Afreximbank Approves $30M Facility for NEXIM to Boost SMEs

The African Export-Import Bank (Afreximbank) has approved a $30 million financing facility for the Nigeria Export-Import Bank (NEXIM) aimed at improving funding access for export-oriented small and medium enterprises (SMEs). This facility was formalized during a signing ceremony at the 2026 Creative Africa Nexus Weekend in Lagos.

The financing package includes a $20 million revolving working capital facility and a $10 million medium-to-long-term loan facility. NEXIM stated that this approval is a significant milestone that reinforces confidence in Nigeria’s export financing ecosystem and supports the federal government’s export diversification agenda.

The facility is expected to assist businesses in exports, intra-African trade, manufacturing, and commodity processing, while enhancing Nigeria's position in continental trade under the African Continental Free Trade Area (AfCFTA). Additionally, beneficiary businesses will gain access to capacity-building programs and trade facilitation platforms.

This initiative aligns with the federal government's commitment to expanding non-oil exports and enhancing SME competitiveness.