Participants at a townhall meeting held by the Bankers’ Committee and the Central Bank of Nigeria (CBN) in Lagos, yesterday, emphasised the urgent need to reposition Nigeria as an export-driven economy.
  According to them, the focus must be on building a robust local manufacturing base capable of producing competitive goods for the global market.
 Speaking on the event’s theme, ‘Enhancing the Competitiveness of Nigerian Products’, the stakeholders lamented Nigeria’s extremely-low exporter base with just 1,000 active exporters in oa population exceeding 200 million.
  This imbalance, they noted, is a critical obstacle to economic growth and must be addressed through coordinated strategies.
  Group Head of Digital Banking, Globus Bank, Dr Chinyere Tony-Eke, underscored the necessity of shifting the country’s economic model toward export dependency.
 Tony-Eke stressed the importance of policy alignment, capacity building, and stakeholder collaboration in driving Nigeria’s transformation into a competitive, export-oriented economy.
 She stated that for Nigeria to gain a competitive edge internationally, there must be structured engagements between the government, individuals, and the private sector to push the export agenda forward.
  According to her, targeted capacity-building efforts must be directed at both companies and individuals, particularly those in local communities, with the goal of equipping them to take advantage of export opportunities.
  She added that everyone across the export value chain must be trained and involved, highlighting that while awareness of export opportunities exists, the real barrier is access and the know-how required to break into that space.
 Head of Energy and Infrastructure at Stanbic IBTC Bank, Richards Inegbedion also stated that Nigerian manufacturers must integrate digital tools into their operations.
  He explained that such digital adoption is essential for identifying markets, understanding competitive advantages, and ensuring access to both raw materials and finished goods.
 Inegbedion also emphasised that businesses need to assess opportunities and challenges clearly and compare Nigeria’s comparative advantage in various sectors to thrive in the international arena.
 Also speaking at the event, Group Head of International Operations at Polaris Bank, Ayotunde Adesanya pointed out that creating a supportive regulatory environment is fundamental to enhancing the competitiveness of Nigerian products.
 She pointed out the importance of liberal policies that encourage export growth and stressed the need for the Central Bank of Nigeria (CBN) to take a more proactive and omnipresent role in supporting the export ecosystem.
  Adesanya also stated that while banks are prepared to finance and promote exports, there us need for appropriate regulations to mitigate bottlenecks capable of undermining their efforts.
 Lead Consultant at 3T Impex Consulting, Dr Dele Ayomibo, said the real key in making Nigeria more export driven lies in demonstrating export-readiness and building investor confidence through a clear track record and strategic clarity.
 According to him, investors are primarily interested in the viability and profitability of a venture.
 To convince them, he pointed out that exporters must first show that they have experience in the business.
  “This reassures potential backers that the entrepreneur understands the terrain and has navigated the export landscape before. Second, there must be evidence that the exporter understands the risks involved and has a plan in place to manage or mitigate them effectively.”
 He pointed out that starting small with one or two export products is a practical approach, adding that with early investor support and demonstrated success, exporters can gradually expand their portfolio using self-generated capital in the future.
