Nigeria’s small and medium-sized enterprises (SMEs) are receiving renewed institutional backing to expand beyond the domestic market, as banks, export agencies and certification bodies introduce initiatives aimed at improving export readiness and international competitiveness.
The coordinated efforts come as policymakers seek to diversify Africa’s largest economy away from oil by strengthening non-oil exports and supporting the country’s SME sector, which accounts for the overwhelming majority of businesses, contributes substantially to economic output and provides millions of jobs.
Recent initiatives highlight a growing recognition that many Nigerian businesses possess competitive products but continue to struggle with the technical, financial and regulatory requirements needed to access regional and global markets.
Standard Chartered Bank Nigeria recently convened an export-focused engagement with customers and stakeholders under the theme “Scaling Beyond Borders in a Changing Global Market.” The event brought together regulators, trade experts and business owners to discuss export opportunities, customs procedures, regional trade integration and financing options.
Speaking at the event, Acting Chief Executive Officer Ayodeji Adelagun said Nigerian SMEs have significant opportunities to expand across Africa and other international markets as digital trade, changing consumer demand and regional integration create new growth prospects. However, he noted that businesses must also overcome persistent obstacles, including exchange-rate volatility, supply chain disruptions, infrastructure deficits, limited access to affordable financing and evolving global trade regulations.
The emphasis on export preparedness was reinforced by officials from the Nigeria Customs Service, who stressed that compliance with customs documentation, record-keeping and regulatory requirements remains essential for businesses seeking to reduce export delays and costs.
Another significant development came with the launch of The NGCL Certification Pathway by NECA’s Global Certification Limited, a programme designed to make internationally recognised ISO 9001:2015 quality management certification more accessible to micro, small and medium-sized enterprises.
The initiative seeks to address one of the biggest barriers facing exporters obtaining internationally accepted quality certification. Global certification increasingly serves as a prerequisite for supplying multinational companies, participating in government procurement and accessing opportunities under the African Continental Free Trade Area (AfCFTA). By introducing fixed naira pricing, structured implementation timelines and internationally verifiable certification, the programme aims to lower compliance costs for smaller businesses.
Meanwhile, the Nigerian Export Promotion Council (NEPC) has expanded digital market access through a partnership with Jumia Nigeria, onboarding more than 70 SMEs onto the e-commerce platform. The initiative forms part of the council’s broader strategy to increase non-oil exports by connecting Nigerian businesses with wider domestic and international markets.
Despite the growing support ecosystem, significant structural challenges remain. High logistics costs, unreliable electricity supply, limited access to export finance and weak value-chain integration continue to erode the competitiveness of many SMEs. Industry stakeholders also note that some Nigerian products still struggle to meet international standards on packaging, quality control, traceability and certification, limiting their acceptance in overseas markets.
The recent wave of initiatives signals meaningful progress toward strengthening Nigeria’s export ecosystem. However, translating institutional support into sustained export growth will depend on whether SMEs can improve operational efficiency, meet global quality standards and build resilience in an increasingly competitive international marketplace.
