In a determined move aimed at promoting and supporting exportation of the abundant mineral resources and agricultural produce in the state, Bauchi State Government and Nigerian Export and Import Bank (NEXIM) have signed an N1 Billion memorandum of agreement (MoU)
While at the signing of the MoU at the Government House on Friday, The State Governor, Sen Bala Mohammed said that the partnership will enable the state to exploit its enormous solid mineral resources and agro-allied businesses which hitherto had remained untapped.
The Governor said: “We have a lot of industrial solid minerals ranging from zinc; platinum, bitumen 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.
Bala Mohammed, however, expressed worries over-dependence of the state on the federal Government monthly allocation saying that it is now the time for Bauchi to diversify its economy in order to improve the Nation’s Gross Domestic Product (GDP).
Managing Director, NEXIM Bank, Abba Bello said: “We are supporting all the states of the federation by financing exportation of products. We are to finance with a minimum of N1Billion for an exportable commodity from Bauchi State”.
The MD added that “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.
Abba Bello, however, urged the State to ensure inclusiveness of grassroots in the scheme of things because According to him, the programme will be run as the ongoing Anchor Borrower programme which is targeting farmers.
He assured that as soon as all administrative procedures were done, the bank will immediately release the grant for disbursement by the State government but with strict supervision by NEXIM bank.