Zenith Bank Plc has marked a decade of promoting Nigeria’s non-oil export sector with the 10th edition of its International Trade Seminar on Non-Oil Export, held virtually on Tuesday, August 25, 2026.
The seminar, themed “Unlocking Value and Harnessing Growth,” brought together policymakers, regulators, exporters, manufacturers, investors and development partners from Nigeria, Africa and beyond to examine strategies for strengthening the country’s non-oil export capacity and increasing the value derived from goods sold internationally.
The event focused on moving Nigeria beyond the export of raw commodities towards value addition, competitive production, stronger trade infrastructure, improved access to finance and deeper integration into regional and global value chains.
In her welcome address, Zenith Bank’s Group Managing Director and Chief Executive Officer, Dame (Dr.) Adaora Umeoji, OON, commended the Bank’s Founder, Dr. Jim Ovia, CFR, for initiating the seminar in 2015 and urged stakeholders to build on the recent growth recorded in the country’s non-oil exports.
Umeoji disclosed that Nigeria’s non-oil exports rose to 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 Zenith Bank was strengthening its support for exporters through strategic partnerships and digital trade initiatives, including the development of the SMARTAfCFTA portal in collaboration with the African Continental Free Trade Area Secretariat and the Bank’s integration with the Pan-African Payment and Settlement System (PAPSS).
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According to her, these initiatives are designed to simplify cross-border transactions and enable Nigerian businesses to access wider African markets.
She also commended President Bola Ahmed Tinubu for economic reforms aimed at creating a more business-friendly environment and praised the Central Bank of Nigeria under Governor Olayemi Cardoso for measures that have improved foreign exchange stability and market confidence.
Umeoji, however, called for greater emphasis on processing and manufacturing, stressing that Nigeria must increasingly export finished products rather than raw materials.
Delivering the keynote address, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, MFR, said Nigeria must focus not only on increasing export volumes but also on retaining a larger share of the value generated from its exports.
Oduwole said the Federal Government was working to improve domestic competitiveness, expand processing capacity, connect Nigerian businesses to larger markets and strengthen the financing, infrastructure and trade systems required for exporters to scale.
She noted that Nigeria’s role in the AfCFTA, including its position as a digital trade co-champion, presented opportunities for Nigerian businesses to expand across the continent.
The Minister urged financial institutions to move beyond financing individual export transactions to financing the broader capabilities required by businesses to become globally competitive.
Also speaking, the Chair of the Board of Directors of the Fund for Export Development in Africa (FEDA) and immediate past President and Chairman of Afreximbank, Professor Benedict Oramah, GCON, said Africa needed a fundamental rethink of its approach to trade, industrialisation and economic development.
Oramah argued that the continent must strengthen internal demand, participate more effectively in global supply chains and develop the capacity to finance its own trade and industries.
The Founder and Executive Chair of Plot Enterprise Ghana Limited, Mrs Patricia Poku-Diaby, similarly stressed the importance of value addition, saying the future of African economies would depend increasingly on their ability to transform raw materials into finished and branded products.
Representing the UK Minister of State at the Ministry of Housing, Communities and Local Government, Rt. Hon. Florence Eshalomi, MP, Ms Mujina Kaindama, Head of Trade Policy for UK Business, Innovation, Science and Trade, described Nigeria-UK trade relations as an area of significant potential.
She encouraged Nigerian businesses to move higher up the value chain by processing raw materials and developing branded agricultural and manufactured products capable of attracting greater returns in international markets.
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 the AfCFTA would ultimately depend on the ability of African businesses to use the agreement to access new markets, expand investments and increase productive capacity while creating jobs across the continent.
The seminar also featured public and private sector panel sessions focusing on trade facilitation, customs efficiency, logistics, financing, product certification, market intelligence, competitiveness and value addition.
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 other stakeholders.
The private sector session featured business leaders from companies including 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 dialogue, advocacy and practical solutions to Nigeria’s non-oil export challenges.
The 2026 edition, streamed across Zoom, YouTube, Instagram, Facebook, X and TikTok, attracted participants from 97 countries, reinforcing the growing international interest in Nigeria’s trade and export potential.