The Managing Director (MD)/Chief Executive Officer (CEO) of the Nigerian Export-Import (NEXIM) Bank, Mr. Abubakar Bello, has emphasised that Nigeria cannot achieve a $1 trillion economy without broad-based diversification, underlining the central role of the non-oil sector in driving sustainable growth.
Mr. Bello made the disclosure during the 2025 Annual General Meeting (AGM) of the Finance Correspondents Association of Nigeria (FICAN) in Abuja, held under the theme ‘Actualizing President Bola Ahmed Tinubu’s $1tn Economy Agenda.’ Represented by Dr. Babagana Musti, Senior Manager in the Strategic Planning Department, Mr. Bello reported that NEXIM Bank disbursed N179.79 billion to Nigerian exporters in 2025, targeting enterprises across small, medium, and large-scale operations.
He highlighted the bank’s commitment to empowering exporters through low-interest funding and guarantees, aimed at de-risking international trade and promoting a “Made in Nigeria” label as a symbol of quality on the global stage. “We cannot float a trillion-dollar economy on the back of a single commodity,” Mr. Bello said. “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.”
The NEXIM Bank CEO noted that diversification is not only a strategic necessity but also a practical pathway to boosting Nigeria’s role in continental and global trade. He emphasised that the bank is facilitating trade under the African Continental Free Trade Area (AfCFTA), helping Nigerian businesses navigate new markets from Accra to Cairo, and leveraging intra-African trade to generate sustainable wealth.
Mr. Bello further urged finance journalists to play a crucial role in building investor confidence by reporting on non-oil sector achievements accurately. “We recognise that for the public and the international community to truly appreciate the milestones on this road to $1tn, we need you. 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 said.
He reaffirmed NEXIM Bank’s transparency and open-door policy, encouraging journalists to scrutinise programs, share success stories, and provide constructive feedback to strengthen governance and performance.
Mr. Bello’s remarks underscore the centrality of diversification to Nigeria’s economic transformation agenda. By focusing on non-oil exports, leveraging intra-African trade, and strengthening the export ecosystem, NEXIM Bank aims to position Nigeria on a sustainable growth trajectory toward achieving the ambitious $1 trillion GDP milestone.
