FG unveils $1bn AfCFTA fund to boost Nigeria’s export drive

By Progress Godfrey

ABUJA – The Federal Government has introduced a $1 billion African Continental Free Trade Area (AfCFTA) Adjustment Fund Credit Facility designed to strengthen local production and boost intra‑African trade.

This programme seeks to enhance the competitiveness of Nigerian firms and accelerate the country’s export‑driven growth across continental markets.

In a press release from the Ministry of Industry, Trade and Investment, Minister Dr Jumoke Oduwole addressed a committee meeting in Abuja on Tuesday, highlighting that the new financing window offers a significant opportunity for local companies to expand and modernise.

“Since our first‑quarter meeting we have continued to make steady progress in strengthening Nigeria’s readiness to maximise the opportunities presented by the One African Market,” Dr Oduwole said.

The Minister added that the government is actively tackling challenges related to export documentation, certification, and market access by simplifying trade tools and fostering agency collaborations.

She also stressed the importance of adopting key AfCFTA protocols, particularly the Digital Trade Protocol, to position Nigeria as a leader in the continental digital economy.

Earlier, Mrs Patience Okala, National Coordinator of the Nigeria AfCFTA Coordination Office, reported that recent sensitisation programmes in Kano successfully engaged more than 470 businesses.

Okala explained that the $1 billion credit facility targets large African enterprises that require a minimum financing capacity of $10 million for expansion and regional integration.

She added that her office is currently collaborating with fund managers to help qualified Nigerian companies access the financing through a new pilot group.

Deputy Director at the Nigerian Export Promotion Council (NEPC), Mr Peter Njoku, also spoke, noting that registration remains compulsory for all exporters in the country.

He announced that the council has fully digitised the registration process, allowing business owners to apply online from any location. According to him, successful applicants will receive a two‑year certificate that grants them access to federal export incentives and development funds.

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