Nigeria
“Nigeria has consistently been one of Ex-Im Bank's most active
customers in the region; and, in the near term the economic outlook is
bright. GDP growth is expected to be at or above 7% in 2010 and 2011,
and we look to build on the success of our one billion dollar Nigerian Banking Facility, which has supported over half a billion dollars in U.S. exports since it was first put in place.” – Fred Hochberg, Chairman, Export-Import Bank of the U.S.
Activity by Sector FY07-12
![nigeriachart[1]](https://webarchive.library.unt.edu/web/20121014010011im_/http://www.exim.gov/about/whatwedo/markets/images/nigeria.gif "nigeriachart[1]")
Nigeria is Africa's most populous country, and has its second
largest economy. The country is rich in natural resources, and has
significant opportunities for infrastructure development. In order to
support U.S. exports to Nigeria, the Export Import Bank of the United
States has developed a $1 billion Nigerian Bank Facility (NBF). The NBF
involves 14 Nigerian banks and allows for expedited processing of
insurance and guarantees, allowing transactions that involve these banks
expedited processing.
- Lagos: ABRO Industries, Inc., a small business
located in South Bend, Indiana, has been exporting automotive and
industrial supply products to Coscharis Motors Limited in Lagos. The
transactions have been supported by a US Export Import Bank multibuyer
insurance policy, which ABRO has used to increase sales throughout
Sub-Saharan Africa.
- Abuja: Four American businesses exported equipment
and services to Xechem Pharmaceuticals Nigeria Limited, which used the
products to build laboratories and a manufacturing plant in order to
develop a variety of herbal-based drugs to combat sickle cell anemia.
The project was made possible by a $9.3 million loan guarantee from the
Export-Import Bank of the United States. The four U.S. exporters
are American Plastics Technologies, Inc., Schiller Park, Illinois;
FinancialBridge, Inc., Miami, Florida; Nitra Group, Aventura, Florida;
and Fisher Scientific Co. LLC, Suwanee, Georgia. American Plastics
Technologies and FinancialBridge are both small businesses
- Dugbe, Oyo State: Harris Corp., Redwood City,
California, sold equipment and services to Odu'a Telecoms Limited for a
fixed wireless telecommunications network throughout five states in
southwestern Nigeria. The Export-Import Bank of the United States
approved a $10.4 million loan guarantee to make the transaction
possible. The sale brought telephone service to tens of thousands of
Nigerians and at the same time supported U.S. jobs.
- Lagos: Southern Textile LLC of Charlotte, North
Carolina sold new and used textile equipment to Meggitto Ventures
Limited in Lagos, Nigeria. The Export-Import Bank of the United States
(Ex-Im Bank) approved a $2.3 million medium-term, comprehensive
guarantee to support the sale. The increase in production resulting
from the newly acquired equipment will be dedicated primarily to the
manufacturing of t-shirts. The transaction is being guaranteed by
Oceanic Bank International, Nigeria under the Ex-Im Bank Nigerian
Banking Facility.
- Kano State: Raytheon Aircraft Company of Wichita,
Kansas, exported two Beech 1900D aircraft to Overland Airways Ltd., a
domestic airline based in Nigeria. Overland has utilized the 19
passenger aircraft to expand service throughout Nigeria, including into
Kano state in the North. The Export-Import Bank of the United
States (Ex-Im Bank) provided a medium-term direct loan to support the
transaction.
For additional questions or information, please contact
Ex-Im Bank Business Development Staff
Mr. Rick Angiuoni
Regional Director for Africa
E-Mail: rick.angiuoni@exim.gov
Mr. Benjamin S. Todd
Business Development Officer for Africa
E-Mail: ben.todd@exim.gov
Commercial Service Office
http://www.buyusa.gov
U.S. Embassy in the Country
http://abuja.usembassy.gov/
Country Embassy in U.S.
http://www.nigeria
embassyusa.org
page last updated 2012-Sep-26
“Nigeria has consistently been one of Ex-Im Bank's most active customers in the region; and, in the near term the economic outlook is bright. GDP growth is expected to be at or above 7% in 2010 and 2011, and we look to build on the success of our one billion dollar Nigerian Banking Facility, which has supported over half a billion dollars in U.S. exports since it was first put in place.” – Fred Hochberg, Chairman, Export-Import Bank of the U.S.
Activity by Sector FY07-12
Nigeria is Africa's most populous country, and has its second
largest economy. The country is rich in natural resources, and has
significant opportunities for infrastructure development. In order to
support U.S. exports to Nigeria, the Export Import Bank of the United
States has developed a $1 billion Nigerian Bank Facility (NBF). The NBF
involves 14 Nigerian banks and allows for expedited processing of
insurance and guarantees, allowing transactions that involve these banks
expedited processing.
- Lagos: ABRO Industries, Inc., a small business
located in South Bend, Indiana, has been exporting automotive and
industrial supply products to Coscharis Motors Limited in Lagos. The
transactions have been supported by a US Export Import Bank multibuyer
insurance policy, which ABRO has used to increase sales throughout
Sub-Saharan Africa.
- Abuja: Four American businesses exported equipment
and services to Xechem Pharmaceuticals Nigeria Limited, which used the
products to build laboratories and a manufacturing plant in order to
develop a variety of herbal-based drugs to combat sickle cell anemia.
The project was made possible by a $9.3 million loan guarantee from the
Export-Import Bank of the United States. The four U.S. exporters
are American Plastics Technologies, Inc., Schiller Park, Illinois;
FinancialBridge, Inc., Miami, Florida; Nitra Group, Aventura, Florida;
and Fisher Scientific Co. LLC, Suwanee, Georgia. American Plastics
Technologies and FinancialBridge are both small businesses
- Dugbe, Oyo State: Harris Corp., Redwood City,
California, sold equipment and services to Odu'a Telecoms Limited for a
fixed wireless telecommunications network throughout five states in
southwestern Nigeria. The Export-Import Bank of the United States
approved a $10.4 million loan guarantee to make the transaction
possible. The sale brought telephone service to tens of thousands of
Nigerians and at the same time supported U.S. jobs.
- Lagos: Southern Textile LLC of Charlotte, North
Carolina sold new and used textile equipment to Meggitto Ventures
Limited in Lagos, Nigeria. The Export-Import Bank of the United States
(Ex-Im Bank) approved a $2.3 million medium-term, comprehensive
guarantee to support the sale. The increase in production resulting
from the newly acquired equipment will be dedicated primarily to the
manufacturing of t-shirts. The transaction is being guaranteed by
Oceanic Bank International, Nigeria under the Ex-Im Bank Nigerian
Banking Facility.
- Kano State: Raytheon Aircraft Company of Wichita, Kansas, exported two Beech 1900D aircraft to Overland Airways Ltd., a domestic airline based in Nigeria. Overland has utilized the 19 passenger aircraft to expand service throughout Nigeria, including into Kano state in the North. The Export-Import Bank of the United States (Ex-Im Bank) provided a medium-term direct loan to support the transaction.
For additional questions or information, please contact
Ex-Im Bank Business Development Staff
Mr. Rick Angiuoni
Regional Director for Africa
E-Mail: rick.angiuoni@exim.gov
Mr. Benjamin S. Todd
Business Development Officer for Africa
E-Mail: ben.todd@exim.gov
Commercial Service Office
http://www.buyusa.gov
U.S. Embassy in the Country
http://abuja.usembassy.gov/
Country Embassy in U.S.
http://www.nigeria
embassyusa.org
page last updated 2012-Sep-26