NEXIM’s EXCEL initiative targets full potential of Nigerian MSMEs

The Nigerian Export-Import Bank (NEXIM) has highlighted the transformative impact of its EXCEL programme in unlocking the export potential of Micro, Small and Medium Enterprises (MSMEs), which remain the backbone of Nigeria’s economy.

Abubakar Bello, NEXIM’s Managing Director and Chief Executive Officer, stated this on Wednesday at the SME Export Finance Sensitisation Forum in Abuja.

The event was organised in collaboration with the Sustainable and Inclusive Economic Development for Decent Employment programme (SEDIN) and its implementing partner, GIZ.

“With more than 41 million MSMEs accounting for 96.9 per cent of registered businesses, contributing 48 per cent to GDP and employing 87.9 per cent of the workforce, their impact cannot be overstated,” Bello said.

“Yet, 55 per cent of MSMEs struggle with access to finance, and many fail within their first five years due to structural challenges such as infrastructure deficits, high business costs, and regulatory burdens.”

He explained that the EXCEL programme, designed in partnership with GIZ, is a “strategic, digitally enabled initiative” aimed at identifying and supporting export-ready MSME clusters across the country. “Through targeted training and access to tailor-made financial products, EXCEL will empower MSMEs to scale operations and compete globally,” he said.

Citing World Bank data, Bello noted that exports currently contribute only about 7.64 per cent to Nigeria’s GDP, underscoring “the vast untapped potential of the MSME export sector.” To close this gap, he outlined NEXIM’s financing solutions, including the SME Export Facility (SMEEF) and Women and Youth Export Facility (WAYEF), supported by the bank’s NEXA digital platform, which provides access to export services, financial tools, and resources.

“We are also preparing to onboard our SME clients onto the African Trade Gateway (ATG) to facilitate market access, streamline payments and promote intra-African trade under AfCFTA,” he added.

Bello commended NEXIM’s partnership with GIZ, describing it as rooted in shared values and inclusive growth. He also acknowledged the support of key stakeholders such as the Nigerian Export Promotion Council (NEPC), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Abuja Enterprise Agency (AEA), the Nigeria Association of Small and Medium Enterprises (NASME), and WACCIMA.

“This forum is not just an event. It is the beginning of a new journey. I encourage all participants to engage actively, ask questions, and take full advantage of the opportunities presented today,” Bello said.

Speaking on behalf of GIZ, Didier Djoumessi praised NEXIM’s proactive approach to strengthening Nigeria’s non-oil export sector. “Today’s forum marks the beginning of a nationwide sensitisation campaign, with sessions to follow in Edo, Plateau and Lagos States,” he said.

“From GIZ’s perspective, supporting the EXCEL initiative aligns with our belief in the untapped potential of Nigerian MSMEs. With the right mix of finance, capacity building, and market access, MSMEs can fully leverage opportunities under AfCFTA and other global markets.”

He urged participants to make the most of the forum: “Engage, ask questions, and explore how the insights shared today can be applied to strengthen your businesses and clusters. Together, through initiatives like EXCEL, we can build an inclusive, export-ready MSME sector that drives Nigeria’s diversification and long-term growth.”