The Federal Government has restated its commitment to strengthening Nigeria’s export-driven economic strategy under the African Continental Free Trade Area (AfCFTA), unveiling a major financing opportunity aimed at expanding business capacity and boosting trade across Africa.
The announcement came during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee held in Abuja, where officials outlined new efforts to deepen Nigeria’s participation in the continental market and remove barriers limiting exporters.
$1bn Adjustment Fund Opens New Financing Path for Businesses
At the centre of the discussions was a $1 billion AfCFTA Adjustment Fund Credit Facility designed to support African businesses with access to long-term financing.
The facility is expected to help firms scale production, improve competitiveness, and expand their reach across intra-African markets.
Minister of Industry, Trade and Investment, Jumoke Oduwole, said the initiative represents a significant opportunity for Nigerian companies looking to modernise operations and increase exports.
According to her, the funding window is particularly targeted at large-scale enterprises capable of utilising significant capital to expand their production base and compete within a unified African market.
Government Moves to Tackle Trade Barriers Facing Exporters
Despite progress under AfCFTA implementation, officials acknowledged that Nigerian businesses still face persistent challenges in accessing export opportunities.
Key issues highlighted include complex export documentation processes, certification requirements, standards compliance difficulties, and limited market access.
The minister explained that government is responding with a combination of trade facilitation reforms, simplified guidance tools for exporters, and closer collaboration with key institutions such as the Nigeria Customs Service and the Nigerian Export Promotion Council (NEPC).
Legal Reforms and Digital Trade Push Highlighted
Oduwole also emphasised the importance of strengthening Nigeria’s legal and regulatory framework to align with AfCFTA protocols.
She pointed particularly to the need for domesticating the Digital Trade Protocol, which she said would position Nigeria more competitively within Africa’s rapidly growing digital economy.
The government believes such reforms will help reduce friction in cross-border trade and enable Nigerian firms to take advantage of emerging digital export channels.
Expansion of Export Corridors and Private Sector Engagement
Officials also outlined progress made in expanding Nigeria’s export infrastructure, including the extension of the Air Cargo Corridor Initiative to Rwanda.
Increased collaboration with development partners, private sector stakeholders, and state governments was also cited as a key driver in improving awareness of AfCFTA opportunities.
These efforts, according to the ministry, are gradually improving Nigeria’s readiness to compete in a more integrated African market.
Nigeria Strengthens Role in AfCFTA Coordination
The National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, used the meeting to highlight growing participation from the private sector.
She noted that recent sensitisation programmes in Kano attracted more than 470 businesses, including a strong showing from women-led enterprises, reflecting rising interest in cross-border trade opportunities.
Okala also pointed to the launch of the AfCFTA ABC Series, a capacity-building initiative designed to help businesses better understand export procedures and navigate continental trade systems.
Export Registration and Compliance Systems Fully Digitised
Representing the Nigerian Export Promotion Council, Mr Njoku reiterated that registration with the agency remains mandatory for all exporters operating in Nigeria.
He confirmed that the registration process has now been fully digitised, allowing businesses to complete documentation online and obtain an Exporter’s Certificate valid for two years.
The certificate also provides access to incentives such as the Export Expansion Grant and the Export Development Fund, which are designed to support business growth and export competitiveness.
Stakeholders Call for Stronger Collaboration and Policy Implementation
Closing the meeting, government representatives and stakeholders jointly reaffirmed the need for stronger inter-agency coordination to ensure effective implementation of AfCFTA-related policies.
They emphasised that improved collaboration between public institutions, private operators, and development partners is essential to unlocking the full benefits of the continental trade agreement.
Participants also expressed renewed commitment to expanding opportunities for women and youth entrepreneurs, improving export participation, and strengthening Nigeria’s position in regional and continental value chains.
AfCFTA Seen as Key Driver of Africa’s Economic Integration
AfCFTA, which began trading in 2021, remains the world’s largest free trade area by number of participating countries, uniting 54 African nations into a single market of more than 1.4 billion people.
Nigeria formally joined the Guided Trade Initiative in 2024 and has since intensified efforts to boost non-oil exports and reduce dependence on crude oil revenues.
While officials view the agreement as a major opportunity for industrial growth and job creation, stakeholders continue to point to structural challenges such as limited access to finance, logistics constraints, and gaps in export knowledge.
The newly launched $1 billion Adjustment Fund Credit Facility is expected to play a key role in addressing some of these constraints and improving the global competitiveness of Nigerian and African businesses.
