Zenith Bank Hosts 10th International Trade Seminar to Boost Nigeria’s Non-Oil Exports

Zenith Bank Plc held its 10th International Trade Seminar on Non-Oil Export on Tuesday, 25 August 2026. This event marks ten years of pushing for Nigeria’s economy to diversify. The virtual seminar brought together policymakers, regulators, exporters, manufacturers, investors and development partners from across Africa and beyond. They all focused on one key issue: how Nigeria can make more money from its exports.

The seminar, themed "Unlocking Value and Harnessing Growth", looked at how Nigeria can move from simply exporting raw materials to creating competitive value chains. It also discussed improving trade infrastructure and financing, plus increasing the sector's role in Nigeria’s economic growth.

Adaora Umeoji, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, kicked off the event with a welcome speech. She praised the Bank’s Founder, Dr Jim Ovia, who started the seminar in 2015. She urged everyone to turn Nigeria’s rising export figures into lasting economic benefits.

Umeoji said, "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.

The Nigerian Export Promotion Council reported that Nigeria’s non-oil exports hit a record $6.1 billion in 2025. This is an increase of 11.5 percent from $5.46 billion in 2024 and a huge jump from $612 million ten years ago. Umeoji mentioned that through a partnership with the African Continental Free Trade Area Secretariat, they have started developing the SMARTAfCFTA portal. She added that the Pan-African Payment and Settlement System is making cross-border trade easier for their customers. "Wherever our exporters need to reach, Zenith Bank will reach with them."

She praised President Bola Ahmed Tinubu for making structural reforms that support businesses. She also thanked the Central Bank of Nigeria, led by Governor Olayemi Cardoso, for reforms that have helped stabilize foreign exchange and build market confidence. "As we build on the progress recorded so far," she continued, "it is important that, as a nation, we accelerate growth by creating more value locally and exporting finished products, rather than just raw materials."

During her keynote address, Jumoke Oduwole, the Honourable Minister of Industry, Trade and Investment, called for stronger trade and investment reforms. She said there is a need for a better export environment and more 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 stated.

"Our focus at the Ministry is straightforward: produce more competitively in Nigeria, process more in Nigeria, connect Nigerian businesses to bigger markets, and ensure that the financing, infrastructure and trade systems exist to help them scale. I see at first hand that the opportunity before us goes beyond the size of the African market of over 1.4 billion people and approximately $3.4 trillion in GDP."

She added, "It is about enabling Nigerian firms to sell more products, reach more markets and deepen regional value chains. Nigeria’s role as an AfCFTA digital trade co-champion further positions us to help shape how this market evolves."

Oduwole urged financial institutions to focus not just on financing exports but on building export capacity. She encouraged Nigerian businesses to invest in productivity, quality and skills to prepare for intra-African trade.

Professor Benedict Oramah, Chair of the Board of Directors of the Fund for Export Development in Africa (FEDA), spoke about the need for fresh ideas. "The theme chosen for this 10th edition is both apt and timely," he said. "The global economy is experiencing unprecedented levels of entropy. I do not raise this to alarm us. I raise it because a unique opportunity lies ahead of us that may well pave the way to Africa’s ascendance."

He explained, "The question is no longer whether Africa can attract enough external capital and external demand to power its growth. The question is whether Africa, and Nigeria within it, can build her own internal demand, participate effectively in global supply chains, and create her own markets." He applauded Zenith Bank for its work in promoting Nigeria’s non-oil exports over the past decade.

Mrs Patricia Poku-Diaby, Founder and Executive Chair of Plot Enterprise Ghana Limited, made her case clear. "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. "We need to move from being suppliers of raw materials to becoming producers, processors, manufacturers, exporters and owners of strong African brands."

The UK Minister of State at the Ministry of Housing, Communities and Local Government, Hon Florence Eshalomi, MP, represented by Ms Mujina Kaindama, Head of Trade Policy for UK Business, praised the Bank for the platform. "The trade relationship between the United Kingdom and Nigeria is one of immense importance and even greater potential," she said. "One of the most promising opportunities lies not simply in increasing exports, but in increasing the value of those exports: moving further up the value chain, processing raw materials, developing branded products and creating higher-value manufactured and agricultural goods."

Wamkele Mene, Secretary-General of the African Continental Free Trade Area Secretariat, emphasized the role of the private sector in Africa’s economic change. "The private sector is at the heart of the fundamental restructuring of Africa’s economy," he said. "The seminar Zenith Bank has convened strikes at the heart of that objective: reducing reliance on unprocessed commodities and speeding up industrialization."

The seminar included two panel discussions. The public sector panel featured important figures like Mr Abubakar Bello, Managing Director of the Nigerian Export-Import Bank (NEXIM), along with several others. They discussed improving trade facilitation, customs efficiency and exporters’ access to funding.

The private sector panel included leaders like Adeniji Adeyemi, MD/CEO of Starlink Global & Ideal Limited, and others. They addressed trade barriers, value creation and the financing needed to grow non-oil exports.

The Zenith Bank International Trade Seminar on Non-Oil Export started in 2015 to encourage discussions and actions around Nigeria’s non-oil export potential. Ten years later, the Bank is still pushing for growth in this sector by opening market opportunities and supporting exporters with financing and practical help.

The 2026 edition was streamed live on Zoom, YouTube, Instagram, Facebook, X and TikTok, attracting thousands of participants from 97 countries. The tenth edition wrapped up as it began a decade ago, with a commitment to equip Nigerian businesses with the tools they need to compete in both local and global markets.