The Nigerian Export-Import (NEXIM) Bank is exploring a “Bayelsa Beyond Oil” partnership to diversify the state’s economy, drive development, and deliver transformative projects to the people of Bayelsa State.
According to NEXIM Bank’s Managing Director, Mr. Abba Bello, the partnership could focus on engagements to revamp moribund industrial projects, promote and attract investments into the state’s blue economy, and incentivize growth in non-oil and gas sectors.
This vision emerged from a strategic discussion between the NEXIM Bank MD and his team including Mohammad Wanna Awami, Head, Specialized Business Department, and Hope Yongo and the Technical Assistant to the Governor on General Duties, Hon. Kelvin F. Otele, at the NEXIM House, Abuja.
The meeting was held in preparation for the signing of a Memorandum of Understanding (MoU) between NEXIM Bank and the Bayelsa State Government to actualize the Bayelsa Beyond Oil initiative.
The initiative will lead to the establishment of a Special Purpose Vehicle (SPV) to structure investments and manage project execution in alignment with global standards.
Facilitation of a Bayelsa Export Development Fund to support SMEs and local cooperatives entering the export value chain.
Support for Sustainable Blue Economy Projects, particularly around the Atlantic coastline, riverine communities, and the Brass Island corridor.
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