NEXIM Bank Secures BBB+ Rating, Doubles Profit to ₦30.47bn

By Oluwkemi Kindness

The Nigerian Export-Import Bank (NEXIM) has earned a “BBB+” credit rating from Agusto & Co., confirming its strong financial position and ability to meet obligations among Nigeria’s development finance institutions.

According to reports, in 2024, NEXIM posted an operating profit of ₦30.47 billion, more than double the ₦13.75 billion recorded in 2023.

The Bank credits this growth to its resilience and efficiency in supporting Nigeria’s non-oil export sector.

NEXIM, jointly owned by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI), has disbursed over ₦495 billion into manufacturing, agriculture, solid minerals, and services, creating and sustaining more than 36,000 jobs.Key initiatives include:

Regional Sealink Project – improving shipping and logistics across West and Central Africa.

Factoring Services – new financing options for SMEs in export trade.

Joint Project Preparation Fund (JPPF) with Afreximbank – making export projects more bankable.

Mining Sector Financing – contract mining, equipment leasing, and buyer’s credit to unlock export potential.

Managing Director Abba Bello says the Bank is committed to building processing capacity, moving Nigeria up the value chain, and boosting non-oil export earnings.