Why Exporters Must Leverage On FG's Financing Initiatives- NEPC

The Executive Director/CEO of Nigeria Export Promotion Council (NEPC), Dr Ezra Yakusak has reiterated the need for Nigerian exporters to leverage on the different financing initiatives of the federal government to boost their businesses.

Yakusak stated this on Thursday in Abuja during a sensitization workshop organized by the NEPC in collaboration with Zenith Bank Plc which was tagged “Increasing Access to Finance for Active Exporters,”

According to him, the aim of workshop to expose exporters to export finance opportunities which have remained untapped overtime due to the necessary awareness of it’s availability.

“We at NEPC acknowledge that access to funds is key to every successful ventures which is why the export development fund and export expansion grant are two major export initiatives by the NEPC to ensure that export promotion is expanding.

“Also, the RT200, an initiative of the Central Bank of Nigeria is geared towards boosting our active exporters and today, we have started collaborating with ambassadors of different countries for them to reel out the export potentials in their respective countries.”

He urged participants to explore the export financing opportunities that will be revealed to them during the workshop.

Also in his presentation, the Director, Product development at the NEPC, Mr Williams Ezeagu stated that access to Finance has been a great challenge for SMEs to compete, which is why the NEXIM bank and CBN has provided some funds to improve liquidity.

He, however, lamented that such funds hasn’t been accessed due to a lack of knowledge of the availability of those products.

Therefore, he urged exporters to take advantage of the workshop so they can be equipped with the necessary knowledge needed to boost export growth.

Also, the representative of the Managing Director, Zenith Bank, Mr Gabriel Egohi said the bank has been engaging with active exporters in synergy with different agencies, especially the NEPC. “Zenith Bank is here to explore opportunities in export financing to boost export. Export is today’s business and with all incentives brought about by the NEPC, CBN and other agencies, the workshop wouldn’t come at a better time than now,” Mr Egohi said.