Fidelity Bank Plc has announced plans to increase active participation of next generation of exporters and entrepreneurs in the non-oil sector as part of efforts to assist the nation improve its foreign exchange earnings and to also create job opportunities for the nation’s teeming unemployed youths.

The General Manager, Small and Medium Enterprises, Fidelity Bank Plc, Ken Opara, explained that with the current scarcity of foreign exchange in the country, it is time to look inwards at sectors where the nation has competitive and comparative advantage to generate enough foreign exchange for the economy.

Opara, during an export management programme organised by the bank, said, “We want to build the next generation of exporters and entrepreneurs that will be able to generate foreign exchange. We also want to lend money to people that are ready. We are targeting people that are export ready and also providing the right platform to support them in order to take their business to the next level.”

He added that Fidelity bank has also partnered the Central Bank of Nigeria and the Nigeria Export Import Bank (NEXIM) on an initiative called the Export Simulation Facility (ESF) to support exporters with loans at nine per cent interest rate.

“This is a one week export programme, called the export management school, the first of its kind in Nigeria. It is targeted at starters who want to engage in export. It is very unique because it takes into consideration practical tips involved in exports.

“In this initiative, we have regulators ranging from NAFDAC, SON, financial institutions, development finance institutions such as CBN, NEXIM and others.

“This is a very unique initiative we have put in place because we recognize that export is the best way to go which we also call the new gold. This is the revenue driver and foreign exchange earner for the nation,” he added.

He said Nigeria could no longer rely on import especially with the current foreign exchange situation in the country, saying that with the scheme organised by the bank, the economy will in the weeks to come, triple the proceeds it generates from the nation’s non-oil sector of the economy.