NEXIM Bank and SMEDAN Forge Strategic Alliance to Boost SME Export and Global Competitiveness
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In a major step toward strengthening Nigeria’s non-oil export sector and empowering small businesses, the Nigerian Export-Import Bank (NEXIM) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a landmark Memorandum of Understanding (MoU) to accelerate the growth and global reach of Small and Medium Enterprises (SMEs) across the country.
The strategic partnership aims to provide export financing, tailored financial solutions, capacity-building programs, and access to international markets—particularly under the African Continental Free Trade Agreement (AfCFTA).
Speaking at the signing ceremony, NEXIM Bank Managing Director/CEO, Abba Bello, described the collaboration as a “critical step in equipping Nigerian SMEs for global competitiveness.”
“By combining our financial instruments with SMEDAN’s development expertise, we are creating a comprehensive support system that empowers SMEs to thrive in the export space,” he stated.
Echoing this sentiment, SMEDAN Director-General, Charles Odii, emphasized that the partnership will eliminate key barriers that have long hindered SMEs from entering international markets.
“Our goal is to ensure that Nigerian SMEs are not only equipped with the right skills but also have access to the financial support needed to scale globally,” he said.
Key Focus Areas of the MoU Include:
- Export-focused financing solutions tailored for SMEs
- Training and advisory services to boost international competitiveness
- Streamlined export procedures to simplify MSME participation in global trade
This partnership supports the federal government’s broader goals of economic diversification, inclusive growth, and sustainable development through public-private collaboration.
NEXIM Bank, established under Act 38 of 1991, is Nigeria’s Export Credit Agency, responsible for promoting non-oil exports through financing, risk management, and advisory services. SMEDAN, created by the SMIDA Act of 2003, is the government’s key agency for driving the growth and sustainability of MSMEs in Nigeria.
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