Bleak Future for Oil Opens Nigeria's Nexim Bank Policy for Re-Examination

(This Day Live, Lagos, 19 December 2015) Given that oil remains the basis upon which Nigeria's national budget is benchmarked, the downturn opens the country up to harsh vulnerabilities. Since this reality was fairly foreseen and foretold by development analysts it rightly ought not to have met Nigeria unprepared, right? To be fair to government, specific proactive steps had long been taken by governments including mandating a development finance agency with the responsibility of designing and driving the vision to promote and grow the non-oil sectors of the economy. That obligation fell on the laps of the nation’s flagship development finance agency, the Nigerian Export-Import Bank, NEXIM.