The Central Bank of Nigeria (CBN) has highlighted poor product quality, inadequate packaging, and weak branding as major challenges limiting the growth of Nigeria’s non-oil export sector.
This was the key message at the Bankers’ Committee Town Hall Meeting held in Lagos, which brought together financial institutions, policymakers, and industry experts to address structural issues hampering Nigeria’s export competitiveness.
Despite the country’s diverse range of products with high market potential, Nigerian goods continue to face rejection or underperformance in global markets. According to the CBN, the lack of coordinated value chain development from post-harvest handling to product presentation has significantly eroded the perceived value of Nigerian exports. Stakeholders agreed that addressing these gaps is essential to unlocking new trade opportunities and attracting foreign exchange earnings from non-oil sources.
Participants at the event emphasised the need for increased investment in research and development to improve agricultural and industrial processes. They also stressed the importance of sustainable practices, especially in agriculture, noting that poor handling at the source can compromise final product quality regardless of downstream efforts. Experts urged local producers to adopt international standards and align with global expectations, particularly in packaging, labelling, and branding.
Attention was drawn to the critical role of packaging as both a protective and marketing tool. Stakeholders encouraged manufacturers to design packaging that reflects Nigeria’s cultural identity while also meeting modern consumer preferences in foreign markets. There was consensus that storytelling through branding could help Nigerian products stand out on crowded international shelves, especially as global demand grows for authentic, ethically produced goods.
The event also explored how the Nigerian diaspora could be leveraged to expand market access abroad. As more Nigerians migrate, they become potential brand ambassadors and distributors of Nigerian-made products in their new countries. Rather than view the current emigration trend as a brain drain, experts at the forum suggested it could serve as a strategic asset for market development.
Manufacturers at the event raised concerns about persistent bottlenecks, such as high production costs, unreliable energy supply, and limited access to affordable financing. They called on the banking sector to create more flexible and targeted financial products to support export-ready businesses. The CBN and Bankers’ Committee acknowledged these challenges and expressed renewed commitment to building a more inclusive, competitive business environment.
Tax policy was also part of the conversation, with calls for a fair and efficient tax system that supports growth without stifling business operations. Participants agreed that aligning tax regulations with business realities is essential to boosting investor confidence and improving Nigeria’s ease of doing business.
The town hall concluded with a call for stronger collaboration between regulators, financiers, producers, and exporters. There was a shared understanding that improving product quality, enhancing branding, and aligning with global standards are no longer optional if Nigeria is to achieve sustainable, export-driven growth.
