Former Minister of Finance, Kemi Adeosun, has urged President Bola Tinubu to appoint a National Export Adviser to drive reforms and boost Nigeria’s export sector.
Adeosun made the call during her keynote address at the Nigerian Export-Import Bank’s International Women’s Day Conference Day 2025, themed “For All Women: Rights. Equality. Empowerment”, held in Abuja on Tuesday.
She noted that Nigeria’s export-to-GDP ratio stood at 9.2 per cent, compared to other African countries, adding that Nigeria did not need to reduce its imports into the country, but rather increase its exports.
She said, “I go so far as to call the President, to name a National Export Adviser. We need a figurehead that will drive reforms and break down all barriers to exports so that our world-class goods can get to the global market.
“There’s been a lot of narrative around Nigeria. The narrative used to be Nigeria imports too much, but that is not true. The statistics do not support that at all. The statistics do say that Nigeria exports too little. So, if you look at Nigeria’s export-to-GDP ratio, it is 9.2%. That was the last statistic, that was before the rebasement.
“So, when the rebasement seeds are in, that signal will go down. Nigeria’s export-to-GDP, please remember these numbers, 9.2%, Ghana 34%, South Africa 32.8%, Senegal 23%. So, what we are saying is, not so much efforts on reducing our imports, we need to focus on increasing our exports.”
Adeosun also noted that while it took weeks to register as an exporter in Nigeria, it took only 48 hours to register in South Africa, adding that Nigeria must be intentional about export opportunities.
“By our last recording, there are about four steps to register as an exporter in Nigeria. Takes an average of two to three weeks, in South Africa, it takes 48 hours. So, if it takes long for me to go through various clearances, the chances are I will give up. So, we need to be intentional about the opportunity. And the opportunity for the ladies is in exports.
“It is not in imports, it’s in exports. Your products are world-class. Your products can compete anywhere in the world. And if you look at the trajectory, Nollywood is now growing, our music is growing. What should follow, our fashion, our arts, our crafts, our snacks, our foods, that’s the next wave,” she stated.
In his address, the Managing Director and Chief Executive Officer of the NEXIM Bank, Abubakar Bello, said the occasion was to display the Bank’s commitment to advancing women’s empowerment and emphasising women’s achievements, challenges, and to foster dialogue, share insights and promote actional strategies for women empowerment.
He noted that the bank had developed several products targeting women, including the Women and Youth Export Fund, the Small and Medium Enterprises Export Fund and the Women in Oil and Gas Managed Funds, while also announcing the launch of The Women In Export Development Fund.
He added, “Women and girls are at the heart of national development. When we empower women, we empower families, communities, and entire economies. Nigeria, with its vast human and material resources, can only achieve sustainable development when women are included in all aspects of economic growth, particularly in financial empowerment and entrepreneurship.”
“As we mark this occasion, we commit to further deepen our interventions to increase the participation of women in the non-oil export sector. It is in this regard that we present another flagship product: ‘The Women In Export Development Fund’.”(Punch)
