The Federal Government has unveiled a $1 billion AfCFTA Adjustment Fund Credit Facility aimed at supporting Nigerian businesses to expand production, boost competitiveness, and increase exports across African markets.
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, disclosed this at the second quarter 2026 meeting of the AfCFTA Central Coordination Committee (CCC) in Abuja, describing the financing window as a major opportunity for companies seeking to scale operations and tap into continental trade.
According to her, the facility will enable businesses to modernise production processes, strengthen capacity, and improve access to new markets under the African Continental Free Trade Area (AfCFTA).
She noted that despite progress in implementing AfCFTA, many Nigerian businesses still face challenges related to export documentation, certification, standards compliance, and market access.
The minister said the government is addressing these constraints through trade facilitation reforms, simplified guidance tools, and closer collaboration with key agencies, including the Nigeria Customs Service and the Nigerian Export Promotion Council (NEPC).
Oduwole also stressed the need to strengthen Nigeria’s regulatory framework, particularly through the domestication of AfCFTA protocols such as the Digital Trade Protocol, to position the country competitively in Africa’s digital economy.
Providing further details, the National Coordinator of the Nigeria AfCFTA Coordination Office, Mrs. Patience Okala, said the $1 billion facility is targeted at large African businesses with a minimum financing capacity of $10 million.
She explained that the fund will support business expansion, working capital, industrialisation, project development, and integration into regional value chains.
Okala added that efforts are underway to help qualified Nigerian companies access the facility, including the creation of a pilot group to maximise participation.
She also highlighted growing engagement among local businesses, noting that recent sensitisation programmes in Kano attracted over 470 participants, including a significant number of women-led enterprises.
Meanwhile, the Nigerian Export Promotion Council (NEPC) reiterated that registration remains mandatory for exporters, adding that the process has been fully digitised to enable online access nationwide.
Stakeholders at the meeting reaffirmed their commitment to strengthening collaboration, increasing export activities, and expanding opportunities for women and youth entrepreneurs under AfCFTA.
They also pledged support for Nigeria’s participation in upcoming continental engagements, with a focus on boosting exports, attracting investment, and driving industrial growth.
