The Role of Nigeria Export Import (NEXIM) Bank in Economic Development of Nigeria: A Review

Abstract

The paper was written to review the role of the Nigeria Export-Import (NEXIM) bank in the development of Nigerian economy. The NEXIM bank which was set up in 1991 with enviable mandate of propelling the economy through trade finance, export market advisory services and Export Guarantee facility among others could not fulfill the objectives of its funding fathers. This was due to poor management team and poor funding. The bank has been resuscitated in 2010 under the new leadership of Mr. Roberts’s Orya who has outperformed his predecessors due to his management doggedness and the cooperation of the current government in terms of funding. It was therefore recommended that the management should be given free hand to perform, and be empowered with more funds and the management should open a cordial linkage with other EXIM banks in bigger economies of the world. Through these, the NEXIM would be able to perform maximally.