Zenith Bank Marks 10 Years of Promoting Nigeria’s Non-Oil Export Growth
The virtual seminar, themed “Unlocking Value and Harnessing Growth,” brought together policymakers, regulators, exporters, manufacturers, investors and development partners from Africa and beyond to explore ways of increasing the value Nigeria derives from its exports.
The event focused on moving Nigeria beyond the export of raw commodities by developing competitive value chains, improving trade infrastructure, expanding access to finance and strengthening the country’s position in regional and global markets.
In her welcome address, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, paid tribute to the Bank’s Founder, Dr. Jim Ovia, CFR, whose vision led to the establishment of the seminar in 2015.
Umeoji noted that Nigeria’s non-oil exports had continued to record significant growth, stressing the need for the country to translate the increase into sustainable economic value.
According to her, Nigeria’s non-oil exports reached $6.1 billion in 2025, representing an 11.5 per cent increase from $5.46 billion recorded in 2024 and a significant rise from the $612 million recorded a decade earlier.
She disclosed that Zenith Bank, in partnership with the African Continental Free Trade Area Secretariat, had commenced the development of the SMARTAfCFTA portal, while its integration with the Pan-African Payment and Settlement System was helping to facilitate cross-border transactions for customers.
Umeoji also commended President Bola Ahmed Tinubu for economic reforms aimed at improving the business environment and the Central Bank of Nigeria, under Governor Olayemi Cardoso, for measures that have contributed to improved foreign exchange stability and market confidence.
She called for greater emphasis on local processing and the export of finished products rather than raw materials.
The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, MFR, in her keynote address, called for stronger trade and investment reforms, improved export conditions and wider access to markets.
Oduwole said Nigeria must focus not only on increasing export volumes but also on retaining more value locally.
She said the Federal Government was working to promote competitive production, expand local processing, connect Nigerian businesses with larger markets and strengthen the financing, infrastructure and trade systems required for businesses to scale.
She also highlighted the opportunities presented by the African Continental Free Trade Area, noting that the continent’s market of more than 1.4 billion people and an estimated $3.4 trillion economy offered significant opportunities for Nigerian businesses.
The minister urged financial institutions to expand their support beyond export transaction financing to include financing for export capacity, while encouraging businesses to invest in productivity, quality and skills.
The Chair of the Board of Directors of the Fund for Export Development in Africa and immediate past President/Chairman of Afreximbank, Professor Benedict Oramah, said Africa needed to develop stronger internal markets and build the capacity to finance its own trade and industries.
Oramah described the theme of the seminar as timely, noting that changing global economic conditions presented both challenges and opportunities for Africa.
He commended Zenith Bank for sustaining its advocacy for Nigeria’s non-oil export sector over the past decade.
The Founder and Executive Chair of Plot Enterprise Ghana Limited, Mrs Patricia Poku-Diaby, stressed the importance of transforming raw materials into finished and branded products.
She urged African economies to move from supplying raw materials to becoming producers, processors, manufacturers and exporters capable of building strong African brands.
Speaking on the Nigeria-United Kingdom trade relationship, the UK Minister of State at the Ministry of Housing, Communities and Local Government, Rt. Hon. Florence Eshalomi, MP, represented by Ms Mujina Kaindama, Head of Trade Policy for UK Business, Innovation, Science and Trade, described the relationship between both countries as one with significant potential.
She encouraged Nigerian businesses to move higher up the value chain by processing raw materials, developing branded products and producing higher-value agricultural and manufactured goods.
The Secretary-General of the African Continental Free Trade Area Secretariat, His Excellency Wamkele Mene, said the private sector remained central to Africa’s economic transformation.
Mene said the success of AfCFTA would ultimately depend on the ability of businesses to use the agreement to access new markets, expand investments and increase production capacity while creating jobs across the continent.
The seminar featured public and private sector panel sessions.
The public sector panel included representatives of the Nigerian Export-Import Bank, Nigeria Customs Service, Nigerian Ports Authority, Central Bank of Nigeria, Nigerian Export Promotion Council and Neroli Technologies.
Discussions centred on trade facilitation, customs efficiency, logistics, export promotion and access to funding.
The private sector panel featured representatives of Starlink Global & Ideal Limited, Dangote Group, 3T Impex Trade Centre, Terra Aqua Environmental Consultancy Nigeria Limited, RMM Global Company Limited, Psaltry International and Lelook Nigeria Limited.
The panellists examined challenges affecting exporters, including trade barriers, product certification, competitiveness, market intelligence, value addition and access to structured financing.
Launched in 2015, the Zenith Bank International Trade Seminar on Non-Oil Export has provided a platform for stakeholders to discuss opportunities and challenges in Nigeria’s non-oil export sector.
The 2026 edition attracted thousands of participants from 97 countries and was streamed across Zoom, YouTube, Instagram, Facebook, X and TikTok.
As the seminar marked its 10th anniversary, Zenith Bank reiterated its commitment to supporting Nigerian businesses with financing, market opportunities, partnerships and other resources needed to compete successfully in African and global markets.