Nigeria’s non-oil export sector has delivered its strongest performance on record in 2025, and emerging at the centre of that milestone is Zenith Bank Plc, officially ranked as the leading bank supporting non-oil export transactions in the country.

Figures released by the Nigerian Export Promotion Council (NEPC) show that Nigeria recorded a historic $6.1 billion in non-oil exports in 2025, marking an 11.5 percent increase from the $5.46 billion achieved in 2024. Export volumes also climbed by 10 percent to 8.02 million metric tonnes, underscoring renewed momentum in the country’s diversification drive.

Among the 30 commercial banks that participated in export transactions during the year, Zenith Bank processed the highest volume of Nigeria Export Proceeds (NXP) documentation, accounting for 32.31 percent of nearly 20,000 NXP forms handled across the banking sector. The performance firmly positions the bank as Nigeria’s most export-friendly financial institution in 2025.

Industry analysts note that the ranking is not merely symbolic but reflects operational capacity, structured trade finance systems, and sustained engagement with exporters across multiple value chains.

Non-Oil Exports Expand Global Reach

According to NEPC data, Nigerian non-oil products reached 120 countries in 2025, with the Netherlands, Brazil and India emerging as top destinations by export value. The broadening market access signals stronger global competitiveness for Nigerian agricultural and manufactured goods.

The export surge comes amid intensified efforts to strengthen compliance under the Nigeria Export Proceeds framework, improve documentation accuracy, and enhance transparency in export earnings repatriation. Financial institutions played a critical role in ensuring that export documentation met regulatory and international standards.

Zenith Bank’s dominant 32.31 percent share of NXP transactions placed it significantly ahead of its peers, reinforcing confidence among exporters who depend on seamless processing, foreign exchange facilitation, and regulatory compliance.

Driving Nigeria’s Diversification Agenda

The expansion in non-oil exports aligns with the Federal Government’s diversification strategy under President Bola Ahmed Tinubu’s Renewed Hope framework and the policy thrust of the Federal Ministry of Industry, Trade and Investment.

With eight seaports, three international airports and nine land borders serving as export exit points in 2025 — and approximately 94 percent of shipments routed through seaports — efficient banking support became increasingly essential. Analysts say Zenith Bank’s scale, liquidity strength and trade finance infrastructure positioned it as a dependable partner for exporters navigating both domestic logistics and international trade systems.

The bank’s leadership in export proceeds processing also comes at a time when data integrity and monitoring within the export ecosystem have improved significantly, reducing discrepancies and strengthening sector-wide accountability.

Strengthening Export Credibility

Beyond the transaction figures, 2025 saw improvements in compliance, quality assurance and global market acceptance. Through collaborations involving NEPC and international institutions such as the World Trade Organization and the International Trade Centre, Nigeria intensified reforms aimed at reducing export rejections and improving standards in key agricultural value chains.

As these reforms enhanced Nigeria’s credibility in global markets, exporters increasingly required reliable financial partners capable of handling documentation, repatriation processes and foreign exchange flows efficiently. Zenith Bank’s dominant participation in NXP processing suggests strong exporter trust and institutional confidence.

Outlook for 2026

Looking ahead, NEPC has outlined plans to broaden exporter participation, deepen value addition, strengthen export infrastructure and expand regional trade within ECOWAS. Financial institutions are expected to remain central to sustaining the sector’s growth trajectory.

With its 32.31 percent share of NXP transactions in 2025, Zenith Bank has consolidated its position as the leading export-friendly bank in Nigeria. As the country pushes to scale non-oil exports further in 2026 and beyond, the bank’s continued leadership in export financing and documentation is likely to play a critical role in sustaining momentum.

Nigeria’s record-breaking non-oil export performance in 2025 reflects coordinated efforts across government agencies, exporters, development partners and the financial sector. Among the banks, however, Zenith Bank stands out clearly, having earned its recognition as the nation’s number one export-friendly bank.