Business
Wema Bank Launches Export Trade Academy to Empower Nigerian SMEs in International Markets
In a bold step towards empowering Nigeria’s small and medium enterprises (SMEs), Wema Bank has launched the Wema Export Trade Academy, a groundbreaking initiative designed to enhance the global trade capabilities of local businesses. This forward-thinking program demonstrates Wema Bank’s commitment to empowering Nigerian businesses and supporting their international growth potential.
Navigating the complex landscape of export trade involves overcoming regulatory, financial, and logistical hurdles, which can often hinder small businesses from establishing a foothold, the Wema Export Trade Academy is designed as a solution to these challenges faced by Nigerian SMEs when entering international markets. The Academy specifically structured to address each critical aspect of global trade, providing SMEs with targeted guidance on compliance, documentation, financial planning, and risk management.
Participants in the Wema Export Trade Academy will benefit from sessions led by industry experts as well as mentorship opportunities with seasoned professionals. The academy goes beyond conventional training by offering real-world insights into international trade practices, such as export documentation best practices and navigating trade agreements, positioning Nigerian SMEs to confidently expand their presence in the global marketplace. Additionally, the program fosters a collaborative environment, encouraging participants to network with fellow Nigerian exporters, exchange ideas, and build connections with international trade facilitators. This supportive ecosystem is aimed at enhancing productivity and positioning Nigerian businesses as strong contenders on the world stage.
As a trailblazer in digital banking and business innovation, Wema Bank continues to set high standard within Nigeria’s financial landscape. The launch of the Wema Export Trade Academy marks a new chapter in the bank’s mission to support Nigerian enterprises, solidifying its role as an indispensable partner in their journey to international success.
The Wema Export Trade Academy embodies Wema Bank’s pioneering spirit and commitment to providing SMEs with practical, impactful solutions. With comprehensive training on export processes and access to strategic financial products, the program stands as a testament to Wema Bank’s role as an enabler of growth for Nigerian enterprises.
President Bola Tinubu has reaffirmed the Federal Government’s commitment to rehabilitating and repositioning Nigeria’s dormant national refineries, declaring that the facilities will not be allowed to become stranded assets.
Tinubu was represented by the Permanent Secretary of the Ministry of Petroleum Resources, Mrs Patience Oyekunle, at the 20th OTL Africa Downstream Energy Week in Lagos on Monday.
The President said the government is adopting a more rigorous and commercially sustainable approach to the rehabilitation of the Port Harcourt, Warri and Kaduna refineries.
“At the same time, the government remains committed to ensuring that existing national refining assets are not allowed to become stranded investments,” the statement said.
“We are pursuing a more rigorous, commercially sustainable approach to the rehabilitation and repositioning of our refineries, supported by technical assessment, stronger partnerships, and improved operational discipline.”
The objective, according to the administration, is for Nigeria to refine more of its crude oil, create greater domestic value and become a reliable supplier of energy to Africa.
The national refineries, managed by the Nigerian National Petroleum Company Limited (NNPC), have remained largely inactive for years despite significant spending on turnaround maintenance. The NNPC has signed a memorandum of understanding with Chinese firms as part of ongoing efforts to revive the facilities.
Tinubu also noted the contribution of private refining capacity, particularly the Dangote Refinery, which has reached its 650,000 barrels-per-day nameplate capacity, in strengthening Nigeria’s prospects of becoming a net exporter of refined petroleum products.
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