|
Getting your Trinity Audio player ready...
|
Fidelity Bank is collaborating with the Nigerian Export Promotion Council, NEPC to promote non-oil export business through training and capacity building for aspiring exporters.
The training, which is sponsored by Fidelity Bank, is designed to develop the capacity of would-be exporters with adequate knowledge about production, value addition, marketing and exportation.
Speaking at Zero 2 Export launch and press briefing in Lagos, Nnamdi Okonkwo, Managing Director of Fidelity Bank expressed optimism in the capacity of the programme to lift Nigeria out of the present economic crisis.
“This programme is one of the important steps that should help us a people and country to come out of the quagmire we have found ourselves in.
“What we are doing is capacity development so that people will learn from the mistakes of others and do this export properly to earn international respectability.”
He also disclosed that the bank is offering a single digit interest rate of 6 percent for facilities that are above three years while those facilities below three years will be granted loans at 7.5 percent interest rate.
While reiterating the bank’s commitment to economic growth, Okonkwo identified lack of record keeping as one big challenge when it comes to accessing loans.
“We are not stopping here; we are collaborating with Lagos Business School to run programmes on export management and Export Leadership institute. For us, banking has gone beyond bring money or take loans. We must participate in the value chain.
“Most businesses are not packaged to be financing ready. Some people cannot produce their record of sales in the last six months. How am I supposed to measure your capacity to repay me?” he said.
While commending Fidelity Bank for the opportunity to develop new crops of exporters, Segun Awolowo, Chief Executive Officer of NEPC said non-oil exports is the only mechanism by which we can grow the economy and challenged every state to identify one product they can use for export.
“Mexico was where Nigeria is now some 30 years ago, they diversified their economy. Today, Mexico is has moved from oil exportation to agro-business. Mexico ia doing $398bn in non-oil exports.
“Our economy is already diversified but the problem is that we are not producing. The future of our country is on how we can earn foreign exchange for the country. Let us make Nigeria an exporting nation,”Awolowo said.
Kola Awe, Consultant, Zero 2 Export said, “We have four batches and they were trained for agro-commodities. Batch two has done a cumulative export of about $225,000 while Batch one with six active members did an export of about $50,000. The commodities they have exported are Hibiscus flower to Mexico and Tiger nuts to Dubai,” he said.
