Nigeria
Benin
Burkina Faso
Cameroon
Tchad
RDC
Cote d'ivoire
Gabon
Ghana
Guinea
Kenya
Liberia
Moçambique
Senegal
Sierra Leone
Tanzania
Uganda
Zambia
France
America
Mali
UK
Foundation
UAE
France
The Non-Oil Export Simulation Facility (NESF)
The Non-Oil Export Stimulation Facility (NESF) was introduced by the Central Bank of Nigeria (CBN) to increase the revenue base of the economy and to speed up the growth and development of the non-oil export sector.
The facility will help redress the declining export financing and reposition the sector to increase its contribution to economic development.
The facility will give exporters access to a working capital loan up to N1 Billion, at an interest rate of 12% per annum and a tenor of 12 months.
Transactions eligible for the Non-oil export facility include:
- ✔ Export of goods processed or manufactured in Nigeria.
- ✔ Export of commodities and services, which are allowed under the laws of Nigeria.
- ✔ Imports of plant & machinery, spare parts and packaging materials, required for export-oriented production that cannot be sourced locally.
- ✔ Resuscitation, expansion, modernisation and technology upgrade of non-oil export.
- ✔ Export value chain support services such as transportation, warehousing and quality assurance infrastructure.
- ✔ Working capital/stocking facility; and
- ✔ Structured trade finance arrangements
The target products are non-oil export commodities and in the first instance the loan will be limited to financing of Cocoa and Cashew. These are products/commodities largely supported by the CBN Export Facilitation Initiatives.