Nigeria unveils $1 billion AfCFTA credit facility to boost exports and intra-African trade
via Punch Nigeria4 min read
The Federal Government has reaffirmed its commitment to accelerating Nigeria’s export-led growth under the African Continental Free Trade Area AfCFTA by unveiling a $1 billion AfCFTA Adjustment Fund Credit Facility. This facility aims to boost production, competitiveness, and intra-African trade for Nigerian businesses. The Minister of Industry, Trade and Investment, Jumoke Oduwole, announced this during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee in Abuja. The financing is intended to help businesses expand operations, modernize production processes, and increase exports to African markets. Oduwole acknowledged that Nigerian businesses still face challenges such as export documentation, certification, standards compliance, and market access, and stated that the government is addressing these through enhanced trade facilitation measures and collaboration with institutions like the Nigeria Customs Service and the Nigerian Export Promotion Council. She also emphasized the need to domesticate key AfCFTA protocols, including the Digital Trade Protocol. The National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, noted that the $1 billion facility is targeted at large African businesses with a minimum financing capacity of $10 million, and her office is working with fund managers to facilitate access for eligible Nigerian companies. The AfCFTA, which began trading in January 2021, is the world’
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