The Federal Government has intensified efforts to drive Nigeria’s export-led growth strategy under the African Continental Free Trade Area (AfCFTA), unveiling a US$1 billion AfCFTA Adjustment Fund Credit Facility to support Nigerian businesses seeking to expand production, improve competitiveness, and boost exports across Africa.
Speaking at the Second Quarter 2026 Meeting of the AfCFTA Central Coordination Committee (CCC) in Abuja on Tuesday, the Minister of Industry, Trade and Investment, Jumoke Oduwole, said the financing facility offers a major opportunity for Nigerian companies to modernize operations, scale production and strengthen their presence in African markets.
Oduwole noted that despite significant progress recorded in Nigeria’s implementation of AfCFTA, many businesses continue to face challenges related to export documentation, certification, standards compliance and market access. She said the Federal Government is addressing these constraints through enhanced trade facilitation measures, simplified AfCFTA guidance tools, stakeholder engagement initiatives and stronger collaboration with agencies such as the Nigeria Customs Service and the Nigerian Export Promotion Council.
The minister also underscored the need to strengthen Nigeria’s legal and regulatory framework through the domestication of key AfCFTA protocols, particularly the Digital Trade Protocol, to position the country as a leading force in Africa’s growing digital economy.
Highlighting recent milestones, Oduwole cited the expansion of Nigeria’s Air Cargo Corridor Initiative to Rwanda, increased partnerships with development agencies and private-sector stakeholders, and ongoing engagements with state governments aimed at deepening awareness and participation in AfCFTA opportunities nationwide.
In her welcome address and first-quarter update, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Patience Okala, congratulated Oduwole on her recent appointment as Chairman of the AfCFTA Council of Ministers, describing it as a testament to Nigeria’s growing influence in continental trade integration.
Okala disclosed that recent AfCFTA sensitisation programmes in Kano attracted more than 470 businesses, including a strong representation of women-led enterprises. She added that the newly introduced AfCFTA ABC Series is helping businesses better understand export procedures and tap into opportunities within the continental market.
Providing details of the financing programme, Okala explained that the US$1 billion AfCFTA Adjustment Fund Credit Facility is targeted at large African businesses with a minimum financing requirement of US$10 million. According to her, the facility will support business expansion, modernization, working capital needs, project development, industrialisation and regional value-chain integration.
She further revealed that the National AfCFTA Coordination Office is collaborating closely with fund managers to facilitate access for qualified Nigerian companies and is assembling a pilot group of businesses to ensure the country maximises the available financing opportunities.
Also speaking at the meeting, a Deputy Director of the Nigerian Export Promotion Council (NEPC), Mr. Njoku, reiterated that NEPC registration remains mandatory for all exporters in Nigeria. He announced that the registration process has been fully digitised, allowing businesses to register online from any location in the country.
According to him, successful applicants receive an Exporter’s Certificate valid for two years, which grants access to incentives such as the Export Expansion Grant (EEG) and the Export Development Fund (EDF).
Delivering the vote of thanks on behalf of the Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, Dr. Chris Osa Isokpunwu, the Director of Special Duties, Dr. Simon Om-Ezomo, expressed appreciation to the AfCFTA Secretariat, the Nigeria Customs Service, government agencies, private-sector operators and development partners for their continued support.
He stressed the importance of sustained collaboration, stakeholder engagement and effective policy implementation to ensure Nigeria fully harnesses the benefits of AfCFTA.
The meeting concluded with stakeholders reaffirming their commitment to strengthening inter-agency cooperation, expanding opportunities for women and youth entrepreneurs, increasing utilisation of AfCFTA market access provisions and deepening Nigeria’s participation in regional and continental value chains.
Participants also pledged support for Nigeria’s preparations for key continental engagements scheduled for June and July 2026, with a shared goal of boosting exports, attracting investment, driving industrial growth and creating jobs.
