Wema Bank Plc has trained more than 500 Nigerian business owners and trade professionals as part of efforts to help local enterprises access international markets and compete more effectively in the global economy.

The training was delivered through the second edition of the Wema Export Trade Academy (WETA), a two-day programme held in Lagos.

The initiative brought together exporters, small and medium-sized businesses, commodity aggregators, trade associations, regulatory officials and other stakeholders involved in international commerce.

Focus on Export Readiness

Participants received practical guidance on several areas considered essential to successful international trade.

These included identifying export opportunities, understanding the requirements of overseas buyers, preparing trade documentation, complying with regulations, securing financing, managing logistics and addressing risks associated with cross-border transactions.

Experts and representatives from major institutions also participated in the sessions. They included officials from the Central Bank of Nigeria, Nigerian Export Promotion Council, Nigeria Customs Service, Nigerian Ports Authority and the National Agency for Food and Drug Administration and Control.

Bank Highlights Need for Knowledge and Finance

Wema Bank’s Deputy Managing Director, Oluwole Ajimisinmi, said Nigerian businesses need a combination of knowledge, appropriate financial support and access to relevant market connections to take advantage of international trade opportunities.

He explained that the academy was designed to give businesses a clearer understanding of the export ecosystem while connecting them with institutions and stakeholders that can support their expansion.

According to the bank, the programme is intended to help participating businesses build sustainable capacity rather than simply provide short-term training.

NAFDAC Stresses Compliance

Oluseyi Sanyaolu, a Deputy Director at NAFDAC, highlighted the importance of meeting regulatory requirements and maintaining appropriate quality standards for businesses seeking to sell Nigerian products abroad.

She said initiatives such as the Export Trade Academy could help businesses better understand the regulatory procedures involved in accessing international markets.

Participants also described the programme as useful for identifying gaps between their existing operations and the standards expected in global trade.

One participant, Dele Badejo, said the training could be particularly valuable to local businesses looking to expand beyond imports and explore opportunities in non-oil exports.

Wema Bank Pledges Ongoing Support

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

He said the financial institution plans to provide participating enterprises with tailored financial and non-financial assistance based on their individual stages of development and business needs.

The bank said this approach forms part of its wider strategy of supporting small and medium-sized enterprises through a combination of banking solutions, business capacity development and access to markets.

Wema Bank said it expects the initiative to help more Nigerian businesses strengthen their export capabilities and participate more effectively in international markets.

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