Sterling Bank Limited has accelerated its push to transform Nigeria’s non-oil export sector by hosting a series of nationwide training programs across Lagos, Ondo, and Kano states. The initiative, which recently culminated in a grand finale event in Lagos themed “Excel in Non-Oil Export,” aims to empower exporters with practical knowledge and tools to thrive in global markets and reduce Nigeria’s dependence on foreign exchange from oil revenues.
Addressing participants at the event, Sterling Bank’s Managing Director and CEO, Abubakar Suleiman, reaffirmed the bank’s strategy to achieve FX resilience through a diversified export base. “We realized that as long as the country relies on oil to import goods and services, it will never achieve foreign exchange independence,” Suleiman said.
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“Nigeria’s wealth lies in our people and potential. We must build products for the world, not just extract oil from the ground.” Mr. Suleiman described the program’s reception as a clear signal that Nigerian entrepreneurs are eager for the knowledge to scale globally.
Supporting this vision, Mr Akporee Idenedo, Sterling Bank’s Divisional Head of Commercial Banking, described the campaign as a movement that reflects the depth of innovation across Nigeria’s value chains. He emphasized the bank’s continued investment in the HEART sectors, Healthcare, Education, Agriculture, Renewable Energy, and Transport.
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“This is a call to action, for Nigeria to lead as an export-driven economy,” Idenedo said, pointing to the sector’s potential to curb inflation, reduce unemployment, and stabilize foreign exchange.
In a keynote address, ‘Biodun Adedipe, Principal Consultant at BAA Consult, provided encouraging projections for Nigeria’s export capacity. Citing IMF and Afreximbank data, he noted that African trade is expected to outpace GDP growth over the coming years.
Dr Adedipe praised Nigeria’s $5.456 billion non-oil export achievement in 2024, attributing it to improved macroeconomic stability, reforms, and initiatives like Sterling’s. He urged exporters to adopt export-led growth models that improve liquidity, hedge currency risks, and increase resilience in volatile economies.
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A major highlight of the event was the launch of the Sterling Bank Non-Oil Export Academy, a platform designed to bridge the knowledge divide and position Nigerian exporters for global competitiveness. To register for the Sterling Non-Oil Export Academy, interested exporters can visit: www.sterling.ng/exportnow to register. About Sterling Bank Sterling Bank is a forward-thinking financial institution committed to transforming lives through
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