Seun Abosede, the Founder and CEO of Seagreat International Merchant Ltd, has been making waves in the world of non-oil exports from Nigeria. With over a decade of experience in the business, he has established himself as a visionary leader, strategist, and advocate for sustainable trade practices.
Abosede holds a BSc in Economics from the University of Jos in 2005, which provided him with a solid understanding of the economic factors impacting international trade.
His academic portfolio gave him an edge while honing his skills as a Finance Manager at Limotech Engineering Limited in Nigeria.
In 2013, however, Abosede pursued his passion and established Seagreat International Merchant Ltd, focusing on non-oil exports and creating employment opportunities in the local community. His goal was to promote sustainable trade practices and contribute to a more interconnected, equitable, and prosperous global economy.
Under Abosede’s leadership, Seagreat International Merchant Ltd has effectively served clients across continents, bridging the global supply and demand of Nigeria’s agricultural products such as sesame seeds, dried split ginger, dried hibiscus flower, charcoal, pet flakes, and shea butter. He has also established offices in the USA and Nigeria, demonstrating his commitment to expanding his company’s reach.
Abosede is a member of the Nigerian-American Chamber of Commerce, which allows him to advocate for closer trade relations between the USA and African countries, particularly Nigeria. And he aims to further promote trade linkages between Africa, the USA, and the rest of the world.
To also help him reach a wider audience, he has authored a book, “Exporting from Nigeria: A Guide to Business Success,” and has published articles on topics such as “The Role of Technology in Enhancing African Export Efficiency and Competitiveness” and “Digital Transformation: Using E-commerce Platforms to Boost African Exports.”
As a philanthropist, Abosede’s business has created job opportunities, contributing to local employment and economic growth. He is passionate about non-oil exports and believes they can become a significant alternative to Nigeria’s declining oil trade, thus helping to diversify the national economy.
Moving forward, Abosede aims to further strengthen trade linkages, facilitate export promotion initiatives, and explore emerging opportunities to boost non-oil exports. This strategy is informed by the knowledge that non-oil exports have significant potential to improve Nigeria’s economy if the inherent potentials are properly harnessed.
Policies like the establishment of the Nigerian Export Promotion Council (NEPC) in 1976 and the Export Expansion Grant (EEG) scheme in 2007 have already been put in place to promote non-oil exports.
Thus, Abosede is confident that diversifying exports beyond oil can help stabilise export earnings and GDP growth, as oil export earnings are volatile compared to non-oil exports.
“Nigeria is richly endowed with non-oil resources across sectors like agriculture and mining,” Abosede chipped in.
According to research, non-oil exports can reduce dependence on volatile oil revenues, an opportunity to tap into new markets and diversify trade partners, and potential for job creation and economic diversification. “It will also improve the balance of payments and foreign exchange reserves,” says the non-oil exporter.
To harness the potential of non-oil exports, Abosede plans to implement a multi-pronged strategy like strengthening trade linkages and fostering partnerships and collaborations with key trading partners to facilitate market access for Nigerian non-oil exports.
He also hopes to facilitate export promotion initiatives: support initiatives that help Nigerian businesses, especially SMEs, to identify export opportunities, meet international standards, and connect with global buyers, identifying new sectors and markets with high growth potential for Nigerian non-oil exports, such as agricultural products, minerals, and manufactured goods.
By leveraging Nigeria’s rich non-oil resources and implementing targeted strategies, he is confident that the country can reduce its reliance on oil exports and achieve more stable and sustainable economic growth through non-oil exports.
Indeed, Abosede is a true pioneer in the world of non-oil exports from Nigeria. His visionary leadership, strategic acumen, and commitment to sustainable trade practices have made him a role model for others in the industry.
As he continues to advocate for economic diversification and promote closer trade relations, Abosede’s impact on Nigeria’s economy and global trade is sure to grow.
