Bennett Oghifo
Wema Bank has reinforced its commitment to empowering Nigerian businesses for global competitiveness with the successful completion of a two-day Export Trade Academy.
The training held in Lagos equipped over 500 business owners with the knowledge, skills, and resources required to participate more effectively in international trade.
It was the second edition of the Wema Export Trade Academy (WETA).
The programme brought together exporters, small and medium enterprises (SMEs), commodity aggregators, trade associations, regulators, and professionals in intensive practical sessions focused on helping Nigerian business owners understand and navigate the realities of the export market, from identifying viable opportunities and meeting international buyer expectations to documentation, compliance, financing, logistics, and risk management.
During the two-day programme, participants were taken through critical areas of the export journey by experienced international trade professionals, including 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 businesses and professionals actively involved in international trade.
Speaking on the significance of the programme, Deputy Managing Director, Wema Bank Plc, Oluwole Ajimisinmi, said Nigeria had enormous entrepreneurial potential and businesses with products that could compete successfully in markets beyond Nigeria’s borders.
Ajimisinmi said what was often lacking was the right combination of knowledge, access, financing, and partnerships.
According to him, “At Wema Bank, 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 and our ambition is to create a platform that helps businesses understand the export ecosystem, connect with the right stakeholders, and build the capacity required to participate sustainably in international trade.”
Speaking on the impact of the academy, Deputy Director at NAFDAC, Oluseyi Sanyaolu, emphasised the importance of understanding the processes and regulatory requirements involved in taking Nigerian products to international markets.
Sanyaolu stated, “For businesses looking to take their products to international markets, understanding the processes, regulatory requirements, and institutions involved is critical to ensuring that their products meet the required standards. This is why initiatives like the Wema Export Academy are important, because they equip businesses with the knowledge and guidance needed to navigate the export journey and compete more confidently in global markets.”
For participants, the programme also provided an opportunity to reassess their businesses through the lens of international trade and better understand what would be required to take locally developed products and services into new markets.
One of the participants, Dele Badejo, an importer exploring opportunities within the export market, described the programme as an important step in understanding the opportunities available to Nigerian businesses seeking to diversify into export.
Divisional Executive, Wema Bank, Tajudeen Bakare, spoke on the continuity of the engagement.
Bakare stated, “Our intention is not to end this engagement with the participating businesses at the completion of the academy. We are not training and leaving them to navigate the journey alone.
“The goal is to continue to work with them, understand what they require at different stages, and provide the relevant financial and non-financial support that can help them grow. For us, this is the beginning of a partnership.”
For Wema Bank, the Export Trade Academy represents a broader approach to SME development that goes beyond providing financial products, to building the capacity businesses require to grow.
The successful completion of the second edition of WETA builds on the bank’s wider international trade agenda to nurture businesses and aspiring exporters through the different stages of international trade.
Through initiatives, such as WETA, Wema Bank continues to position itself as a partner to Nigerian businesses across different stages of growth, supporting SMEs to strengthen their operations locally, while building the knowledge, capacity, and connections required to compete globally.