From Moshood Karim
Stakeholders at the 9th Annual Zenith Bank International Trade Seminar have unanimously urged for intensified efforts to add value to Nigeria’s non-oil export products by processing them into semi-finished and finished goods.
The seminar, themed “Nigerian Non-oil Export Industry: Awakening the Giant,” was held on Wednesday, September 4, 2024, at the Civic Centre in Lagos, with virtual participation.
Dr. Adaora Umeoji, Group Managing Director/CEO of Zenith Bank Plc, stressed the potential of the non-oil export sector in her welcome address, highlighting its capacity to generate employment for Nigerian youths and increase foreign exchange earnings.
“Increasing the number and volume of exportable non-oil products implies more business for exporters and more foreign exchange earnings for our country,” she said.
Segun Awolowo, Secretary of the National Action Committee on AfCFTA, delivered the keynote address, praising Zenith Bank for its commitment to exploring opportunities in Nigeria’s non-oil export industry.
He voiced the need to focus on sectors such as solid minerals, agriculture, and petro-chemicals, while aiming for Nigeria to capture at least 5% of global trade and export volumes. Awolowo also pointed out the significant role of the services sector in Nigeria’s economic diversification.
Abba Bello, Managing Director of Nigerian Export Import Bank (NEXIM), called for more support for the export of services, particularly within the ICT and creative industries. He referenced the government’s $620 million Digital and Creative Enterprise (IDiCE) program, which is designed to empower youth and boost exports in these sectors.
Governor Babajide Sanwo-Olu of Lagos State, represented by Commissioner Folashade Ambrose-Medebem, stressed the state’s efforts to boost non-oil exports through value addition, particularly in agricultural products like cocoa and cashew nuts.
He stated that Lagos aims to transform into a global manufacturing hub, with “made-in-Lagos” products exported worldwide.
Governor Abba Kabir of Kano State, represented by Usman Bala Muhammad, emphasized Kano’s role in agricultural exports and called for value addition in agro-processing to enhance job creation and local consumption.
Similarly, Governor Dauda Lawal of Zamfara State, represented by Abdullahi Bello Auta, urged stakeholders to explore untapped potential in the mining sector, noting Zamfara’s abundance of solid minerals.
The seminar, launched by Zenith Bank in 2015, continues to play a key role in promoting Nigeria’s non-oil export sector by identifying emerging opportunities and developing financial products to support the industry.
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