The Nigerian Export-Import (NEXIM) Bank has disclosed that the South-West region accounts for about 60 per cent of the total value of non-oil export in the country.
Managing Director/Chief Executive of NEXIM Bank, Abba Bello, disclosed this at the Lagos edition of the Export Readiness & Market Access Excel Programme themed ‘Empowering MSMEs for Export Opportunities’ on Wednesday.
Bello, who was represented by the Head of the Lagos Regional Office, Daniella Jarikre-Ikazoboh, while speaking at the programme, jointly organised by NEXIM Bank and its partner, GIZ, pointed out that MSMEs form the backbone of modern economies.
He said: “In Nigeria, over 41 million MSMEs account for nearly 97 per cent of registered businesses, contributing close to 48 per cent of GDP and employing almost 88 per cent of our workforce. Yet, they continue to face challenges such as limited access to affordable finance, weak infrastructure, and capacity gaps that often threaten their survival. These are precisely the challenges the EXCEL Programme seeks to address.
“The Excel Programme was conceived as a transformative platform to identify, strengthen, and finance export-ready MSMEs through digital tools, targeted capacity building, and tailored financing. Excel empowers small businesses to scale operations, enhance product quality, and access regional and international markets in line with NEXIM Bank’s mandate to promote non-oil export diversification and inclusive trade.”
Continuing, the managing director noted that: “The South-West region, anchored by Lagos as its commercial hub, accounts for about 60 per cent of Nigeria’s non-oil exports. The region’s industrial clusters spanning pharmaceuticals, agro-processing, solid minerals, fashion, film, music, digital innovation, and fintech showcase the creativity and enterprise that define Nigeria’s economic future. Through Excel, NEXIM Bank aims to strengthen these value chains and move enterprises from primary production to value-added export in line with our produce-added-value-and-export philosophy.”
He said the programme seeks to address the challenges facing Nigeria’s Micro, Small, and Medium Enterprises when it comes to export trade.
Three weeks ago, President Bola Tinubu, in his Independence Day speech, revealed that Nigeria has achieved record-breaking revenue from non-oil exports, achieving the 2025 target by August with over N20 trillion while in September 2025 alone, N3.65trillionn, 411 per cent higher than the amount raised in May 2023, was realised.
According to Bello, beyond the Excel programme, NEXIM Bank offers targeted facilities such as the SME Export Facility and the Women and Youth Export Facility to support inclusive participation in trade.
“Lagos remains the creative heartbeat of Africa, and with its selection as the host for the Intra-African Trade Fair IATF 2027, there is no better time for Nigerian SMEs to position themselves for continental growth. Initiatives like Excel will ensure that Nigerian businesses are well prepared to seize emerging opportunities,” he added.
Also, speaking at the event, the cluster coordinator of the Sustainable Economic Development Cluster of GIZ Nigeria, ECOWAS, Dr. Didier Djoumessi, who was represented by Sina Uti-Waziri, the Head of Component, Access to Market & Innovation/Access to Finance, stressed the importance of capacity building and finance.
Acting Regional Coordinator of the NEPC South West office, Mrs. Bolanle Emmanuel, who represented the Executive Director/Chief Executive Officer of the Nigerian Export Promotion Council, Nonye Ayeni, urged the business owners at the event to prepare to tap the opportunities in the export market.
