Lagos, April 15, 2025 – The Central Bank of Nigeria (CBN) has called for collaboration of stakeholders in the export sector to produce quality goods that will be internationally acceptable.
Dr. Aisha Isa-Olatinwo, the CBN Director of Consumer Protection and Financial Inclusion Department, made the call during the Bankers Committee Town Hall meeting in Lagos on Monday.
She identified poor quality, weak packaging and inadequate branding as the major problems facing Nigerian exports abroad.
The director, who was represented by Nelson Amuwa, a Deputy Director, said Nigerian goods had good export potential, but were being limited in the international market by poor quality, packaging and branding.
She said there was the need to collectively address the issues by building capacity across the value chain to compete more effectively at home and across the globe.
“Nigeria has a wide range of goods and services with strong market potential, however, the true value of these products remains unrealised due to constraints in quality, packages, branding and global marketing.
“This forum reinforces the commitment of the Bankers’ Committee to foster collaboration among political institutions, regulators and policymakers.
“By giving these partnerships, you can identify and remove barriers to growth, encourage innovation and scale up the support structures that enable the environment.
“The Nigerian bank sector remains strong and well-positioned to support businesses in enhancing their competitiveness.”
Dr Bamidele Ayemibo, the Lead Consultant at 3T Impex Consulting, said there were many challenges facing the Nigerian export sector and advised the country to learn from other countries that had succeeded in boosting their export capacity.
He called for more investments in areas of research and development to improve Nigerian exports.
“There are some products that if the post-harvest handling is poor, no matter what the manufacturer does, it’s garbage in, garbage out. Also, focus on sustainable practice.
“It’s becoming a big issue in the world and a major challenge for businesses. It’s something that must be done because that’s where the world is going.
“And lastly, capacity building for farmers so that they know exactly what to do.
“Adapt to market preference. Conduct market research to understand the global packaging trend and customer preference.
Ensure that the products are attractive and suitable for specific markets. And utilise packaging as a branding tool.
“Packaging can serve as a critical component of branding. Nigeria should design packaging that not only protects the product but also tells a story and resonates with the consumer,” he said. (GBN)
