Zenith Bank Plc has emerged as a major supporter of Nigeria’s non-oil export sector, contributing significantly to the country’s export growth and economic diversification.
Newsonspot reports that the bank, with a capital base of over ₦614 billion, has surpassed the Central Bank of Nigeria’s ₦500 billion requirement for an international banking licence. It also retained its position as the number one bank in Nigeria by Tier-1 Capital for the 16th consecutive year in the 2025 Top 1000 World Banks Ranking.
Speaking at the Paris International Agricultural Show in France, the Executive Director and Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni, disclosed that Zenith Bank is the highest contributor to Nigeria Export Proceeds (NXP), accounting for 32.31% of total export proceeds.
Ayeni said the NEPC has strengthened the non-oil export sector through strategic initiatives that have created jobs, reduced poverty, and improved Nigeria’s position in global trade. She noted that 30 banks participated in non-oil export transactions, with nearly 20,000 export proceeds forms processed, while Zenith Bank remained the leading financial institution in the sector.
According to NEPC data, Nigeria’s non-oil export earnings reached about $6.1 billion in 2025, representing an 11.5% increase from $5.46 billion recorded in 2024. Export volume also rose to 8.02 million metric tonnes, a 10% increase from the previous year. The country exported 281 different non-oil products in 2025, showing improved export diversification.
The top destinations for Nigeria’s non-oil exports were the Netherlands, Brazil, and India, with exports reaching 120 countries worldwide. Ayeni attributed the growth to President Bola Ahmed Tinubu’s Renewed Hope Agenda and supportive government trade policies.
Zenith Bank, founded by Dr. Jim Ovia in 1990, has grown into one of Nigeria’s largest financial institutions with international operations in the UK, France, UAE, Ghana, and Sierra Leone, among others. The bank is also expanding services for Nigerians in the diaspora through dedicated banking products and global financial services.
With strong financial performance, rising market capitalization, and compliance with recapitalization requirements, Zenith Bank remains one of the top-performing banks on the Nigerian Exchange and a key driver of Nigeria’s economic growth.
