Wema Bank has trained more than 500 Nigerian business owners on international trade through the second edition of its Wema Export Trade Academy (WETA), aimed at equipping businesses with the knowledge and resources required to compete in global markets.

The two-day academy, held in Lagos, brought together exporters, small and medium-sized enterprises (SMEs), commodity aggregators, trade associations, regulators and international trade professionals for practical sessions on navigating the export market.

The programme focused on key areas of the export process, including identifying viable export opportunities, meeting international buyer requirements, documentation, regulatory compliance, financing, logistics and risk management.

Participants received guidance from officials and professionals drawn from the 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 involved in international trade.

Speaking on the significance of the programme, Deputy Managing Director, Wema Bank Plc, Oluwole Ajimisinmi, said Nigerian businesses had the potential to compete successfully in international markets but required the right knowledge, connections, financing and partnerships.

Ajimisinmi said the bank recognised that the potential of Nigerian businesses in global trade could only be fully realised when they had access to the appropriate knowledge, connections and financial support.

“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,” he said.

He said WETA was designed to bring those elements together by helping businesses understand the export ecosystem, connect with relevant stakeholders and build the capacity needed to participate sustainably in international trade.

Also speaking, Deputy Director, NAFDAC, Oluseyi Sanyaolu, stressed the importance of understanding regulatory processes and requirements for businesses seeking to take Nigerian products into international markets.

“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,” Sanyaolu said.

He said initiatives such as the Wema Export Academy were important because they provided businesses with the knowledge and guidance required to navigate the export process and compete more confidently in global markets.

The academy also gave participants an opportunity to assess their businesses from the perspective of international trade and understand the requirements for taking locally developed products and services into new markets.

A participants, Dele Badejo, an importer exploring opportunities in the export market, described the programme as an important step towards understanding opportunities available to Nigerian businesses seeking to diversify into export.

Divisional Executive, Wema Bank, Tajudeen Bakare, said the bank’s engagement with participants would continue beyond the completion of the academy.

Bakare said the bank would work with participating businesses to understand their needs at different stages of their growth and provide relevant financial and non-financial support.

“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.

“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.”

The bank said the second edition of WETA forms part of its broader approach to SME development, which combines financial services with capacity building to support businesses seeking to expand.

It added that the academy builds on its wider international trade agenda aimed at supporting businesses and aspiring exporters through different stages of their participation in international trade.