Beyond Oil: How Nonye Ayeni Is Repositioning Nigeria’s Export Economy
By Labaran Saleh
For decades, Nigeria’s economic fortunes have risen and fallen with the price of crude oil. Successive governments have repeatedly spoken about diversifying the economy, yet the country’s dependence on oil exports has remained remarkably resilient. The challenge has never been the absence of policy declarations; it has been translating those aspirations into measurable results.
That is why the recent performance of the Nigerian Export Promotion Council (NEPC) deserves closer attention.
Since her appointment as Executive Director and Chief Executive Officer of the Council on October 13, 2023, Mrs. Nonye Ayeni has quietly overseen what appears to be one of the most significant transformations in Nigeria’s non-oil export sector in recent years. Her tenure demonstrates that institutional reforms, when driven by competent leadership and measurable objectives, can produce tangible economic outcomes.
Ayeni did not arrive at the Council without preparation. A seasoned financial sector executive with more than twenty-five years of experience in banking and financial technology, she previously served as Managing Director and Chief Executive Officer of Signature Bank, Deputy Managing Director of FETS, and General Manager at Zenith Bank. Her professional background spans treasury management, correspondent banking, electronic banking, human resources, corporate strategy and business development—areas that have proved valuable in repositioning an institution whose mandate is increasingly central to Nigeria’s economic future.
Under her leadership, the NEPC has shifted from being largely promotional to becoming increasingly results-oriented, focusing on expanding non-oil exports, strengthening exporter competitiveness, improving market access and supporting value addition.
The results have been encouraging.
Nigeria recorded its highest non-oil export earnings in history, with export value increasing from US$5.456 billion in 2024 to a record US$6.1 billion in 2025. Export volumes surpassed eight million metric tonnes, while Nigerian products reached 120 countries, with 281 export products finding their way into international markets. These figures suggest not only increased export activity but also greater product and market diversification.
Yet export growth is rarely achieved through statistics alone. Sustainable competitiveness requires businesses capable of meeting increasingly demanding international standards.
Recognising this reality, the Council intensified support for quality assurance and international certification. During 2025 alone, 210 Nigerian exporters received internationally recognised certifications at no cost, enabling them to access premium global markets while improving compliance with international quality requirements.
Equally significant has been the Council’s investment in human capital.
Between 2024 and 2025, the NEPC organised over 1,300 export capacity-building programmes, training thousands of entrepreneurs in export documentation, packaging, branding, international standards, market intelligence and digital trade. More than 80 small and medium-sized enterprises also benefited from the Export Mentorship Programme, where experienced exporters guided emerging businesses through practical market realities.
These interventions recognise an important economic truth: export success depends as much on knowledge and capacity as it does on production.
Perhaps one of the administration’s most remarkable achievements has been Nigeria’s participation in the World Trade Organization–International Trade Centre Women Exporters in the Digital Economy (WEIDE) Fund.
The NEPC became one of only four Business Support Organisations worldwide—and the only one in Africa— selected to implement the programme.
The response was extraordinary.
More than 67,000 women entrepreneurs applied, with 142 women-owned businesses ultimately receiving grants ranging from US$5,000 to US$30,000. Beyond financial support, the Council established the WEIDE Internet Café to provide beneficiaries with digital access and technical assistance, ensuring they could participate effectively in the programme.
At a time when women’s economic inclusion is increasingly recognised as a catalyst for national development, the initiative represents an important investment in expanding Nigeria’s export base.
The Council has also focused on strengthening the physical foundations of export competitiveness.
The establishment of the Export Skills Acquisition Centre (ESAC) in Lagos provides practical training for prospective exporters and serves as a pilot for similar centres nationwide. Likewise, the Export Production Village in Kebbi State seeks to strengthen agricultural production, aggregation and export logistics, helping farmers and processors integrate more effectively into global value chains.
These initiatives demonstrate that export promotion extends well beyond trade exhibitions and policy advocacy. It requires investments in production systems, skills development and infrastructure.
Another notable intervention is the implementation of the Standards and Trade Development Facility (STDF 845) project, designed to reduce export rejections of sesame and cowpea by improving compliance with international sanitary and phytosanitary standards. For agricultural exporters, preventing rejection at foreign ports is often just as important as securing market access in the first place.
Similarly, the Council has intensified efforts to formalise informal cross-border trade, recognising that many small businesses already participate in regional commerce but remain outside official trade statistics and institutional support systems.
Digital trade has not been overlooked either.
Recognising the growing influence of e-commerce, the NEPC facilitated the onboarding of more than 70 Nigerian SMEs onto the Jumia platform, providing them with opportunities to expand market reach through digital channels and participate more actively in the evolving global digital economy.
The Council has equally strengthened international commercial engagement by facilitating business-to-business meetings between Nigerian exporters and buyers from the United Kingdom and the Netherlands, resulting in trade agreements, commercial partnerships and expanded export opportunities.
Internally, service delivery has undergone noticeable improvement.
The processing time for export licences has been reduced to 24 hours, significantly improving the ease of doing business and reducing administrative bottlenecks that previously discouraged exporters.
Beyond Nigeria’s borders, Ayeni has elevated the country’s profile within regional and international trade institutions.
As the Permanent Secretariat of the ECOWAS Trade Promotion Organisations Network, the Council has driven institutional reforms, including establishing the network’s financial structure and planning regional trade fairs aimed at strengthening intra-African trade under the African Continental Free Trade Area (AfCFTA).
She also serves as Nigeria’s Head of Delegation to UN/CEFACT, contributing to global discussions on trade facilitation, digital commerce and international trade standards.
These engagements reinforce Nigeria’s voice in shaping the future of international trade rather than merely responding to decisions made elsewhere.
Within the organisation itself, attention has also been paid to staff welfare, institutional efficiency and performance management, recognising that effective institutions ultimately depend on motivated personnel.
Of course, Nigeria’s export journey remains far from complete.
The country must continue addressing infrastructure deficits, logistics challenges, financing constraints and regulatory inefficiencies if non-oil exports are to become a major driver of national prosperity. Export diversification is a marathon rather than a sprint.
Nevertheless, the progress recorded under Nonye Ayeni’s leadership offers an encouraging indication of what focused leadership, institutional discipline and strategic partnerships can achieve.
The real significance of the NEPC’s recent performance lies not merely in record export figures, but in the gradual transformation of Nigeria’s export ecosystem—from one centred on raw commodity shipments to one increasingly driven by value addition, quality standards, digital trade, entrepreneurship and global competitiveness.
For a nation determined to reduce its dependence on crude oil, that transformation is not merely desirable.
It is indispensable.
Labaran Saleh writes from: [email protected]