Standard Chartered Bank Nigeria, has convened a knowledge-sharing session to help small and medium-sized enterprises (SMEs) strengthen their export capabilities and navigate opportunities across Nigeria’s trade ecosystem.
“Digital transformation, regional integration and shifting consumer preferences are opening new pathways for growth,” Ayodeji Adelagun, acting CEO, Standard Chartered Bank Nigeria Limited, said during the recent SME session.
Themed “Scaling Beyond Borders in a Changing Global Market,” the session focused on the evolving macroeconomic environment, the need for stronger collaboration across the trade ecosystem, and the role of financial institutions in enabling Nigerian SMEs to scale beyond domestic markets.
Adelagun underscored the vital role of SMEs as engines of inclusive economic growth, job creation and long-term prosperity in Nigeria.
He noted that SMEs account for about 96 percent of businesses in the country, contribute nearly half of national GDP, and employ a significant proportion of the workforce, reinforcing their position as the backbone of the Nigerian economy.
“The rapidly evolving global business landscape presents a defining opportunity for Nigerian SMEs to expand beyond local markets and compete with greater confidence across Africa and the world,” Adelagun said.
He added that businesses must also navigate realities such as currency volatility, evolving trade policies, supply chain disruptions, and access to affordable finance among others to fully capture these opportunities.
“Building resilience, strengthening adaptability and investing in the right capabilities will be critical to sustainable success,” he said.
Adelagun further encouraged entrepreneurs to embrace innovation, leverage technology, strengthen compliance and quality standards, and build strategic partnerships that can enhance export readiness, deepen market access and position Nigerian businesses for sustainable global competitiveness.
Burhan Idris Sulaiman, Assistant Comptroller, Trade Facilitation, Nigeria Customs Service (NCS), said that SMEs seeking to trade across borders must prioritise proper documentation, accurate classification, regulatory compliance and early engagement with relevant agencies.
“For SMEs, successful cross-border trade starts with preparation,” Sulaiman said, adding that businesses that understand customs requirements, maintain accurate records and engage the right agencies early are better positioned to reduce delays, manage costs and access regional and international markets more competitively..
Bisi Oke, head, SME Banking Nigeria, Standard Chartered Bank Nigeria Limited, while speaking on the bank’s commitment to supporting clients beyond banking, said export-led growth remains an important pathway for Nigerian SMEs.
“This engagement reflects our commitment to supporting clients beyond banking by providing access to the insights, partnerships and opportunities they need to grow and compete in international markets.”
According to Oke, the bank is focused on helping its clients unlock opportunities with the right knowledge, networks and financial solutions.
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