The Nigerian Export-Import Bank has entered into a partnership with the National Inland Waterways Authority and Sealink Promotional Company Ltd to bridge the waterways infrastructure gap and enhance the country’s trade in the ECOWAS sub-region.
The tripartite memorandum of understanding, which was sealed in Abuja, would enhance Nigeria’s annual non-oil exports revenue to between $500m and $1.2bn annually.
The Managing Director, NEXIM Bank, Mr Abba Bello, signed the MoU on behalf of his bank, while the Managing Director, NIWA, Senator Olorunnimbe Mamora, and the Chairperson of Sealink Implementation Committee, Mrs Dabney Shallholma, signed on behalf of their agencies.
Speaking on the pact, Bello noted that the agreement was a public-private partnership framework, which was primarily designed to attract private sector investments under government agencies facilitative support at no cost to the government.
The MoU, he added, was intended to bridge infrastructure gap that would promote and enhance trade connectivity as well as spur Nigeria’s regional and global trade competitiveness.