The federal government says Nigerian businesses now have access to a $1 billion financing facility under the African Continental Free Trade Area (AfCFTA), designed to strengthen production and improve export competitiveness across African markets.
Speaking at the 2nd Quarter 2026 meeting of the AfCFTA Central Coordination Committee in Abuja, the Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole, described the financing window as a major opportunity for businesses looking to scale operations and deepen regional trade.
“This financing facility presents a significant opportunity for Nigerian companies seeking to expand operations, modernise production, and increase exports across African markets,” she said.
Mrs Oduwole noted that despite progress in AfCFTA implementation, Nigerian exporters still face challenges such as documentation bottlenecks, certification requirements, and standards compliance issues.
She said the government is addressing these gaps through trade facilitation reforms and stronger collaboration with agencies, including the Nigeria Customs Service (NCS) and the Nigerian Export Promotion Council (NEPC).
The trade minister also stressed the importance of strengthening Nigeria’s legal and regulatory framework, particularly through the domestication of the AfCFTA Digital Trade Protocol.
At the meeting, the National Coordinator and CEO of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, said the $1 billion AfCFTA Adjustment Fund Credit Facility is targeted at large-scale businesses with a minimum financing threshold of US$10 million.
“The facility will support business expansion, modernisation, working capital requirements, project development, industrialisation efforts, and regional value chain integration,” she explained.
Mrs Okala added that the coordination office is working with fund managers to ensure qualified Nigerian firms can access the facility, while also assembling a pilot group of businesses to maximise participation.
She further highlighted growing private sector engagement, noting that recent sensitisation events in Kano attracted more than 470 businesses, including women-led enterprises.
On his part, a representative of the Federal Ministry of Industry, Trade and Investment, Mr Simon Om-Ezomo, commended stakeholders for their collaboration and urged sustained commitment to policy implementation.