Zenith Bank has challenged Nigerian exporters and businesses to stop shipping out raw commodities and start making more money by adding value to what the country produces.
The call was made on Tuesday, August 25, 2026, at the bank’s 10th International Trade Seminar on Non-Oil Export, held virtually under the theme, “Unlocking Value and Harnessing Growth.”
The seminar brought together government officials, regulators, exporters, manufacturers, investors and development partners to examine how Nigeria can turn its growing non-oil export figures into bigger economic gains.
Zenith Bank Group Managing Director, Dame Adaora Umeoji, said Nigeria’s non-oil exports hit a record $6.1 billion in 2025, up from $5.46 billion in 2024 and just $612 million a decade ago.
She, however, stressed that the country must go beyond exporting raw materials and focus on processing, manufacturing and developing Nigerian brands for international markets.
Umeoji said Zenith Bank was supporting exporters through initiatives linked to the African Continental Free Trade Area (AfCFTA), including the development of the SMARTAfCFTA portal and integration with the Pan-African Payment and Settlement System.
Industry, Trade and Investment Minister, Jumoke Oduwole, also urged businesses to take advantage of Africa’s huge market by improving productivity, quality and skills.
She said the real challenge was no longer simply exporting more, but retaining more value in Nigeria from what the country exports.
Former Afreximbank President, Professor Benedict Oramah, said Africa must develop stronger internal markets, finance its own trade and industries, and build capacity to compete effectively in global supply chains.
Patricia Poku-Diaby, Executive Chair of Plot Enterprise Ghana Limited, echoed the call, saying Nigeria’s economic future would depend not merely on what it grows or mines, but on what it transforms into finished products.
The AfCFTA Secretary-General, Wamkele Mene, said the success of the continental trade agreement would ultimately depend on African businesses using the platform to expand production, reach new markets and create jobs.
The seminar also featured public- and private-sector discussions on trade barriers, customs procedures, logistics, export financing, product certification and market access.
Launched in 2015, Zenith Bank’s International Trade Seminar has become an annual platform for discussions on expanding Nigeria’s non-oil export sector.
The 2026 edition attracted participants from 97 countries, with the bank reaffirming its commitment to providing Nigerian businesses with the finance, partnerships and market opportunities needed to compete globally.
