Entrepreneurs in the micro, small and medium-sized enterprises (MSMEs) sector in Nigeria have been assured of access to finance by Polaris Bank Limited, as the lender steps up support to strengthen the country’s non-export ecosystem. The assurance was given at the NAHCO and NACCIMA Export Group Programme themed Breaking Barriers: Helping SMEs Navigate Export Procedures for Agro Products and Other Commodities.
Speaking at the event, an executive director at Polaris Bank, Mr Chris Ofikulu, underscored the importance of export diversification and the central role of MSMEs in building a resilient economy. He said reducing Nigeria’s dependence on oil revenues requires coordinated action across the public and private sectors to strengthen non-oil exports, particularly within agro-exports and commodity trade.
“Expanding non-oil exports is not optional; it is a strategic imperative for building a resilient, inclusive and competitive Nigerian economy. SMEs, particularly in agro-exports and commodity trade, hold the key to unlocking our true comparative advantage.
“Polaris Bank remains committed to providing the finance, advisory support and partnerships required to help them scale confidently and compete globally,” Mr Ofikulu said.
Also addressing stakeholders, the Team Lead for Trade Services at Polaris Bank, Mr Olaleye Arinola, highlighted the importance of removing trade and payment bottlenecks that limit exporter competitiveness and cash flow. He emphasized the lender’s focus on building confidence and certainty in the export process through practical support.
“Exports cannot grow if finance and payments remain obstacles. At Polaris Bank, our focus is on removing friction from international trade by ensuring SMEs get paid faster, safer and with greater certainty through efficient trade finance, secure cross-border payments and hands-on guidance across documentation, FX and compliance,” Mr Arinola said.
It was gathered that the one-day engagement brought together regulators, industry stakeholders, exporters and trade bodies to advance solutions for easing trade barriers, improving access to finance and building a more diversified Nigerian economy. The programme also marked the formal introduction and launch of the NACCIMA Export Group and the NAHCO Export Support Centre for MSMEs in Nigeria.
The platforms are expected to create a channel for exporters to access trade facilitation services, logistics support, regulatory guidance and financial solutions. Discussions at the engagement also focused on addressing structural challenges confronting exporters, including infrastructure gaps, port inefficiencies, logistics constraints, standards and certification requirements, and policy consistency.
Participants emphasized the need for stronger public-private collaboration among government agencies, trade bodies, financial institutions and logistics partners to simplify export procedures and improve market access for Nigerian SMEs. As part of its partnership with the business and trade community, Polaris Bank unveiled a Dedicated Help Desk for NACCIMA members to provide direct access to trade finance and payment support, resolution of export-related enquiries, and advisory services on FX documentation and regulatory compliance.
