Zenith Bank's 10th Non-Oil Export Seminar highlights Nigeria's $6.1B export milestone, launches SMARTAfCFTA portal for easier cross-border trade
Zenith Bank hosted its 10th International Trade Seminar on Non-Oil Export yesterday (August 25, 2026) under the theme "Unlocking Value and Harnessing Growth," marking a decade of advocacy for Nigeria's economic diversification. The virtual event revealed Nigeria's non-oil exports hit a record $6.1 billion in 2025—up 11.5% from 2024 and nearly tenfold from $612 million a decade earlier.
Through its partnership with the African Continental Free Trade Area Secretariat, Zenith Bank has developed the SMARTAfCFTA portal and integrated with the Pan-African Payment and Settlement System, making cross-border business easier for Nigerian exporters. Speakers including Industry Minister Jumoke Oduwole and Afreximbank's Benedict Oramah urged shifting from raw material exports to local value addition—processing, manufacturing, and branding products before export—to capture more economic value domestically.
The seminar, streamed across Zoom, YouTube, Instagram, Facebook, X and TikTok to thousands from 97 countries, featured panels on trade barriers, financing, and value chain development. Zenith Bank MD Adaora Umeoji emphasized translating improved export numbers into sustainable economic value, while UK Minister Florence Eshalomi highlighted opportunities in higher-value manufactured and agricultural goods for the UK-Nigeria trade relationship.
Will Nigerian businesses adopt these digital tools and shift toward value-added exports to maximize returns from Africa's $3.4 trillion AfCFTA market, or continue relying on raw material sales with limited local economic impact?