The April 2023 Breakfast Meeting of the Nigerian-American Chamber of Commerce (NACC), themed: ‘Export to the U.S. Series, Financing options for Export Operations’ was held on the 4th, at the Lagos Continental Hotel, Lagos – Nigeria. The Event featured focused presentations from Nigeria’s leading financial Institutions at the fore of Export focused engagements.
In a welcome remark delivered by the President, She stated that the demand for Export financing continues to rise amid the growing world shortage of Trade finance, which makes it increasingly difficult to secure adequate trade financing, especially for small to medium-sized enterprises.
The amount of money needed for export is largely dependent on your product, especially when exporting to the United States.
It is therefore vital to ensure that appropriate financing options are explored to grow your business and sell to a wider range of international markets in the U.S., She concluded.
Our Roll-call of Speakers was:
- Akintunde Folorunso – Southwest Regional Coordinator, Nigerian Export Promotion Council, Nigerian Export Promotion Council (NEPC).
- Dr. Isa Omagu – Divisional Head, Large Enterprises, Bank of Industry Limited.
- Abiodun Oluokun – Head of Trade Finance, Ecobank Nigeria.
Key requirements highlighted to exports seeking finance included:
- Performance by the exporter.
- Quality and Quantity of Products getting exported.
- Mitigation of Payment Risk.
- Security of Capital.
- Security of return on investment.
- Timelines.
We continue to dialogue and seek ways of exploring socio-economic opportunities through businesses and services for the prosperity of the United States and Nigeria.
Looking forward to welcoming you at the next Breakfast Meeting!
Wofai Samuel,
Director of Communication, Government Relations/Advocacy & Programmes,
Nigerian-American Chamber of Commerce.
wofai.samuel@nigerianamericanchamber.org
