500 SMEs Trained In Export Readiness To Boost Non-oil Earnings

Wema Bank Plc has trained over 500 business owners on export trade as part of efforts to equip Nigerian businesses for global competitiveness and boost non-oil exports.

The capacity-building programme, the second edition of the Wema Export Trade Academy (WETA), was held in Lagos and brought together exporters, SMEs, commodity aggregators, trade associations and regulators for intensive practical sessions on navigating the export market.

Participants were taken through critical areas of the export value chain, from identifying viable opportunities and meeting international buyer expectations to documentation, compliance, financing, logistics and risk management.

Facilitators included experts from the Central Bank of Nigeria (CBN), Nigerian Export Promotion Council (NEPC), Nigerian Customs Service (NCS), Nigerian Ports Authority (NPA), National Agency for Food and Drug Administration and Control (NAFDAC), as well as private sector players actively involved in international trade.

Speaking on the initiative, the deputy managing director of Wema Bank, Oluwole Ajimisinmi, said Nigeria has enormous entrepreneurial potential with products that can compete globally, but businesses often lack the right combination of knowledge, access, financing and partnerships.

“We recognise that the potential of Nigerian businesses in global trade can only be fully realised when they have access to the right knowledge, the right connections, and the right financial support. WETA brings these critical elements together,” he said.

Deputy director at NAFDAC, Oluseyi Sanyaolu, said understanding regulatory requirements is critical for Nigerian products to meet international standards, adding that initiatives like WETA help businesses compete more confidently.

One of the participants, Dele Badejo, an importer exploring export opportunities, described the programme as an important step in understanding diversification prospects.

Divisional executive at Wema Bank, Tajudeen Bakare, said the Bank’s engagement would continue beyond the training to provide financial and non-financial support as businesses progress through different export stages.