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Dbn Ready With N169bn To Support Smes As Nepc Grooms Niger Delta Small Exporters

Nigeria Student Forum / General Discussion / Dbn Ready With N169bn To Support Smes As Nepc Grooms Niger Delta Small Exporters

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Sani Ibrahim
Abubakar Tafawa Balewa,University
Agricultural economics and extension
100Level, Nigeria.
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.. Financing is biggest obstacle to export business
The Development Bank of Nigeria (DBN) says it has N169Bn
ready to fund small and medium scale enterprises (SMEs)
especially those eager to go into export. This as the Nigerian
Export Promotion Council (NEPC) has brought small exporters
in the South-South to train on how to access the funds.
The head of sustainability department of the bank, Lolade
Awogbade, who spoke in Port Harcourt Wednesday afternoon
said the bank has already disbursed N151Bn to over 100,000
SMEs in its first three years of operations, saying the DBN
operates like the Bank of Industry (BoI) but with focus on
SMEs.
She said its 21 partner banks disburse the loans on its behalf
while the DBN concentrates in training and leading the SMEs
to do more. She said the DBN does not however fix the
interest rates nor direct the commercial banks on who to give
apart broad guidelines of making sure the loans go to SMEs
and women.
In his opening remarks, the south-south zonal coordinator of
NEPC, Joe Itah, export financing is one of the bedrocks in the
value-chain to successful export business. He said this
informed the choice of the theme: Building Sustainable
MSMEs: A Case of Financial Inclusiveness”.
Itah went on: “Let me count every exporter here present as
being lucky because the challenges surrounding financing in
exports could be quite daunting and frustrating especially
when you are either a beginner or one that does not have
requisite knowledge on what is essential to package a must-
attend-to financial request by banks.
“The problem of access to finance is well-known, even as
solutions have been building in recent times – through micro-
credit, micro-financing, and lately financial inclusion. But of all
these, financial inclusion is attracting greater attention
because of its tendency to build financial sectors that can
serve exporters who currently have no access to formal
relevant financial services or do not know how to get them,
hence the decision of NEPC to host the seminar.
“I am sure that today we would satisfy our curiosity as we
ponder questions related to financial inclusion, such as: What
are the available financial facilities for MSME exporters? What
are the barriers to benefitting from financial services? What
other services need to be developed to enhance SME
exporters’ performance? How can the provision of financial
services be improved to boost export business? Who is best
equipped to deliver large scale quality financial services to
customers in real want?
“Permit me to stress that this forum could proffer how
companies can manage financial vulnerabilities through sound
monetary advices including best choices in international trade
payments, to taking advantage of entrepreneurial opportunities
through securement of capital loans, to safe receipts of
remittances after successful export transaction, among
others.”
Speaking, the executive director of NEPC, Olusegun Awolowo,
regretted that Nigeria could be so endowed and yet the
citizens are in poverty. “This is more worrisome based on facts
backed by statistics that only few countries of the world can
match our country’s endowment in the area of natural
resources and human talents.
“The country has abundant opportunities in the non-oil export
which include: agricultural commodities, sei-processed
products, fully manufactured products, arts and handicrafts,
services and solid minerals, most of which are yet to be fully
harnessed. It is in realization of these huge potentials, coupled
with observed lack of awareness of these opportunities that
events of this nature are packaged to enlighten participants
towards attaining success in non-oil export business.
“It becomes imperative therefore, that policy makers,
institutions, businesses and leaders of thoughts should identify
and implement strategies and policies that leverage
technology, foster favourable business environments and
establish supportive financial frameworks and increase the
competitiveness of Small and Medium Enterprises in Nigeria.”
In an interview, the deputy director, Export Development &
Incentives, Esther Ikporah, said time has come for non-oil
sector to rise to the task of being the export driver.
She said many Nigerians have embraced the drive for export
and were registering in many locations including the oil region.
She said financiers have therefore been brought in at this point
to remove one of the obstacles in export business.

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