Services, Mr Ibrahim Gaga, reaffirmed the bank’s commitment to supporting women and girls in achieving their business dreams.
From Juliana Taiwo-Obalonye,
