Zenith Bank Leads In Supporting Nigeria’s Non Oil Export Growth
OpenLife reports that Zenith Bank Plc is leading in the support for the growth of non oil export in Nigeria.
The bank, with strong capital base of over ₦614 billion, has significantly exceeded Central Bank of Nigeria’s (CBN) ₦500 billion requirement for international license and for the 16th consecutive year in the 2025 Top 1000 World Banks Ranking, it has remained number one bank in Nigeria by Tier-1 Capital
Making the disclosure Monday morning in France at the ongoing “Paris International Agricultural Show,” Nonye Ayeni, Executive Director/Chief Executive Officer of Nigerian Export Promotion Council, NEPC, said Zenith Bank Plc is the highest contributor to Nigeria Export Proceeds, NXP, contributing 32.31% to the total number of NXPs.
Ayeni spoke at National Pavilion organized by the France-Nigeria Business Council, FNBC, which had in attendance French and foreign heads of state, ministers, top government officials and senior corporate leaders across the world.
Ayeni explained that Nigerian Export Promotion Council has deepened non-oil export sector through various strategic initiatives which have ultimately created jobs, alleviated poverty and strengthened Nigeria’s position in the global trade.
In achieving this feat, Ayeni pointed out the leading role of Zenith Bank in financing the processing of Nigeria Export Proceeds forms.
“Our increased engagement with financial institutions also yielded positive results, with 30 banks actively participating in non-oil export transactions and a total of 19,975 Nigeria Export Proceeds forms processed.
“Zenith Bank Plc maintained its leading position, contributing 32.31% to the total number of NXPs for non-oil export,” Ayeni stated.
The NEPC Chief Executive further explained that based on records obtained from the Pre-shipment Inspection Agencies, Nigeria’s non-oil export performance in 2025 reached an all-time high in which case “Export earnings rose to approximately US$6.1 billion, representing a year-on-year increase of about 11.5% over and above the US$5.46 billion recorded in 2024.”
According to him, “This marks the highest non-oil export value achieved since the inception of the Council and underscores the growing resilience and relevance of the non-oil sector to Nigeria’s economy.”
“In volume terms, total non-oil exports stood at 8.02million metric tonnes, reflecting a 10% increase compared to the 7.29million metric tonnes recorded in the previous year. This growth in both value and volume demonstrates improved export activity across multiple value chains and market destinations.”
Specifically, Ayeni disclosed that in the year under review, Nigeria exported a total of 281 distinct non-oil products, a 14.23% increase from 246 products exported in 2024, indicating a notable expansion in export diversification.
He stated that the products cut across agricultural commodities, processed and semi-processed goods, industrial inputs and solid minerals, reflecting gradual progress toward value addition and broader product representation in global markets.
“Nigeria’s non-oil exports reached markets across 120 countries, with the Netherlands (17.53%), Brazil (10.35%), and India (7.63%) emerging as the top 3 destinations by value.”
The CEO attributed these feats to the inspiration of His Excellency, President Bola Ahmed Tinubu (GCFR)’s Renewed Hope Agenda as well as the confidence reposed in the Council and Policy thrust of the Federal Government as envisioned by the Honourable Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole (MFR).
Moving forward, Ayeni said NEPC, in 2026, will continue to recalibrate and re-strategize to be able to achieve much more superlative performance at the end of this year.
Founded by Dr. Jim Ovia in May 1990, Zenith Bank Plc commenced operations as a commercial bank in July of same year with a capital base of $4 million.
It became a public limited company on June 17, 2004 and has grown over the years to become one of Nigeria’s largest financial institutions.
Just last year, the Bank’s financial results as at November 2025, which is the latest of its financial records, showed strong revenue with Gross Earnings hitting N3.37 trillion (+16%).
Profit After Tax (PAT) was N764.2 billion (-7.6%) with Total Assets at N31.18 trillion and Customer Deposits at N23.69 trillion, reflecting solid growth, demonstrable commitments to banking ethics, strong momentum, disciplined execution of policies, strict adherence to corporate governance and ability to deliver long-term shareholder value in spite of challenging macroeconomic environment.
By Friday last weekend, February 20, 2026, Zenith Bank Plc maintained its continuous strong financial position, characterized by significant stock appreciation, high liquidity and robust market capitalization.
The bank is currently a top performer on the Nigerian Exchange (NGX) and has strengthened its capital base well ahead of March 31, 2026 deadline for CBN’s recapitalization requirements.
Effectively, Zenith Bank has international presence through subsidiaries, representative offices and specialized services for customers outside Nigeria.
These operational outlets are in the United Kingdom, France, United Arab Emirates (UAE, Ghana and Sierra Leone.
Others business locations outside Nigeria include Gambia, Beijing in China and South Africa etc.
Moreso, Zenith Bank is actively expanding its presence in the United States to serve the Nigerian diaspora, holding regular, pop-up events for banking services in major cities like Los Angeles, Atlanta, Maryland, New York and Texas (Houston/Dallas).
For ease of business and other transactions, Zenith Bank’s Diaspora Banking allows non-resident Nigerians to open and manage accounts, including Savings, Current, and Domiciliary (USD, GBP, EUR) accounts.
Its International Cards, Visa and Mastercard debit/prepaid cards are available for use in over 150 countries and specialized mortgage loans for Nigerians in the UK, USA, Canada, and other European countries.
The 24/7 access to account management via mobile app and internet banking and provision of Personal/Business Travel Allowance (PTA/BTA) in USD, EUR, and GBP consistently endear the bank to customers.
For specific needs, the bank provides a dedicated “Diaspora Banking” service designed to enable Nigerians abroad to conduct transactions without being physically present in Nigeria.
With numerous awards, rewards and commendations in its kitty, business analysts are optimistic about Zenith Bank’s continuous growth in earnings and revenue in the years and decades ahead.
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