The Nigeria Export-Import Bank (NEXIM) has unveiled that investors in Nigeria are enjoying substantial returns, averaging around 30%. Stella Okotete, the Executive Director of Business Development at NEXIM, shared this insight during a meeting with the Mexican Ambassador to Nigeria, Alfredo Miranda. The discussion centered on fostering a strategic partnership between the two nations to expand access to Nigerian goods in the Mexican market.
Okotete emphasized the potential collaboration’s benefits, citing enhanced foreign exchange earnings, increased investment opportunities, and the overall prosperity for citizens in both countries. She showcased Nigerian-made export goods financed by the bank and highlighted diverse investment prospects within Nigeria, particularly in the non-oil export sector.
“In some cases, we’re talking about a return on investment ranging from seven to 30 percent. You won’t find such lucrative returns anywhere but in Nigeria. So, in terms of investments, this is the prime destination,” Okotete asserted.
The NEXIM official also pointed out the untapped mining potential in Nigeria, proposing collaboration with Mexico in developing the mining sector for export. The visit by the Mexican delegation signifies a crucial step toward deepening trade relationships, fostering economic growth, and exploring mutually beneficial investment opportunities between the two nations.
Mexican Ambassador Alfredo Miranda responded positively, acknowledging the potential for increased economic and bilateral cooperation. He highlighted the various initiatives by NEXIM to promote non-oil exports and expressed Mexico’s $1.4 trillion economy as an advantageous space for Nigerian businesses and exporters.
Miranda stressed the importance of identifying business opportunities in both countries to enhance trade, attract investments, and facilitate the development of robust trade policies benefiting Nigeria and Mexico.
