Odimmegwa Johnpeter/Abuja
The Federal Government has reaffirmed its commitment to accelerating Nigeria’s export-led growth agenda under the African Continental Free Trade Area (AfCFTA), unveiling opportunities for businesses to access a US$1 billion AfCFTA Adjustment Fund Credit Facility aimed at boosting production, competitiveness, and intra-African trade. This was contained in a statement signed by Obilor-Duru Augustina Okechi, Head, Press, and Public Relations, FMITI.
Speaking at the 2nd Quarter 2026 Meeting of the AfCFTA Central Coordination Committee (CCC) held in Abuja on Tuesday, 9th June,2026, the Honourable Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole said the financing facility presents a significant opportunity for Nigerian companies seeking to expand operations, modernize production, and increase exports across African markets.
Dr. Oduwole noted that while Nigeria has made substantial progress in implementing AfCFTA, many businesses still face challenges relating 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 programmes, and strengthened collaboration with key agencies, including the Nigeria Customs Service and the Nigerian Export Promotion Council (NEPC).
The Minister also stressed the importance of strengthening Nigeria’s legal and regulatory framework through the domestication of critical AfCFTA protocols, particularly the Digital Trade Protocol, to position the country as a leading player in Africa’s rapidly expanding digital economy.
Highlighting recent achievements, Dr. Oduwole pointed to the expansion of Nigeria’s Air Cargo Corridor Initiative to Rwanda, increased collaboration with development partners and the private sector, and ongoing sub-national engagements designed to deepen awareness and participation in AfCFTA opportunities across the country.
In her welcome address and first-quarter update, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, congratulated Dr. Oduwole on her recent appointment as Chairman of the AfCFTA Council of Ministers, describing it as a reflection of Nigeria’s growing influence in continental trade integration.
Okala reported that the recent AfCFTA sensitization engagements in Kano attracted more than 470 businesses, including strong participation by women-led enterprises.
She added that the newly launched AfCFTA ABC Series is helping businesses better understand export procedures and take advantage of opportunities within the continental market.
Providing details of the AfCFTA Adjustment Fund Credit Facility, Okala explained that the US$1 billion financing window targets large African businesses with a minimum financing capacity of US$10 million.
According to her, the facility will support business expansion, modernization, working capital requirements, project development, industrialization efforts, and regional value chain integration.
She disclosed that the National AfCFTA Coordination Office is working closely with fund managers to facilitate access for qualified Nigerian companies and is assembling a pilot group of businesses to ensure the country maximizes the available financing opportunities.
Also speaking at the meeting, 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 digitized, enabling businesses to register online from anywhere in the country.
According to him, successful applicants receive an Exporter’s Certificate valid for two years, granting 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, Nigeria Customs Service, government agencies, private sector representatives, and development partners for their continued support.
He emphasized the need for sustained collaboration, stakeholder engagement, and effective policy implementation to ensure Nigeria fully realizes the benefits of AfCFTA.
The meeting ended with renewed commitments from stakeholders to strengthen inter-agency collaboration, expand opportunities for women and youth entrepreneurs, increase utilization of AfCFTA market access provisions, and deepen Nigeria’s participation in regional and continental value chains.
Participants also reaffirmed their support for Nigeria’s preparations for key continental engagements scheduled for June and July 2026, with a shared objective of increasing exports, attracting investment, driving industrial growth, and creating jobs.
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