Stakeholders have called for concerted efforts to add value to non-oil export products by processing them into semi-finished and finished goods, unlocking significant economic benefits for Nigeria.
This call was made at the 9th Annual Zenith Bank International Trade Seminar, themed “Nigerian Non-Oil Export Industry: Awakening the Giant,” held virtually on September 4, 2024.
Dr. Adaora Umeoji, Group Managing Director/CEO of Zenith Bank Plc, highlighted the importance of non-oil export in creating jobs and generating foreign exchange earnings.
She emphasized the need to increase the number and volume of exportable non-oil items and add value to exportable items into finished products.
Segun Awolowo, Secretary, National Action Committee, AfCFTA, commended Zenith Bank for its initiative in organizing the seminar and supporting the implementation of the AfCFTA.
He emphasized the need to focus on scaling production, productivity, and value addition for specific export products with high potential across three main sectors: solid minerals, agriculture, and petro-chemicals.
Abba Bello, Managing Director of Nigerian Export Import Bank (NEXIM), emphasized the need to amplify the export of services to facilitate economic growth.
He highlighted the importance of developing strategic frameworks to support the promotion of export of services.
The Governor of Lagos State, Babajide Olusola Sanwo-Olu, represented by The Honourable Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, highlighted the efforts of the Lagos State Government in facilitating non-oil export for the growth of the Nigerian Economy.
He emphasized the focus on value addition and transforming raw agricultural products into finished goods.
The Governor of Kano State, Abba Kabir, represented by the Special Adviser, State Affairs, Usman Bala Muhammad, emphasized strategic advantages in economic diversification in non-oil exports.
He highlighted the importance of adding value to agricultural products and aligning export diversification strategies with global market trends and standards.
The Governor of Zamfara State, Dr. Dauda Lawal, represented by the Commissioner of Finance, Abdullahi Bello Auta, urged stakeholders to explore other untapped areas for export.
He highlighted the potential of the mining sector and the need to harness its potential.
Zenith Bank launched the Non-Oil Export Seminar in 2015 to deepen the discourse on promoting the non-oil export business in Nigeria.
The bank remains committed to promoting the non-oil export sector in Nigeria by identifying emerging opportunities and developing robust financial products and incentives for operators in the sector.
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