Industry experts have warned that, despite increasing export volumes, the country could miss important global trade opportunities if lingering concerns bordering on value addition are not addressed.
 
The concern about weak value addition was the central theme of the Lagos Chamber of Commerce and Industry (LCCI) Exporters Development Programme, where stakeholders emphasised that Nigeria’s export potential remained heavily underutilised due to gaps in processing, quality standards and access to international markets.
 
Executive Director/Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni, represented by the Council’s South-West Regional Coordinator, Benedict Itegbe, said Nigeria’s export structure was heavily dominated by crude oil and gas, which account for between 80 and 90 per cent of total export earnings. This, she said, left the economy exposed to crude oil price volatility, foreign exchange instability and fiscal uncertainty.
 
She noted, however, that non-oil exports have continued to expand, reaching a record $6.1 billion in 2025, an 11.5 per cent increase on $5.46 billion in 2024, with export volumes rising to 8.02 million metric tonnes across 120 countries and 281 product lines.
 
Ayeni decried that despite this growth, Nigeria continues to export many products in their raw form, including cashew and cocoa, leaving much of the value in the hands of processors in other countries. She explained that while a kilogram of raw cassava earns only a few cents, processed cassava starch can generate three to five times more value, underscoring the need to invest in processing, packaging, branding and quality assurance to reposition the country as a producer of finished and semi-finished goods for global markets.
 
She further noted that many small and medium-sized enterprises (SMEs), which are central to export diversification, struggle to meet the volume and consistent quality required by international buyers. She said initiatives such as export clusters and agro-processing centres are being developed to improve scale and standardisation and reduce the cost of value addition, while urging businesses to invest in export readiness and to develop clear plans to take advantage of global market opportunities.
  
President of LCCI, Leye Kupoluyi, said Nigeria’s export potential remains under-optimised due to persistent gaps in value addition, quality standards and access to international markets, and stressed the need to reposition the country from a supplier of raw commodities to a competitive, value-driven export economy.
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He noted that global disruptions, including geopolitical conflicts and supply chain shifts, have altered trade flows and foreign exchange dynamics, making it imperative for Nigeria to capitalise on emerging opportunities.
 
He added that exporting raw agricultural produce limits Nigeria’s participation in global value chains, noting that value addition enhances competitiveness and foreign exchange earnings. “Exporting raw cocoa, for instance, yields only a fraction of the value of processed chocolate products,” he said, adding that Nigeria’s path to economic resilience lies in transitioning from an oil-dependent economy to a diversified, export-driven one, supported by improved standards, logistics and market intelligence.
 
Managing Director of 3T Impex Consulting Limited, Dr Bamidele Ayemibo, said that many Nigerian businesses fail in export markets due to inadequate preparation, adding that export readiness remains a major challenge for exporters.
   
He explained that while some businesses can enter international markets more easily, many are unable to sustain operations due to delays, poor planning, quality issues and other inefficiencies, often resulting in significant financial losses and exit from the market.
    
He further noted that exporters often struggle with pricing, logistics and documentation, stressing that many transactions are based on assumptions rather than proper cost analysis. High transport costs and documentation discrepancies continue to affect competitiveness and payment timelines. 
 
“Nigeria needs to take exports, especially non-oil exports, more seriously. We’re not taking them seriously,” he said, adding that strengthening support systems and increasing export capacity are critical to improving economic outcomes.
   
Regional Coordinator, South-West, Nigerian Export Promotion Council (NEPC), Benedict Itegbe, emphasised the importance of export readiness at the planning stage, noting that businesses must build capacity to manage risks and sustain operations. He added that data-driven decisions are critical for identifying viable products and markets, even as Nigeria’s non-oil exports reached about $6.1 billion, with informal trade estimated to be significantly higher.
   
Itegbe said formalising export operations enables businesses to access incentives, training and institutional support while reducing risks. He added that the council continues to support exporters through capacity-building and advisory services, and encourages a shift from commodity exports to value-added products.
  
Chair of the LCCI Export Group, Sada Ladan-Baki, said the programme was designed to help businesses transition from local production to export-oriented operations, noting that access to finance, logistics constraints and trade barriers continue to hinder export growth.
  
He highlighted challenges in regional trade, including difficulties in exporting within Africa due to non-tariff barriers and multiple checkpoints, and stressed the need for greater compliance with regulatory standards and increased formalisation to improve competitiveness and ease cross-border trade.
  
Speaking on buyer linkages and market entry opportunities, Secretary General of the International Chamber of Commerce Nigeria (ICCN), Olubunmi Osuntuyi, noted that many Nigerian businesses underestimate what it takes to enter a new market successfully.      
“Three issues consistently arise, namely compliance and standards; logistics and trade facilitation; and payment security and trust. Cross-border trade carries risks — currency volatility and payment defaults. Businesses must structure transactions properly using recognised trade instruments and contracts.”
   
Stressing that African businesses must intentionally trade with African buyers, she said four elements are critical to unlocking export opportunities: market access, export competitiveness, industry capacity building, and firm policy support for exports.
  
Assistant Director, Sectoral and Regulatory Affairs, Manufacturers Association of Nigeria (MAN), Oluchi Odimuko, spoke on market access, export competitiveness, industrial capacity building, policy support for exports, and how businesses can move beyond talk to more tangible actions that yield results.
 
Listing numerous barriers to local manufacturing, which in turn affect trade, she said Nigeria must begin to take better advantage of trade agreements and policy alignments, such as the African Continental Free Trade Agreement (AfCFTA) and the ECOWAS Trade Liberalisation Scheme (ETLS).
  
To build export competitiveness, she said, Nigerian manufacturers must embrace value differentiation, ensure proper trade documentation, and build industrial capacity. She urged governments at all levels to ensure policy consistency, provide export incentives, improve FX access, and streamline regulations.
 
Officials from the National Agency for Food and Drug Administration Control (NAFDAC), the National Export Promotion Council (NEPC) and the Standards Organisation of Nigeria (SON) took manufacturers and business owners through a step-by-step process for exporting, including how to manufacture for export, identifying target markets, mistakes to avoid and how to properly document and code export products.
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hey stressed that the goal is to triple export numbers over the next 12 months, remove obstacles and, as much as possible, bridge the import numbers.