Zenith Bank has emphasized the need for value addition to Nigeria’s non-oil export products, calling for concerted efforts to process them into semi-finished and finished goods for significant economic benefits. This call was made during the 9th Annual Zenith Bank International Trade Seminar, themed “Nigerian Non-Oil Export Industry: Awakening the Giant,” held on Wednesday, September 4, at the Civic Centre, Victoria Island, Lagos, and virtually.
In her opening remarks, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, highlighted the role of non-oil exports as a driver for job creation. “Our theme ‘Awakening the Giant’ reflects the untapped potential within the non-oil sector and how we can optimize it,” she said. Umeoji emphasized the importance of increasing the volume of exportable non-oil products and adding value to them. According to her, doing so would lead to more business opportunities for exporters, higher foreign exchange earnings, and job creation for Nigerian youths, who make up 60% of the country’s population.
Secretary of the National Action Committee on AfCFTA, Mr. Segun Awolowo, delivered the keynote address, commending Zenith Bank’s efforts to stimulate growth in the non-oil export industry. He underscored the need to scale production and add value to high-potential export products across solid minerals, agriculture, and petrochemicals, while also leveraging the services sector to further diversify the economy.
Similarly, Alhaji Abba Bello, Managing Director of the Nigerian Export-Import Bank (NEXIM), stressed the significance of promoting the export of services, noting that the services sector contributes over 50% to Nigeria’s GDP. He advocated for strategic frameworks to complement government programs aimed at empowering Nigerian youths to drive growth in ICT and creative industries exports.
Representatives from Lagos, Kano, and Zamfara states, including Lagos State Governor Babajide Sanwo-Olu and Kano State Governor Engr. Abba Kabir, also shared their insights on how non-oil export diversification, especially in agro-processing and mining, can transform Nigeria’s economic landscape.
Since launching the Non-Oil Export Seminar in 2015, Zenith Bank remains committed to promoting Nigeria’s non-oil export sector, identifying opportunities, and offering financial products and incentives to boost the industry’s growth.
Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple’s Bite International Magazine.
