Polaris Bank Enhances MSMEs’ Knowledge About Non–oil Export Ecosystem

Polaris Bank has reaffirmed its strategic commitment to strengthening Nigeria’s non-oil export ecosystem and empowering micro, small and medium-sized enterprises (MSMEs).

This commitment was highlighted during the recent Nigerian Aviation Handling Company (NAHCO) and Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) Export Group Programme, themed ‘Breaking Barriers: Helping SMEs Navigate Export Procedures for Agro Products and Other Commodities’.

The one-day event successfully brought together regulators, industry stakeholders, exporters, and trade bodies, aiming to develop tangible solutions that address trade barriers, finance accessibility, and foster a more resilient and diversified Nigerian economy.

A key highlight of the programme was the formal launch of the NACCIMA Export Group and the NAHCO Export Support Centre for MSMEs. These initiatives provide a structured platform that enables exporters to access vital trade facilitation services, logistics support, regulatory guidance, and financial solutions throughout the export value chain.

The executive director of Polaris Bank, Chris Ofikulu emphasized the necessity of coordinated efforts between public and private sectors to diminish Nigeria’s reliance on oil revenues, particularly in the areas of agro-exports and commodity trade.

“Expanding non-oil exports is essential for building a resilient, inclusive, and competitive Nigerian economy. SMEs, especially those involved in agro-exports and commodity trade, are pivotal in unlocking our country’s true potential. Polaris Bank is dedicated to providing the financial resources, advisory support, and partnerships that empower them to grow confidently and compete on a global scale,” Ofikulu stated.

The discussions also concentrated on overcoming structural challenges faced by exporters, such as infrastructure deficits, port inefficiencies, logistics constraints, standards and certification hurdles, and the need for policy consistency.

Participants called for enhanced public-private collaboration among government agencies, trade bodies, financial institutions, and logistics partners to streamline export procedures and improve access to markets for Nigerian SMEs.

The team lead for Trade Services at Polaris Bank, Olaleye Arinola reiterated the bank’s commitment to instilling confidence and reliability in the export process through effective financial and advisory support.

“Growth in exports is impeded by finance and payment obstacles. At Polaris Bank, we aim to smoothen international trade by ensuring that SMEs receive payments faster, safer, and with greater certainty through our efficient trade finance, secure cross-border payments, and comprehensive guidance on documentation, foreign exchange, and compliance,” Arinola explained.

As part of its collaboration with the business and trade community, Polaris Bank introduced a dedicated help desk for NACCIMA members, offering direct access to trade finance and payment support, expedited resolution of export-related inquiries, and tailored advisory services on foreign exchange documentation and regulatory compliance.

Polaris Bank remains committed to working closely with NAHCO, NACCIMA, and other stakeholders to enhance exporter capabilities, promote value addition in agro-exports and commodities, and unlock sustainable growth opportunities for Nigerian businesses in both regional and global markets.