Sterling Bank has announced the launch of its Non-Oil Export Academy, a specialised program aimed at delivering expert guidance and practical training to exporters looking to excel in Nigeria’s non-oil export sector. The initiative is part of Sterling Bank’s commitment to driving the expansion of Nigeria’s non-oil export industry.
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The academy serves as a comprehensive platform that brings together all stakeholders in the export value chain, including current and potential exporters, regulatory bodies, financial institutions, aggregators, manufacturers, and logistics companies. This collaborative approach is intended to foster meaningful dialogue, create strategic partnerships, and establish new pathways for Nigeria’s international trade objectives.
Nigeria finds itself at a critical juncture in its economic development. With international trade continuing to expand and growing global demand for diverse, high-quality products from emerging markets, the nation has a unique chance to expand its non-oil export capabilities and establish itself as a formidable player in the global supply chain.
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Recent data from Q4 2024 shows Nigeria’s total merchandise trade valued at ₦36.6 trillion, with exports representing more than half at ₦20 trillion.
Despite this substantial figure, crude oil maintains its dominance, representing 68.87% of all exports. The non-oil export sector remains significantly underexploited, accounting for merely 4.2% of the country’s total export earnings. Given the unpredictable nature of oil prices and declining petroleum revenues, diversifying Nigeria’s export portfolio beyond oil has become a critical economic imperative.
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Program Advantages
- The academy addresses this challenge by providing an integrated approach combining practical training with customised advisory support for both emerging and established non-oil exporters.
- Program participants will acquire essential expertise in export procedures, regulatory compliance, market entry strategies, and financial management, providing them with the necessary resources and knowledge to succeed in both regional and international markets.
The application deadline has not been announced yet. Click HEREÂ to apply.
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