Nigeria’s non-oil exports rose to a record $6.1 billion in 2025 as Zenith Bank Plc and key stakeholders in the trade sector called for increased value addition, improved financing and stronger access to African and global markets.
The call was made at the 10th edition of Zenith 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 annual seminar, launched in 2015, focuses on strategies to strengthen Nigeria’s non-oil export sector and reduce the country’s dependence on crude oil.
According to the Nigerian Export Promotion Council (NEPC), non-oil export earnings climbed by 11.5 per cent from $5.46 billion in 2024 to $6.1 billion in 2025. The figure represents a significant increase from the $612 million recorded in 2015.
Speaking at the event, Zenith Bank’s Group Managing Director and Chief Executive Officer, Dame Adaora Umeoji, said the growth demonstrated the impact of sustained advocacy and efforts to promote non-oil exports.
Umeoji also paid tribute to the bank’s Founder, Dr Jim Ovia, for initiating the International Trade Seminar a decade ago.
“Our theme 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.
She disclosed that Zenith Bank had partnered with the African Continental Free Trade Area (AfCFTA) Secretariat to develop the SMARTAfCFTA portal.
The bank has also integrated with the Pan-African Payment and Settlement System (PAPSS), a move aimed at simplifying cross-border payments and facilitating trade across Africa.
Umeoji commended the economic reforms of President Bola Ahmed Tinubu and the efforts of Central Bank of Nigeria Governor, Olayemi Cardoso, toward improving foreign exchange stability.
However, she stressed the need for Nigeria to move beyond exporting raw commodities by increasing local processing and producing finished goods for international markets.
Produce and Process More in Nigeria
Minister of Industry, Trade and Investment and Chair of the AfCFTA Council of Ministers, Dr Jumoke Oduwole, said Nigeria must focus on retaining more economic value from its exports.
She outlined four priorities for strengthening the country’s export competitiveness: producing more competitively, processing more products locally, connecting Nigerian businesses to larger markets, and addressing financing, infrastructure and trade-system challenges.
According to Oduwole, Africa’s market of about 1.4 billion people and a combined GDP of approximately $3.4 trillion presents significant opportunities for Nigerian businesses.
She said Nigeria’s position as an AfCFTA digital trade co-champion could enable the country to play a leading role in shaping how businesses trade across the continent.
The minister also urged financial institutions to move beyond financing individual export transactions and provide funding that would help businesses build sustainable export capacity.
Experts Call for Greater Value Addition
Former Afreximbank President and Chairman of the Fund for Export Development in Africa (FEDA), Prof. Benedict Oramah, said Africa must strengthen its domestic markets and increase its participation in global supply chains.
He challenged African countries to develop their own internal demand while creating stronger markets and increasing their contribution to global commerce.
Founder of Plot Enterprise Ghana, Patricia Poku-Diaby, stressed the importance of transforming raw materials into finished products.
She said African economies must move from being suppliers of raw materials to developing and owning strong African brands.
Representing the UK government, Mujina Kaindama also identified opportunities for Nigeria to move further up the value chain through branded, manufactured and agricultural products capable of generating jobs and increasing export earnings.
Meanwhile, AfCFTA Secretary-General Wamkele Mene said the success of the continental trade agreement would depend largely on the willingness of private-sector businesses to take advantage of the opportunities it provides.
He said AfCFTA would ultimately be judged by the ability of African businesses to access new markets, expand production and create jobs.
Stakeholders Outline Practical Steps
Two panel sessions at the seminar brought together government officials and private-sector leaders to discuss practical solutions to Nigeria’s export challenges.
Participants in the public-sector panel, including representatives of NEXIM, Nigeria Customs, the Nigerian Ports Authority, the CBN, NEPC and Neroli Tech, highlighted the need for faster customs clearance, improved trade facilitation, port and logistics reforms, and greater access to funding for exporters.
The private-sector panel, which featured executives from companies including Dangote Group, Starlink Global, Psaltry International and Lelook Nigeria, focused on removing trade barriers, improving product certification and quality standards, strengthening market intelligence and expanding access to structured financing.
Zenith Bank Marks a Decade of Export Advocacy
Zenith Bank launched its International Trade Seminar in 2015 as part of efforts to promote Nigeria’s non-oil export sector.
A decade later, the bank said it remains committed to supporting exporters through financing, incentives and improved market access.
The 2026 edition was streamed across Zoom, YouTube, Instagram, Facebook, X and TikTok, attracting participants from 97 countries.
The discussions reinforced a central message: Nigeria’s export future depends not only on producing more, but on processing commodities locally, building competitive brands and accessing larger markets.
With greater investment in value addition, financing and trade infrastructure, stakeholders believe the country’s record $6.1 billion in non-oil export earnings could mark the beginning of a much larger export economy.