ARMSTRONG ALLAHMAGANI, Bauchi
Bauchi State Government and Nigerian Export and Import Bank (NEXIM) have signed a N1 Billion Memorandum of Understanding to support the exportation of mineral resources and agricultural products in the state.
Governor Bala Mohammed who signed the MoU with the Bank on Friday, said the partnership would enable the state to exploit its enormous solid mineral resources and agro allied business.
“We have a lot of industrial solid minerals ranging from zinc, platinum, litum and so on. We have developed our agric policy and our value chain. We are ready for business and we have put ourselves on the path of economic recovery,” he said.
Mohammed who expressed worry over Bauchi state’s dependence on the federal government’s monthly allocation said it was the time for Bauchi to diversify its economy to improve the Nation’s Gross Domestic Product (GDP).
The Managing Director, of NEXIM, Abba Bello, said the bank is supporting all the states by financing exportation of products.
He said: “We are to finance with a minimum of N1Billion for any exportable commodity from Bauchi state.
“We want Bauchi State to appear on the value chain of exportation. It has the right to choose any area it wishes to thrive under this programme.”
Bello urged the State to ensure inclusiveness of grassroots. According to him, the programme would be ran as the ongoing Anchor Borrower programme which is targeting farmers.
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