The Nigerian Export-Import Bank (NEXIM) has secured a Bbb+ rating from Agusto & Co. Ltd., a move that underscores its solid financial standing and strengthens its credibility among development finance institutions.
In its 2024 financials, the bank reported an operating profit of ₦30.47 billion, more than double the ₦13.75 billion recorded in 2023. The performance reflects improved efficiency, stronger loan recovery, and sustained support for non-oil exports.
Jointly owned by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI), NEXIM has continued to expand its loan and equity investments across manufacturing, agriculture, solid minerals, and services. Its balance sheet showed robust liquidity and capital adequacy ratios, highlighting its resilience in a volatile economic environment.
Managing Director, Abba Bello, said the bank disbursed over ₦495 billion in development finance interventions during the year, enabling projects that created and sustained more than 36,000 direct and indirect jobs nationwide. He noted that NEXIM’s strategy remains anchored on deepening support for non-oil exporters, boosting local processing capacity, and expanding Nigeria’s footprint in regional and global trade.
He highlighted ongoing projects such as the Regional Sealink initiative, which aims to improve maritime logistics across West and Central Africa, as well as collaborations with Afreximbank to prepare large-scale export ventures for financing. The bank is also designing tailored financing models for the mining sector, including equipment leasing and buyer’s credit structures, to unlock Nigeria’s solid mineral potential.
Bello reaffirmed that NEXIM’s priority is to build stronger non-oil value chains, increase foreign exchange earnings, and reinforce Nigeria’s competitiveness in the global marketplace.
