• Jumoke Oduwole
The Minister of Industry, Trade and Investment, Jumoke Oduwole disclosed that the Federal Government has opened a $1billion AfCFTA Adjustment Fund Credit Facility designed to boost production, competitiveness, and intra-African trade.
The Minister stated this on Tuesday during the second-quarter 2026 meeting of the AfCFTA Central Coordination Committee held in Abuja.
Oduwole, the Chair of the AfCFTA Council of Ministers, said that the financing facility represented a major opportunity for Nigerian businesses seeking to expand operations, modernise production process and intra-African trade.
She noted that despite the progress Nigeria had made in implementing the continental trade agreement, many local businesses continued to face obstacles that limited their ability to take advantage of the single African market.
Providing details of the $1bn AfCFTA Adjustment Fund Credit Facility, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, said that the facility is targeted at large African businesses with a minimum financing capacity of $10m.
She revealed that the National AfCFTA Coordination Office was working closely with fund managers to facilitate access for eligible Nigerian companies and had begun assembling a pilot group of businesses to ensure that Nigeria maximised the opportunities provided by the facility.
Also a Deputy Director at the Nigerian Export Promotion Council, Mr Njoku, reiterated that registration with the council remained compulsory for all exporters operating in Nigeria.
He announced that the registration process had been fully digitised, enabling businesses across the country to complete the exercise online.
According to him, successful applicants receive an Exporter’s Certificate valid for two years, granting them access to incentives such as the Export Expansion Grant and the Export Development Fund.
