The Nigerian Export-Import Bank and the government of Katsina State have agreed to sign a Memorandum of Understanding to boost the export of Sesame seed and other agricultural products in the state.
The parties are expected to set up an implementation committee to drive the realization of the project after signing the MOU. These as part of the bank’s nationwide diversification campaign is aimed at boosting the exports of non-oil products as a major revenue earner for the country.
The Managing Director, NEXIM, Mr. Abba Bello, said these during a meeting with the Governor of Katsina State, Aminu Masari. Bello told the governor that a N1bn Export Development Fund had been set aside to support the export value chain in the 36 States of the Federation and the Federal Capital Territory. He stated that the scheme was in line with the One State, One Product Project and was aimed at customizing products in the state and to assist exporters.
The NEXIM bank MD explained that the funding of the product is part of the bank’s drive to promote the Federal Government’s agenda of economic diversification as contained in the Economic Recovery and Growth Plan. Bello explained that although the N1bn was inadequate, the portfolio could be increased with time to give room for expansion.
Bello called on the state government to consider harnessing and exporting of Sesame Seed, which he described as a thriving agro product in the State with high demand in Asian Countries. The governor in his response said the meeting came at a time when the state was in the process of developing a model to drive the exportation of agricultural products in the State Masari said there is need for value addition before export could be made noting that this is how jobs could be created.
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