Small & Medium Enterprise Export Facility (SMEEF)

For the purpose of this Facility, Small and Medium Enterprises are defined as:

Other yardsticks include:

• Businesses with turnover of less than N100.0 Million per annum;
• Businesses with Share Capital of less than N5,000,000.

The objectives of Small and Medium Enterprise Export Facility (SMEEF) are to:

• Improve access of Export-Oriented Small and Medium Enterprises (SMEs), Clusters, and Associations to concessionary finance in a bid to expand and diversify the non-oil export baskets.
• Attract new investments and encourage re-investments in value-added non-oil exports.
• Revamp/resuscitate Export-Oriented Small and Medium Enterprises (SMEs), Clusters and Associations to create and sustain more jobs within the non-oil export sector in Nigeria.
• Support Small and Medium Enterprises (SMEs), Clusters and Associations to stock seasonal commodities such as Cocoa Beans, Cashew Nuts, Sesame Seeds, Ginger, Hibiscus Flower etc. for year round export trade and improved profit margins.
• Support Small and Medium Enterprises (SMEs), Clusters and Associations to upscale and expand export operational capacities and upgrade production systems.
• Diversify and increase the contribution of non-oil export revenue and value-added exports for sustainable economic development.
• Broaden the scope of export financing instruments and complement other non-oil export financing schemes.
• Increase foreign exchange generation in the Nigerian economy.

Eligible Borrowers/Beneficiaries

• Duly registered Small and Medium Enterprises (SMEs), Clusters and Associations in Nigeria with satisfactory credit reports obtained from at least two (2) Credit Bureaus (in line with the provisions of the CBN Circular BSD/DIR/GEN/CIR/04/014 dated April 30, 2010);
• Small and Medium Enterprises (SMEs), Clusters and Associations engaged in the production and/or marketing of export goods and services;
• Small and Medium Enterprises (SMEs), Clusters and Associations that are registered with the Nigerian Export Promotion Council (NEPC);
• Small and Medium Enterprises (SMEs), Clusters and Associations that belong to a relevant Commodity Export Association.

Eligible Projects/Transactions

Eligible Transactions that shall qualify for the support of NEXIM under this Facility include:

• Viable Transactions connected with export of goods wholly or partly manufactured in Nigeria, which are exportable under the laws of Nigeria;
• Export-generating imports, principally raw materials, equipment and spare parts required by a manufacturing exporter;
• Export of viable services (consultancy, tourism, transport, event planning, hospitality etc.);
• Transactions of value added production supported by States/Regions and promoted by Private Sector Companies;
• Anchor Borrower-Type arrangement for exports in collaboration with Co-operative societies and other community-based support arrangements;
• Projects with regional export promotion/export development objectives and/or promoted by States as a private sector export enterprise.