Nigeria Launches $1 Billion AfCFTA Credit Facility

The Federal Government of Nigeria unveiled a $1 billion AfCFTA credit facility designed to enhance Nigerian exports and boost product competitiveness in intra-African trade. Jumok Oduwol, the Minister of Industry, Trade, and Investment, disclosed this initiative during the second quarter 2026 meeting of the AfCFTA Central Coordinating Committee held in Abuja.

The facility aims to provide Nigerian businesses with access to funding, addressing obstacles that limit their ability to benefit from the African Continental Free Trade Area (AfCFTA). Oduwol emphasized the need to strengthen Nigeria's legal and regulatory framework, particularly concerning digital trade protocols.

The initiative also includes a sensitization program in Kano, which attracted 470 businesses, including significant participation from women-led enterprises. The AfCFTA Coordinating Office, led by Patience Okala, is working closely with fund managers to ensure eligible Nigerian companies can access this facility.

Additionally, the registration process for exporters has been fully digitized to streamline operations.