NEPC seeks increased financing for exports

GodGift Ifunanya
3 Min Read

The Nigerian Export Promotion Council (NEPC) has urged financial institutions to support export activities to boost the economy and create more jobs in Imo.

NEPC’s Chief Executive Officer, Mrs Nonye Ayeni, said this at a one day export financing technical round table organised by the council in collaboration with the Guaranty Trust Bank (GTB) in Owerri, on Saturday.

Ayeni, represented by Mr Anthony Ajuruchi, the NEPC Trade Promotion Advisor in Imo, said it was necessary for Nigerians to grow local products for foreign consumption in view of current global economic conditions.

He noted that it would be difficult for those interested in joining the export business in the light of current economic challenges, to achieve successful setups without financial assistance.

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Ayeni called on the GTB and other financial institutions to provide accessible modalities for ease of doing business which Nigerians could easily key into.

He assured exporters of funding plans by export funding partners and urged them to double their efforts in 2024 in line with the NEPC’s new mantra, “Double our Export for Economic Growth and Job Creation”.

 “Our exporters are ready; all we ever ask is that they be given the opportunity for growth through holistic support.

 “As a nation, we must grow our non oil exports to enable us reduce dependence on petroleum and overcome current global economic challenges he said,” he said.

Also speaking, GTB’s representative at the event, Mr Chinonso Ngana, lamented the inability of borrowers to repay loans within the agreed time as an impediment to export financing.

Contributing, the Chairman, Imo Exporters’ League, Eze George Eke, urged export financing partners to prioritise farmers and exporters from the scratch rather than wait for them to attain a high level in their businesses before expressing interest in financing them.

Miss Ngozi Okechukwu, the Managing Director, Array Ventures, a consultancy firm, advised manufacturers and exporters to embrace cooperative efforts.

This, she said, would avail them the opportunity to benefit from financing made available by export funding partners for local production of exportable products.

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