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The Delta State industrialization drive received a boost as the Federal Government through the Nigeria Export Import Bank allocated N1billion Export Development Fund for production and packaging of non-oil exportable goods in the State.
This was revealed by the Managing Director and Chief Executive Officer, NEXIM Bank, Mr. Abubakar Abba Bello when he received Board and Management Staff of the Delta State Investments Development Agency (DIDA) on a Study Tour to the Bank in Abuja.
According to him N1billion Export Development Fund was allocated to each State. He advised that States should endeavor to access it to boost local industries.
He said that NEXIM Bank outside financing non-oil Exports products, enhances value chain and provides advisory services to Large, Medium, Small and Micro Industries. “Most Small and Micro businesses think that NEXIM is not for them, but we finance, package and promote Small and Micro Businesses and currently we have a scheme for women that are into export.
Abba Bello said he was delighted that Delta State happened to be a forerunner to embark on a Study Tour of the Bank and urged them to sustain the relationship for effective investment facilitation.
He encouraged DIDA to focus on Domestic Direct Investment (DDI) in consonance with what is obtainable at NEXIM.
Responding, the Chairman Delta State Investments Development Agency (DIDA) Ogbueshi Afam Obiago who led the team of Board Members and top Management Staff of the Agency on the Study Tour said that Sen. Dr Ifeanyi Okowa’s vision of establishing DIDA to facilitate and promote investments in the State is in line with the mandate of NEXIM Bank.
According to him “the essence of the visit is to interface with Federal Government Agencies and Institutions that impact on issues of investments”. We believe that information we gather during the Study Tour will be beneficial to us in DIDA, he further stated.
Obiago said he was delighted to note that DIDA in attracting the NEXIM Bank to Delta State will boost the employment and empowerment programmes of His Excellency Dr. Ifeanyi Okowa.
On his part the Director General of DIDA Olorogun Lucky OgheneOmoru disclosed that the Government of Delta State was already in the process of creating clusters of Micro businesses. He expressed delight at the confirmation that NEXIM Bank is in a position to render financial support to them.
Present were Mr Paul Nmah, Executive Assistant to the Governor on Investments and promotions, Hon. Anthony Odaji Akpomiemie, Mr Godwin Okey Ibe, Dr Godwin Adolor, Board Members of DIDA and top management staff of the agency