Tag non oil export stimulation facility

The Tag Non-Oil Export Stimulation Facility (TNESF) is a program designed to stimulate the growth of non-oil exports in Nigeria. Here are some key features and benefits of the facility:

Objectives:

  1. To increase the volume and value of non-oil exports in Nigeria
  2. To diversify the country's export base beyond oil
  3. To promote economic growth and development

Eligibility:

  1. Nigerian companies involved in the production and export of non-oil goods
  2. Companies must have a minimum of 51% Nigerian ownership
  3. Companies must have a valid Certificate of Registration with the Corporate Affairs Commission (CAC)

Benefits:

  1. Funding: TNESF provides financing to eligible companies to support the production and export of non-oil goods
  2. Technical Assistance: The facility provides technical assistance to companies to improve their export competitiveness
  3. Capacity Building: TNESF offers capacity building programs to enhance the skills and knowledge of company staff
  4. Market Access: The facility provides market access support to companies, including assistance with market research, trade missions, and trade agreements
  5. Risk Management: TNESF provides risk management support to companies, including insurance coverage for export-related risks

Types of Financing:

  1. Term Loans: Long-term loans to finance the production and export of non-oil goods
  2. Working Capital Loans: Short-term loans to finance working capital requirements
  3. Export Financing: Financing to support the export of non-oil goods

Interest Rate:

The interest rate for TNESF financing is competitive and is determined based on the company's creditworthiness and the risk profile of the project.

Repayment Period:

The repayment period for TNESF financing is typically 5-7 years, with a grace period of 1-2 years.

Collateral:

Companies applying for TNESF financing must provide collateral to secure the loan. The type and value of collateral required will depend on the company's creditworthiness and the risk profile of the project.

Application Process:

Companies interested in applying for TNESF financing must submit a comprehensive application package, including:

  1. A detailed business plan
  2. Financial statements
  3. Market research and analysis
  4. Export contracts or letters of intent
  5. Collateral documents

The application package must be submitted to the Nigerian Export-Import Bank (NEXIM) or other participating financial institutions.

Contact Information:

For more information on the Tag Non-Oil Export Stimulation Facility, please contact:

Nigerian Export-Import Bank (NEXIM) Plot 1015, Sanusi Lamido Sanusi Street, Central Business District, Abuja, Nigeria Phone: +234 9 461 3000 Email: [email protected]

Note: The information provided is general and may be subject to change. It is recommended that companies interested in applying for TNESF financing consult with the Nigerian Export-Import Bank (NEXIM) or other participating financial institutions for the most up-to-date information.