From Kenechukwu Obiajuru, Yenagoa
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.
The NEXIM Bank’s Managing Director, Mr. Abba Bello, said partnership will 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 was the outcome of a strategic discussion between the NEXIM Bank MD and his team 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.
It would also ensure the facilitation of a Bayelsa Export Development Fund to support SMEs and local cooperatives entering the export value chain.
As well as support for Sustainable Blue Economy Projects, particularly around the Atlantic coastline, riverine communities, and the Brass Island corridor
