Country trade data

• Covers exported eligible goods wholly or partially manufactured in Nigeria, as well as services
• Pre and post-shipment insurance available
• Tenor: Up to 180 days for pre and post-shipment guarantees
• Sub-products:
• Export credit insurance facility: Insures exporters from commercial and political risks associated with exports
• Export credit guarantee facility: Protects Nigerian Banks against the risk of non-payment for loans or advances granted to exporters to meet short-term export contracts
• Rediscounting and refinancing facility: Assists banks in providing short-term finance in support of exports; 9% all-in interest rate
• Cover: 75% pre-shipment, 85% post-shipment
• Fees:
• Premium: Up to 2% per annum on facility amount
• Management fee: Up to 1% per annum on facility amount
• Security: 150% of guaranteed amount, including assets covered by the guarantee

• Loans to Nigerian exporters to purchase capital goods, raw materials, packaging materials, and spare parts; also available for exporters of services
• Tenor:
• Short-term facilities: Up to 365 days
• Project-related financing: Up to 3 years
• Nigerian Creative and Entertainment Industry Loan Scheme: Up to 7 years
• Security: Company assets and potentially a bank guarantee
• Interest rate: Fixed or variable rate loans available
• Fees:
• Commitment fee: 0.5% on undrawn balance starting 60 days from closing
• Administrative fee: One-time fee of 1.0% on the loan amount, payable at acceptance of the loan offer; if loan is less than 180 days, one-time fee is 0.5% on the loan amount
• Legal fee: Fixed rate of 0.5% on loan amount if outside counsel is required
• Amount: Up to 80% of total project cost

• NEXIM lends short, medium, and long-term fixed rate loans in foreign currency to participating Nigerian banks on behalf of their export clients
• Use of proceeds:
• Capital equipment for production of exports
• Import of raw materials and spare parts for export
• Packaging materials for export
• Tenor:
• 7 years (including 2-year grace period) for capital equipment
• Up to 2 years for spare parts and raw materials
• Up to 1 year for packaging materials
• Security: Combination of company assets, liens, or potentially a bank guarantee
• Eligible exporters: At least 60% of value of local raw materials or intermediate goods, or having a local value added of its products over 50% bound for export
• Maximum financeable amount: Up to 100% of the invoice value provided it shall not be greater than 80% of total project cost
• Fees:
• Commitment fee: 0.5% on undrawn balance starting 60 days from closing
• Administrative fee: One-time fee of 1.0% on the loan amount, payable at acceptance of the loan offer; if loan is less than 180 days, one-time fee is 0.5% on the loan amount
• Legal fee: Fixed rated of 0.5% on the loan amount if outside counsel is required

• NEXIM lends medium- to long-term, fixed-rate, and in local currency, enabling exporters to finance capital purchases and other activities that would require more than 1 year to repay, where purchases enhance exports
• Use of proceeds:
• Set up of new export-oriented projects
• Revitalization or acquisition of additional assets for modernization and/or expansion of existing production
• Acquisition, rehabilitation and/or expansion of plantations/farms for the production and processing of exports
• Acquisition of spare parts and packaging materials for the manufacture of exports
• Tenor:
• 7 years (including 2-year grace period)
• Security: Combination of company assets, liens, et. al.
• Eligible exporters:
• Existing production units with at least 50% export orientation, as evidenced by existing or previous orders
• New units with at least 50% export commitments
• Interest rate: At discretion of NEXIM
• Fees:
• Commitment fee: 1% on undrawn balance starting 60 days from closing
• Administrative fee: One-time fee of 0.75% on the loan amount, payable at acceptance of the loan offer

• Loans to manufacturing exporters to stock local raw materials that are mainly seasonal in nature to achieve optimum annual production levels
• Tenor: Up to 1 year
• Eligible exporter: Creditworthy, at least 50% production for exports, and exporter certification that loan will expand exports
• Fees: Admin fee of 1%, monitoring, and legal fees

• Exports development facility:
• Financing to support export oriented enterprises in the non-oil exports value-chain
• Exporter must produce goods/services for direct export and uses at least 60% (by value) of local raw materials or intermediate goods/services produced in Nigeria for its products, or the local value added of its products exceeds 50%
• Foreign input facility:
• Short, medium and long term fixed rate loans in foreign currency, to participating banks on behalf of their export clients for the importation of raw materials, packaging materials, capital equipment and spare parts needed for the production of goods for export
• Fees: Commitment fee of 1.0% p.a, administrative fee of 0.75% flat
• Exporter uses at least 60% (by value) of local raw materials or intermediate goods/services produced in Nigeria for its products, or the local value added of its products exceeds 50%
• Local input facility:
• Short, medium and long term fixed rate loans in local currency, to participating banks on behalf of their export clients
• Exporters must be existing with a minimum of 50% export orientation or new firms with a minimum of 50% export orientation evidenced by export commitment(s)
• Fees: Commitment fee of 0.5% p.a, administrative fee of 1% flat, legal fee of 0.5% flat
• SME export facility (SMEEF):
• Supports export-oriented SMEs in the non-oil exports value-chain
• The facility shall not be more than 70% of the total project/transaction cost
• Tenor: Renewable 1-year for working capital, 2-7 years for project finance
• Maximum all-in interest rate of 9%
• Women and youth export facility:
• Financing for projects or transactions in the non-oil export sectors that impact women and youth employment
• Tenor: Renewable 2-year for working capital, 5 years for project finance
• Maximum all-in interest rate of 9%
• Business / financial advisory services
• Trade information and market access services
• Sealink project: NEXIM is currently facilitating the establishment of a regional maritime transnational company in collaboration with the organized private sector under the auspices of the Federation of West African Chambers of Commerce and Industry (FEWACCI). The proposed Sealink Project is aimed at mitigating current non-tariff barriers and high logistics costs that has hindered the growth of intra-regional trade and competitiveness of Nigerian manufactured exports regionally
• Factoring: The Bank, under the auspices of FSS 2020 is collaborating with the Afreximbank and FCI to develop and implement a legal framework for Factoring in Nigeria
• ECOWAS Trade Support Facility

• Application processing times for all facilities is 4–12 weeks; list of additional credit information and documentation listed on website

• Industries receiving support concentrated in manufacturing, agricultural, minerals services, and entertainment, all of which are critical sectors of the economy

• NEXIM supports up to the following percentages:
• Pre-shipment: Up to 75% of export value
• Post-shipment: Up to 85% of export value
• L/C confirmation and refinancing: Up to 100% of invoice value
• Project related financing: Up to 100% of invoice value of the equipment with maximum of 80% of total project cost

• Prohibited from financing:
• Armaments, ammunition, and other military equipment
• Psychotropic drugs or narcotics
• All items for which international trade is prohibited by environmental reasons or by international conventions
• Pornographic and obscene materials
• Prohibited items per the Federal Government

• NEXIM supports the environment by supporting/encouraging investment in the Clean Development Mechanism geared towards mitigating the adverse effects of global warming and encouraging earnings from trade in Carbon Credits/Certified Emission Reductions

• Application requirements:
• Non-refundable fee of NBN 50,000
• 3 years of audited financial statements
• Documents related to incorporation, the trade, and the buyer
• Feasibility study or business plan

• Credit application processing times dictated by loan amounts and facility tenors:
• Rediscounting and refinancing: 5 working days
• Short-term facilities: 30–40 working days
• Long-term facilities: 60–120 working days

• 2023: NEXIM partners Fidelity Bank, Sapphital to grow Nigeria’s export