Zenith Bank Plc has rallied policymakers, regulators, exporters, manufacturers, investors and development partners to accelerate value addition in Nigeria’s non-oil export sector, as it hosted the 10th edition of its International Trade Seminar on Non-Oil Export.

The virtual seminar, held on Wednesday,  August 26, 2026, with the theme “Unlocking Value and Harnessing Growth,” marked a decade of the bank’s advocacy for economic diversification and sought practical solutions to enable Nigeria to earn greater value from products exported to international markets.

The event brought together stakeholders from Nigeria, Africa and beyond to examine strategies for moving the country away from the export of raw commodities towards processing, manufacturing, stronger value chains, improved trade infrastructure and better access to export financing.

In her welcome address, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, paid tribute to the bank’s Founder, Dr. Jim Ovia, CFR, whose vision led to the establishment of the seminar in 2015.

Umeoji noted that Nigeria’s non-oil exports reached a record $6.1 billion in 2025, representing an 11.5 per cent increase over the $5.46 billion recorded in 2024 and a significant rise from the $612 million recorded a decade earlier.

She said the challenge before the country was to translate the growth in export figures into sustainable economic value by encouraging the production and export of processed and finished goods.

“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,” she said.

The Zenith Bank CEO also highlighted the bank’s partnership with the African Continental Free Trade Area (AfCFTA) Secretariat on the development of the SMARTAfCFTA portal, as well as its integration with the Pan-African Payment and Settlement System, which she said would make cross-border transactions easier for customers.

She commended President Bola Ahmed Tinubu for economic reforms aimed at creating a more enabling environment for businesses and praised the Central Bank of Nigeria, under Governor Olayemi Cardoso, for measures she said had contributed to improved foreign exchange stability and market confidence.

Umeoji urged stakeholders to intensify efforts to create value locally, stressing that Nigeria must move beyond the export of raw materials.

Delivering the keynote address, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, MFR, called for deeper trade and investment reforms, improved export conditions and wider access to African and international markets.

Oduwole said the central question should no longer be simply how Nigeria can increase its export volume, but how much value the country can retain from what it exports.

According to her, the Federal Government’s priority is to strengthen domestic production, expand processing capacity, connect Nigerian businesses to larger markets and provide the financing, infrastructure and trade systems required for businesses to scale.

She noted that Nigeria’s position within AfCFTA provides a major opportunity for local companies to expand across the continent, particularly as the agreement opens access to a market of more than 1.4 billion people and an economy estimated at approximately $3.4 trillion.

The minister, who said she assumed the chairmanship of the AfCFTA Council of Ministers in July, also pointed to Nigeria’s role as an AfCFTA digital trade co-champion, describing digital trade as a new avenue for Nigerian businesses to reach customers across Africa.

She challenged financial institutions to move beyond financing individual export transactions to financing the broader capabilities required by exporters, including productivity, quality and skills development.

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 must embrace new thinking if it is to take full advantage of emerging economic opportunities.

Oramah said the continent must focus on developing internal demand, participating more effectively in global supply chains, building capacity to finance its own trade and industries, and creating stronger markets.

He commended Zenith Bank for sustaining its non-oil export advocacy over the past decade, describing the theme of the 10th edition as timely given the changing global economic environment.

Founder and Executive Chair of Plot Enterprise Ghana Limited, Mrs Patricia Poku-Diaby, stressed the importance of transforming raw materials before they leave African shores.

She argued that Africa must transition from being primarily a supplier of raw materials to becoming a continent of producers, processors, manufacturers and exporters with strong home-grown brands.

According to her, greater emphasis on processing and manufacturing would enable African economies to capture more value, generate employment and strengthen their competitiveness in global markets.

The UK Minister of State at the Ministry of Housing, Communities and Local Government, Rt. Hon. Florence Eshalomi, MP, represented by Ms Mujina Kaindama, Head of Trade Policy for UK Business, Innovation, Science and Trade, also highlighted the enormous potential in Nigeria-UK trade relations.

She said Nigerian businesses could unlock greater returns by moving up the value chain, processing raw materials and developing branded agricultural and manufactured products.

The Secretary-General of the AfCFTA Secretariat, His Excellency Wamkele Mene, placed the private sector at the centre of efforts to transform Africa’s economy.

Mene said the success of AfCFTA would ultimately depend not merely on the number of protocols and legal instruments adopted, but on the ability of African businesses to use the agreement to access new markets, expand investments and increase productive capacity.

He said reducing dependence on unprocessed commodities and accelerating industrialisation and value addition would be critical to creating jobs and achieving sustainable growth across the continent.

The seminar featured two major panel discussions involving leading public and private sector stakeholders.

The public sector panel included representatives of the Nigerian Export-Import Bank (NEXIM), Nigeria Customs Service, Nigerian Ports Authority, Central Bank of Nigeria, Nigerian Export Promotion Council and Neroli Technologies.

Discussions focused on improving trade facilitation, customs efficiency, logistics, export advocacy and access to funding for businesses engaged in non-oil exports.

The private sector panel brought together executives from 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 panellists examined some of the major challenges confronting exporters, including trade barriers, product certification, competitiveness, market intelligence, value creation and access to structured financing.

97 countries participate

Launched in 2015, the Zenith Bank International Trade Seminar on Non-Oil Export has become a major platform for discussions around Nigeria’s export diversification agenda.

The 2026 edition was streamed live across Zoom, YouTube, Instagram, Facebook, X and TikTok, attracting thousands of participants from 97 countries.

At the close of the 10th edition, participants renewed calls for stronger collaboration between government, financial institutions and the private sector to provide Nigerian businesses with the capital, infrastructure, market access and technical support required to compete effectively in regional and global markets.

The seminar also reaffirmed Zenith Bank’s commitment to supporting Nigeria’s transition from a raw-material exporting economy to one driven by value-added production, industrialisation and competitive African brands.