Zenith Bank Plc has called for greater value addition, stronger trade infrastructure and improved financing to accelerate Nigeria’s non-oil export growth and boost the country’s earnings from international trade.
The call was made at the 10th edition of the bank’s International Trade Seminar on Non-Oil Export, held virtually on Tuesday, August 25, 2026, with the theme, “Unlocking Value and Harnessing Growth.”
The seminar brought together policymakers, regulators, exporters, manufacturers, investors and development partners from Nigeria, Africa and beyond to deliberate on strategies for moving the country from the export of raw commodities to the production and export of higher-value finished goods.
In her welcome address, Zenith Bank’s Group Managing Director/Chief Executive Officer, Dame (Dr.) Adaora Umeoji, OON, said Nigeria’s rising non-oil export figures must translate into sustainable economic value.
Umeoji noted that Nigeria’s non-oil exports reached a record $6.1 billion in 2025, representing an 11.5 per cent increase from the $5.46 billion recorded in 2024 and a significant rise from $612 million a decade ago.
She said the bank’s partnership with the African Continental Free Trade Area (AfCFTA) Secretariat had led to 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.
According to her, Nigeria must accelerate local value creation and focus on exporting finished products rather than depending heavily on raw commodity exports.
She also commended the Federal Government for economic reforms aimed at creating a more enabling business environment, as well as the Central Bank of Nigeria for measures that have strengthened foreign exchange stability and market confidence.
Delivering the keynote address, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, called for deeper trade and investment reforms, improved export conditions and wider access to markets across Africa and beyond.
Oduwole said the priority should no longer be merely to increase export volumes but to ensure that a greater share of the value generated from Nigeria’s exports remains in the country.
She said the Ministry was focused on improving domestic competitiveness, expanding processing capacity, connecting Nigerian businesses to larger markets and strengthening the financing, infrastructure and trade systems required for businesses to scale.
The minister, who assumed the chairmanship of the AfCFTA Council of Ministers in July, said Nigeria had a major opportunity to leverage the continental market of more than 1.4 billion people and an estimated $3.4 trillion economy.
She urged financial institutions to move beyond financing individual export transactions to supporting the development of export capacity, while encouraging businesses to invest in productivity, quality and skills to compete effectively in intra-African trade.
Also speaking, the Chair of the Board of Directors of the Fund for Export Development in Africa (FEDA) and immediate past President/Chairman of Afreximbank, Professor Benedict Oramah, said Africa needed to develop stronger internal demand, productive capacity and the ability to finance its own trade and industries.
Oramah described the seminar’s theme as timely, noting that changing global economic conditions presented both challenges and opportunities for Africa’s economic transformation.
He commended Zenith Bank for sustaining its advocacy for Nigeria’s non-oil export sector over the past decade.
Similarly, the Founder and Executive Chair of Plot Enterprise Ghana Limited, Mrs Patricia Poku-Diaby, urged African countries to move from exporting raw materials to producing, processing and manufacturing goods with greater value.
She said the future of African economies would depend not only on what countries grow or extract, but on how much value they add before products leave their shores.
On Nigeria-United Kingdom trade relations, the UK Minister of State at the Ministry of Housing, Communities and Local Government, Rt. Hon. Florence Eshalomi, represented by the Head of Trade Policy for UK Business, Innovation, Science and Trade, Ms Mujina Kaindama, said there was significant potential for stronger bilateral trade.
She stressed the importance of processing raw materials, developing brands and producing higher-value agricultural and manufactured goods to create jobs and boost returns for Nigerian businesses.
The Secretary-General of the AfCFTA Secretariat, Wamkele Mene, said the private sector remained central to Africa’s economic transformation.
Mene said the success of AfCFTA would ultimately be measured by the ability of African businesses to use the agreement to access new markets, expand investment and production capacity, and create jobs across the continent.
The seminar also featured public and private sector panel sessions focused on trade facilitation, customs efficiency, logistics, export financing, certification, competitiveness and market intelligence.
The public sector panel featured representatives of the Nigerian Export-Import Bank, Nigeria Customs Service, Nigerian Ports Authority, Central Bank of Nigeria, Nigerian Export Promotion Council and Neroli Technologies.
The private sector panel comprised 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 Zenith Bank International Trade Seminar on Non-Oil Export was launched in 2015 as a platform for promoting dialogue and practical solutions around Nigeria’s non-oil export potential.
Ten years later, the bank said it remained committed to supporting exporters through financing, market opportunities, incentives and other practical interventions.
The 2026 edition was streamed across Zoom, YouTube, Instagram, Facebook, X and TikTok, attracting thousands of participants from 97 countries.
The seminar ended with renewed calls for stronger partnerships among government, financial institutions and the private sector to equip Nigerian businesses with the capital, infrastructure, skills and market access required to compete in regional and global markets.
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