Nigeria’s sluggish non-oil export growth will come under scrutiny on Tuesday as First Bank of Nigeria Limited convenes government officials, financiers, and industry players in Lagos to map strategies for expanding agricultural and trade revenues.
The 2025 Agric and Export Conference, scheduled for 19 August at the Eko Convention Centre, comes amid renewed efforts to diversify the country’s exports and boost its FX receipts. This move would further ease the pressure on the naira and shift attention from dependence on crude oil, the biggest FX earner.
Agriculture and Food Security Minister Abubakar Kyari will deliver the keynote address. Other speakers include Jafar Abubakar Umar, managing director of the Bank of Agriculture; Abba Bello, CEO of the Nigerian Export-Import Bank (NEXIM); Segun Awolowo, secretary of the National Action Committee on AfCFTA; Kabir Ibrahim, president of the All Farmers Association of Nigeria; and Nonye Ayeni, CEO of the Nigerian Export Promotion Council.
Olusegun Alebiosu, FirstBank’s group managing director, said the conference is designed as “a strategic platform for stakeholders to converge, share knowledge, and drive strategies that can unlock the full potential of Nigeria’s agricultural sector and non-oil export industry.
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He added that the bank wants to provide “actionable insights, innovative solutions, and valuable connections” for players in the value chain, with the goal of “delivering tangible benefits to customers and contributing to the growth of Nigeria’s economy.”
Data from the Nigerian Export Promotion Council show non-oil exports stood at around $4.82 billion in 2024, less than a ninth of oil export receipts, despite years of policy advocacy for diversification.
Analysts say scaling up will require investment in processing, storage, and logistics infrastructure, alongside trade facilitation and better integration into regional markets under the African Continental Free Trade Area.
The event will feature plenary discussions, technical sessions on financing and market access, and an exhibition of agribusinesses and trade organisations.
The tier-one financial lender said the forum builds on earlier editions but is taking place at a moment when dollar inflows from oil remain volatile and the Central Bank of Nigeria is pushing for more export-led foreign exchange earnings.
