Polaris Bank has reaffirmed its commitment to strengthening Nigeria’s non-oil export sector and empowering micro, small, and medium-sized enterprises (MSMEs) by participating in the NAHCO and NACCIMA Export Group Programme. The initiative—titled “Breaking Barriers: Helping SMEs Navigate Export Procedures for Agro Products and Other Commodities”—brought together key stakeholders to address persistent challenges limiting Nigeria’s export potential.
The one-day programme convened regulators, industry players, exporters, and trade bodies to develop practical solutions aimed at dismantling trade bottlenecks, improving access to finance, and advancing a more diversified and resilient Nigerian economy.
A major highlight of the event was the formal launch of two key export-support structures: the NACCIMA Export Group and the NAHCO Export Support Centre for MSMEs. These platforms are designed to provide structured support services to exporters, including trade facilitation, logistics solutions, regulatory guidance, and financial assistance across the export value chain.
Export Diversification Seen as National Imperative
During the session, Polaris Bank’s Executive Director, Chris Ofikulu, stressed the importance of export diversification in strengthening Nigeria’s economy. He highlighted the critical role of SMEs in driving growth and resilience, noting that reducing dependence on oil revenue requires coordinated action across both public and private sectors.
“Expanding non-oil exports is not optional; it is a strategic imperative for building a resilient, inclusive and competitive Nigerian economy,” Ofikulu said. “SMEs, particularly in agro-exports and commodity trade, hold the key to unlocking our true comparative advantage. Polaris Bank remains committed to providing the finance, advisory support and partnerships required to help them scale confidently and compete globally.”
Addressing Structural Challenges Facing Exporters
The discussion also examined several structural barriers that continue to constrain export growth. These included infrastructure gaps, port inefficiencies, logistics constraints, standards and certification requirements, and inconsistent policy implementation.
Participants emphasized the need for deeper collaboration among government agencies, trade associations, financial institutions, and logistics providers to streamline export processes and improve market access for Nigerian SMEs.
Financing and Payments: Critical Barriers to Growth
Polaris Bank’s Team Lead for Trade Services, Olaleye Arinola, highlighted how trade and payment challenges often undermine exporter competitiveness and cash flow. He emphasized the bank’s role in providing practical financial solutions and advisory support to build confidence and certainty within the export process.
“Exports cannot grow if finance and payments remain obstacles,” Arinola stated. “At Polaris Bank, our focus is on removing friction from international trade by ensuring SMEs get paid faster, safer and with greater certainty through efficient trade finance, secure cross-border payments and hands-on guidance across documentation, FX and compliance.”
Dedicated Help Desk for NACCIMA Members
As part of its continued support for the business community, Polaris Bank introduced a Dedicated Help Desk for NACCIMA members, aimed at providing direct assistance for trade finance and payment issues. The desk will also support rapid resolution of export inquiries and provide personalized guidance on FX documentation and regulatory compliance.
A Long-Term Commitment to Export Growth
Polaris Bank reaffirmed its commitment to partnering with NAHCO, NACCIMA, and other stakeholders to build exporter capacity, promote value addition in agro-exports and commodities, and unlock sustainable growth opportunities for Nigerian businesses in regional and global markets.
As Nigeria advances its economic diversification agenda, Polaris Bank positions itself as a strategic partner for SME exporters—offering the financial resources, expertise, and institutional support needed to compete internationally and contribute to long-term national development and resilience.