The Preamble
Nigeria possesses substantial potential for GDP growth, job creation, and poverty reduction by harnessing the import-export trade sector, constituting approximately 25% of the nation’s GDP. However, actualizing this potential and expanding trade volume and GDP faces significant challenges due to prevalent issues affecting individuals and businesses.
A critical yet overlooked challenge impacting trade growth is the competency of bankers handling import-export transactions. Skilled older bankers, proficient in traderelated aspects, are exiting the sector without effective succession planning, widening the skill gap. This scarcity hinders talent acquisition for trade operations and trade business development, leading to erroneous trade practices and low trade volume for the bank and the country.
The Nigerian Trade Finance Skill Gap Assessment Survey is crafted for professionals in trade operations,
trade finance, and business development units. Its purpose is to evaluate industry competency, pinpoint deficiencies, and presents solutions to address the trade skill gap.
Listed below are points that underscore the substantial risks banks encounter when staff lack the necessary skills and competencies in international trade finance operations and risks: