Without Diversification, Nigeria Can’t Grow Economy To $1tn— NEXIM Bank MD

The Managing Director and Chief Executive Officer of the Nigerian Export-Import Bank, Abubakar Bello, has disclosed that a total sum of N 179.79bn was disbursed to Nigerian exporters in 2025.

Bello spoke at the 2025 Annual General Meeting (AGM) of the Finance Correspondents Association of Nigeria (FICAN) in Abuja, with the Theme: “Actualizing President Bola Ahmed Tinubu’s $1tn Economy Agenda.”

Represented at the event by a Senior Manager in Strategic Planning Department, Dr. Babagana Musti, the NEXIM bank boss said by empowering the Nigerian Exporter, the bank is aggressively providing targeted, low-interest funding and guarantees.

He noted that the goal was to ensure that a ‘Made in Nigeria’ label is synonymous with global quality. Adding that by de-risking the export business, the bank is ensuring that local businesses fom Small and Medium Enterprises (SMEs) to large conglomerates could compete and win in the international marketplace.

Bello said to reach a $1tn Gross Domestic Product (GDP), Nigeria must diversify.

He said, “We cannot float a trillion-dollar economy on the back of a single commodity. The cornerstone of this vision lies in the Non-Oil Export Sector. At NEXIM Bank, this isn’t just a policy statement; it is our daily mandate. We see the $1tn target as a call to arms to unlock the untapped potential in our solid minerals, agriculture, and creative industries. We are moving from a ‘resource-based’ mindset to an ‘export-led’ growth model.”

He said the NEXIM Bank is practically moving toward the $1tn milestone by ensuring that Nigeria not only participates in the African Continental Free Trade Area (AfCFTA), but also leads it.

“We are facilitating trade across borders, helping Nigerian businesses navigate new markets from Accra to Cairo, ensuring that our wealth is generated through a robust intra-African trade network,” he said.

Bello called on the journalists, especially those under the umbrella of FICAN, to build confidence required to hit that $1tn mark through their effective reportage of the sector.

“We recognise that for the public and the international community to truly appreciate the milestones on this road to $1tn, we need you. There are over 200 finance journalists and editors represented in this body—that is a massive intellectual engine.

“NEXIM Bank remains committed to an Open-Door Policy. As an official sponsor of this AGM, we are reaffirming our pledge to transparency. We want you to scrutinise our programs, share our success stories, and provide constructive feedback that keeps us on our toes.

“When you report accurately on the growth of the non-oil sector, you aren’t just filing a story; you are building the global investor confidence required to hit that $1tn mark,” he noted.