Zenith Bank Plc hosted the 10th edition of its International Trade Seminar on Non-Oil Export on Tuesday, August 25, 2026, marking a decade of sustained advocacy for the diversification of Nigeria’s economy.
The virtual event brought together policymakers, regulators, exporters, manufacturers, investors and development partners from across Africa and beyond to discuss how Nigeria can earn more from what it sells to the world.
Held under the theme “Unlocking Value and Harnessing Growth,” the seminar examined how Nigeria can move beyond exporting raw commodities to building competitive value chains, strengthening trade infrastructure and financing, and increasing the contribution of non-oil exports to sustainable economic growth.
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 gave birth to the seminar in 2015. She urged participants to turn Nigeria’s improving export figures into lasting economic value.
“Our theme, ‘Unlocking Value and Harnessing Growth’, is not just a slogan. It speaks to the opportunities before us and the need to translate our collective efforts into sustainable economic value,” she said.
According to Umeoji, data from the Nigerian Export Promotion Council showed 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 the $612 million recorded a decade earlier.
She highlighted Zenith Bank’s partnership with the African Continental Free Trade Area Secretariat in developing the SMARTAfCFTA portal, as well as the Bank’s integration with the Pan-African Payment and Settlement System, which she said was making cross-border transactions easier for customers.
“Wherever our exporters need to reach, Zenith Bank will reach with them,” she added.
Umeoji also commended President Bola Ahmed Tinubu, GCFR, for structural reforms aimed at creating a more enabling environment for businesses. She also acknowledged the Central Bank of Nigeria, under Governor Olayemi Cardoso, for reforms she said had contributed to improved foreign exchange stability and market confidence.
“As we build on the progress recorded so far,” she said, “it is important that, as a nation, we accelerate growth by creating more value locally and exporting finished products, rather than just raw materials.”
Government Seeks Stronger Export Environment
Delivering the keynote address, the Honourable Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, MFR, called for deeper trade and investment reforms, a more supportive export environment and wider market access within Africa and beyond.
“The question before us now is not simply how to export more, but how to retain more value in Nigeria from everything we export,” Oduwole said.
She said the Federal Government’s focus was on improving production competitiveness, increasing local processing, connecting Nigerian businesses to larger markets and ensuring that financing, infrastructure and trade systems were available to help businesses expand.
Oduwole, who assumed the chairmanship of the AfCFTA Council of Ministers in July, said Nigeria had an opportunity to benefit significantly from the continent’s market of more than 1.4 billion people and approximately $3.4 trillion in GDP.
She noted that Nigeria’s role as an AfCFTA digital trade co-champion would also help the country influence the development of digital trade and create new opportunities for Nigerian businesses across Africa.
The Minister urged financial institutions to move beyond financing individual export transactions to financing the broader capabilities of exporters.
She also encouraged Nigerian businesses to prepare for increased intra-African trade by investing in productivity, quality and skills.
Afreximbank Calls for New Thinking
In his presentation, 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, GCON, said the current global economic environment required a new approach.
“The theme chosen for this 10th edition is both apt and timely,” Oramah said.
He argued that Africa’s focus should no longer be solely on attracting external capital and demand but also on developing internal demand, participating effectively in global supply chains, building capacity to finance trade and industries, and creating stronger African markets.
Oramah commended Zenith Bank and its leadership for sustaining the promotion of Nigeria’s non-oil export agenda over the past decade.
Call for More Value Addition
The Founder and Executive Chair of Plot Enterprise Ghana Limited, Mrs Patricia Poku-Diaby, stressed the need for African countries to transform their raw materials before exporting them.
“Let us make no mistake: the future of our economy will not be determined simply by what we grow or what we mine, but by what we transform,” she said.
Poku-Diaby called for a shift from being suppliers of raw materials to becoming producers, processors, manufacturers and exporters with strong African brands.
She said more value should be created before products leave African shores.
UK Highlights Nigeria-UK Trade Opportunities
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, commended Zenith Bank for providing the platform.
Kaindama said Nigeria’s entrepreneurial talent, innovation and creativity presented significant opportunities for stronger bilateral trade.
She noted that increasing the value of Nigerian exports through processing, branding and manufacturing could help businesses generate greater returns, create jobs and support sustainable economic growth.
AfCFTA Puts Private Sector at the Centre
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.
He said the success of AfCFTA would ultimately be determined by the ability of African businesses to use the agreement to access new markets, expand investment and increase productive capacity.
Mene also highlighted the importance of reducing Africa’s reliance on unprocessed commodities and accelerating industrialisation and value addition across the continent.
Stakeholders Discuss Export Challenges
The seminar featured two panel sessions focusing on the public and private sectors.
The public sector panel brought together Mr Abubakar Bello, Managing Director of the Nigerian Export-Import Bank (NEXIM), represented by Mr Hope Nyongo, Technical Adviser; Mr Adewale Adeniyi, MFR, Comptroller-General of the Nigeria Customs Service; Dr Abubakar Dantsoho, Managing Director/CEO of the Nigerian Ports Authority, represented by Mr Adebowale Lawal, Ports Manager, Lagos Ports Complex; Ms Aderinola Shonekan, Director, Trade and Exchange Department, Central Bank of Nigeria; Mrs Nonye Ayeni, Executive Director/CEO of the Nigerian Export Promotion Council; and Mr Adekunle Ajai, General Manager, Neroli Technologies.
The panellists discussed measures to improve trade facilitation, customs efficiency, logistics, trade advocacy and exporters’ access to funding.
The private sector panel featured Alhaji Adeniji Adeyemi, MD/CEO of Starlink Global & Ideal Limited; Alhaji Sada Ladan-Baki, Group Executive Director, International Trade and Export, Dangote Group; Mr Bamidele Ayemibo, Senior Consultant, 3T Impex Trade Centre; Mr Mobolaji Salako, Managing Director, Terra Aqua Environmental Consultancy Nigeria Limited; Mr Ramzi Taher, Managing Director, RMM Global Company Limited; Mrs Oluyemisi Iranloye, Founder/Managing Director, Psaltry International; and Chief (Mrs) Chinwe Ezenwa, MD/CEO, Lelook Nigeria Limited.
Discussions centred on trade barriers, value creation, product certification, competitiveness, market intelligence and structured financing required to expand Nigeria’s non-oil exports.
Zenith Bank Marks a Decade of Export Advocacy
The Zenith Bank International Trade Seminar on Non-Oil Export was launched in 2015 to promote dialogue and action around Nigeria’s non-oil export potential.
Ten years later, the Bank continues to support the sector by opening up market opportunities and providing exporters with financing, incentives and practical support.
The 2026 edition was streamed live on Zoom, YouTube, Instagram, Facebook, X and TikTok, attracting thousands of participants from 97 countries.
The 10th edition ended with renewed calls for stronger partnerships, increased investment in local processing and greater access to financing to enable Nigerian businesses to compete effectively in regional and global markets.
