Nexim Pledges Support to Miners
- By Simeon Ogoegbulem
- Published March 28th, 2011
- News
- Unrated
The Nigerian Export Import Bank (Nexim) has assured members of the Miners Association of Nigeria of its readiness to assist them in realizing the economic diversification programme of government. To this end, Nexim said it is ready to increase its funding to the miners up to N9 billion within the next four years.
Mr. Roberts Orya, managing director of Nexim, who gave the assurance while receiving members of the association who paid him a visit in Abuja, assured the miners that the bank has key interest in the solid minerals sector as the sector has great export and job creation potentials.
Orya stated that the huge potentials of the sector informed its selection as a critical component of the manufacturing, agriculture, solid minerals and services (Mass) agenda of the bank.
He noted that “the solid minerals sector is part of the targeted economic development initiatives of the bank under real sector financing of the Central Bank of Nigeria (CBN). He further stated that the bank is poised to significantly contribute towards creating an internationally competitive and attractive destination for capital for the profitable exploitation of the nation’s mineral resources.
Orya used the forum to clearly delineate the bank’s penetration strategy for solid minerals and reiterated the readiness to provide the necessary assistance to identify capable indigenous or foreign mining companies to partner in mining activities.
He intimated the miners that the products and services available to customers and prospective clients of the bank direct lending, project finance facilities as well as research and advisory services.
Orya stated that the bank is ready to provide access to credit facilities; flexibility in service and processes; access to leading industry/technical knowledge and availability of modern mining equipment/machines. According to him, Nexim will provide affordable credit facilities; collaborate on technical assistance and leading industry practices; access to the international market; and improved linkage with other economic sub-sectors.
Earlier, Alhaji Sani Shenu, President of the Miners pleaded with the bank to extend line of credit to its members. Sani noted that finance is the greatest challenge militating against the full realization of the potentials of the sector, noting that equipment needed for optimal performance in the sector is cost intensive.
Mr. Roberts Orya, managing director of Nexim, who gave the assurance while receiving members of the association who paid him a visit in Abuja, assured the miners that the bank has key interest in the solid minerals sector as the sector has great export and job creation potentials.
Orya stated that the huge potentials of the sector informed its selection as a critical component of the manufacturing, agriculture, solid minerals and services (Mass) agenda of the bank.
He noted that “the solid minerals sector is part of the targeted economic development initiatives of the bank under real sector financing of the Central Bank of Nigeria (CBN). He further stated that the bank is poised to significantly contribute towards creating an internationally competitive and attractive destination for capital for the profitable exploitation of the nation’s mineral resources.
Orya used the forum to clearly delineate the bank’s penetration strategy for solid minerals and reiterated the readiness to provide the necessary assistance to identify capable indigenous or foreign mining companies to partner in mining activities.
He intimated the miners that the products and services available to customers and prospective clients of the bank direct lending, project finance facilities as well as research and advisory services.
Orya stated that the bank is ready to provide access to credit facilities; flexibility in service and processes; access to leading industry/technical knowledge and availability of modern mining equipment/machines. According to him, Nexim will provide affordable credit facilities; collaborate on technical assistance and leading industry practices; access to the international market; and improved linkage with other economic sub-sectors.
Earlier, Alhaji Sani Shenu, President of the Miners pleaded with the bank to extend line of credit to its members. Sani noted that finance is the greatest challenge militating against the full realization of the potentials of the sector, noting that equipment needed for optimal performance in the sector is cost intensive.
