Abuja: The Nigerian Export-Import Bank (NEXIM) has underscored the transformative role of the bank’s EXCEL programme in unlocking the full potentials of Nigeria’s Micro, Small, and Medium Enterprises (MSMEs). Mr. Abubakar Bello, Managing Director and Chief Executive Officer of NEXIM, made this known at the SME Export Finance Sensitisation Forum organised by NEXIM in Abuja.
According to News Agency of Nigeria, the forum was in collaboration with the Sustainable and Inclusive Economic Development for Decent Employment programme in Nigeria (SEDIN) and its implementing partner, Gesellschaft fr Internationale Zusammenarbeit (GIZ). Bello stated that the effort was part of the strategy to strengthen Nigeria’s export ecosystem, emphasizing that MSMEs are the backbone of Nigeria’s economy.
Bello highlighted that with more than 41 million MSMEs accounting for 96.9 percent of all registered businesses, they contribute 48 percent to the Gross Domestic Product (GDP) and employ 87.9 percent of the workforce. However, 55 percent of the MSMEs struggle with accessing finance, and many fail within their first five years due to structural challenges such as infrastructure deficits, high business costs, and regulatory burdens.
The EXCEL Programme, conceived in partnership with GIZ, aims to address these challenges. It is a strategic, digitally enabled initiative aimed at identifying and supporting export-ready MSME clusters across Nigeria. Through targeted training and access to tailor-made financial products, EXCEL will empower MSMEs to scale operations and compete globally.
Citing World Bank data, Bello noted that exports of goods and services currently contribute only about 7.64 percent to Nigeria’s GDP, reflecting the vast untapped potentials of the MSME export sector. To help close this gap, NEXIM Bank has introduced several export financing solutions including the SME Export Facility (SMEEF) and Women and Youth Export Facility (WAYEF). These are complemented by the bank’s NEXA digital platform, which offers MSMEs access to export services, financial management tools, and other digital resources.
Bello announced preparations to onboard SME clients onto the African Trade Gateway (ATG) to facilitate market access, streamline payment systems, and promote intra-African trade under the African Continental Free Trade Area (AfCFTA). He applauded the enduring partnership between NEXIM and GIZ, describing it as one built on shared values and a mutual commitment to inclusive growth. Key stakeholders, including the Nigerian Export Promotion Council (NEPC), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), and Abuja Enterprise Agency (AEA), were acknowledged for their strong presence and support.
Mr. Dideir Djoumessi, a representative of GIZ, commended NEXIM for its proactive role in creating opportunities for Nigerians across non-oil value chains. He announced that the forum marks the beginning of a nationwide sensitisation campaign, with upcoming sessions planned in Edo, Plateau, and Lagos States, highlighting NEXIM’s leadership and joint commitment to equipping MSMEs with necessary tools for success in export markets.
From GIZ’s perspective, supporting the EXCEL initiative aligns with its belief in the untapped potential of Nigerian MSMEs. With the right mix of finance, capacity building, and market access, MSMEs can fully leverage opportunities under the AfCFTA and other global markets. Djoumessi encouraged MSME participants to engage, ask questions, and explore how the insights shared can be applied to strengthen their businesses and clusters.