Wema Bank has strengthened its support for Nigerian businesses seeking to compete in international markets with the successful completion of the second edition of its Export Trade Academy (WETA), which equipped more than 500 business owners with practical knowledge and resources for global trade
Held in Lagos, the two-day programme brought together exporters, SMEs, commodity aggregators, trade associations, regulators and international trade professionals to examine the opportunities and challenges involved in exporting Nigerian products and services
Participants received practical guidance on identifying viable export opportunities, meeting international buyer requirements, documentation, regulatory compliance, financing, logistics and risk management
Experts from the Central Bank of Nigeria (CBN), Nigerian Export Promotion Council (NEPC), Nigerian Customs Service (NCS), Nigerian Ports Authority (NPA) and National Agency for Food and Drug Administration and Control (NAFDAC), alongside private-sector practitioners, led sessions during the academy
Speaking on the programme, Wema Bank’s Deputy Managing Director, Oluwole Ajimisinmi, said Nigeria had significant entrepreneurial potential and businesses capable of competing successfully beyond the country’s borders
He said access to knowledge, financing, partnerships and the right connections remained critical to unlocking that potential
“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,” Ajimisinmi said
He added that WETA was designed to help businesses understand the export ecosystem, connect with relevant stakeholders and develop the capacity required to participate sustainably in international trade
Deputy Director at NAFDAC, Oluseyi Sanyaolu, stressed the importance of understanding regulatory requirements when taking Nigerian products into international markets
He said businesses needed to ensure their products met required standards and comply with relevant processes, describing initiatives such as WETA as important in helping exporters navigate the international trade environment
Participants also used the programme to assess their businesses from a global-market perspective Dele Badejo, an importer exploring export opportunities, described the academy as valuable in helping businesses understand how to diversify into international markets.
Wema Bank Divisional Executive, Tajudeen Bakare, said the bank’s engagement with participants would continue beyond the academy
“Our intention is not to end its engagement with the participating businesses at the completion of the Academy We are not training and leaving them to navigate the journey alone,” he said.
According to Bakare, the bank would continue to understand the needs of participating businesses and provide relevant financial and non-financial support as they grow
The second edition of WETA forms part of Wema Bank’s broader SME and international trade strategy, aimed at building the capacity of Nigerian businesses while supporting their transition from local operations to participation in global markets