Finance

Nigeria provides 30% return on investment – NEXIM

Nigeria provides 30% return on investment – NEXIM

The Nigeria Export-Import Bank has disclosed that investors in Nigeria earn about 30 per cent return on their investments.

The Executive Director of Business Development, NEXIM, Stella Okotete, disclosed this while playing host to the Mexican Ambassador to Nigeria, Alfredo Miranda, who led a delegation on a courtesy call to the management of the bank in Abuja.

She called for a partnership between the country and Mexico with a view to expanding access to Nigerian goods to the Mexican market.

According to the NEXIM boss, collaboration with Mexico would boost the country’s foreign exchange earnings, attract investment opportunities and ultimately promote prosperity for citizens of both nations.

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Okotete, who used the opportunity to showcase Nigerian-made export goods financed by the bank, highlighted other investment opportunities available in Nigeria, according to a statement issued by the bank in Abuja on Sunday.

“I should once again assure you that with Nigeria, as a country and with a very large opportunity in export, especially the non-oil export sector, you have 100 per cent access to your foreign exchange for repatriation and you have a very huge ROI (return on investment) on your investment.

“We are talking about in some cases 30 per cent, between seven to 30 per cent; you won’t get it anywhere but in Nigeria. So, in terms of return, on investments, this is the best place you can invest,” she stated.

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According to Okotete, it is clear that Mexico has a huge advantage in mining; Nigeria is an untapped mining destination.

“So if you have businesses that would want to partner with Nigeria to develop the mining sector for export, Nigeria Export-Import Bank will be willing to work with you and support that aspect to grow the sector,” she asserted.

The bank said the visit by the Mexican delegation was to deepen trade relationships, foster economic growth and explore mutually beneficial investment opportunities, as it marked a significant step towards fostering strong ties between the two nations.

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In his response, Miranda highlighted the potential for increased economic and bilateral cooperation between Mexico and Nigeria.

The ambassador took note of the various initiatives undertaken by the bank to promote non-oil exports for sustainable economic growth.

He pointed out that Mexico was a $1.4tn economy, which Nigerian businesses and exporters could greatly benefit from.

He stressed the need to identify business opportunities in Nigeria and Mexico, which could be leveraged to enhance trade, investments and attract financing for the development of both countries through their trade policies.

Punch

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