As part of efforts to improve Nigeria’s non-oil export numbers, build exporters’ capacity and get them ready for international markets, stakeholders held a one-day conference in Lagos to not only address the challenges facing exporters but also proffer solutions to them.
Organised by the Nigerian Export Import Bank (NEXIM Bank), in partnership with GIZ and supported by Sustainable and Inclusive Economic Development for Decent Employment in Nigeria (SEDIN) Programme of GIZ Nigeria and ECOWAS; it was themed: ‘Export readiness and market accessExport readiness and market access Excel Program: Empowering MSMEs for export opportunities’ and drew participants from all sectors of the economy, women and youth trading groups and government agencies.
Speaking, Head, Lagos Regional Office, NEXIM Bank, Daniella Jarikre-Ikazoboh, said the bank aims to enhance access to finance for the country’s Micro, Small and Medium Enterprises (MSMEs), describing them as the bedrock of the economy and vital agents for sustainable growth and export diversification.
“Over 41 million MSMEs account for nearly 97 per cent of registered businesses, contributing roughly 48 per cent of the nation’s GDP and employing 88 per cent of our workforce. Yet they are burdened with heavy challenges, including limited access to affordable finance, weak infrastructure and capacity gaps that threaten their survival. These are what we seek to address,” she said. She added that through the bank’s academy, they are onboarding MSMEs onto the African Trade Gateway (ATG) for easier trading across the continent.
In her address, Head of Component-Access to Market and Innovation/Access to Finance, GIZ, Sina Uti-Waziri, said they are equipping MSMEs with not just knowledge but the needed finance to succeed in exports. She said that with finance, the right knowledge and access to the market, Nigerian MSMEs can thrive beyond the continent. Hailing local MSMEs as creative and resilient, she acknowledged the barriers to export they face, including meeting international standards and finding global export partners to partner with.
Pointing out that Nigerian goods are sought after internationally, she said international trading systems are changing with more countries now looking inwards. “However, opportunities abound despite the ongoing tariff and trade issues; other markets in Europe and Asia are opening up and looking for new partners, and this is where Nigerian MSMEs can step up and take advantage,” she said.
She said they intend to assist exporters in three ways: building their capacity to be export-ready, providing finance to women and youth-led enterprises and market linkage. Encouraging the exporters to step up their products and packaging, she said, stronger products mean better market access.
In her presentation, titled: ‘Expanding export opportunities and enhancing export readiness and market access for MSMEs’, Southwest coordinator, Nigerian Export Promotion Council (NEPC), Bolanle Emmanuel, stressed that they are striving to provide hands-on mentorship and training for exporters. She lamented that despite the country having roughly 42 million micro businesses and 74,000 small and medium enterprises, only 7.64 per cent export.
She noted that there are many non-oil products they support for export, including processed/manufactured goods, agricultural commodities, textile and garments, solid minerals, entertainment and services. Taking attendees on how to start an export business, she reminded them to work together with the council to achieve the desired goal of an export-thriving economy.
Head, specialised business, NEXIM Bank, Mohammed Awami, revealed the bank’s export finance offerings, including direct lending, interbank lending and managed funds, which he said are all readily available for exporters and urged them to take advantage.
Highlighting the importance of forming and being in clusters to aid export success, the president, Women in Export Trade and Investments (WETI), Efe Usin, said no individual can do it on their own, hence the need to come together to push exports.
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