Dike Onwuamaeze
The African Export-Import Bank (Afreximbank) has accepted a $30 million financing facility for the Nigeria Export-Import Bank (NEXIM) to enhance entry to funding for export-oriented small and medium enterprises (SMEs), strengthen industrial manufacturing and increase Nigeria’s participation in intra-African commerce.
The facility was formalised by a signing ceremony in the course of the opening of the 2026 Creative Africa Nexus Weekend (CANEX WKND) in Lagos.
According to a press release issued yesterday, the financing package deal contains a $20 million revolving working capital facility and a $10 million medium-to-long-term mortgage facility.
NEXIM revealed that the approval was a big milestone that bolstered confidence in Nigeria’s export financing ecosystem and the financial institution’s function in supporting the federal authorities’s export diversification agenda.
The facility was anticipated to help companies concerned in exports, intra-African commerce, manufacturing, commodity processing and value-added manufacturing, whereas strengthening Nigeria’s place in continental commerce beneath the African Continental Free Trade Area (AfCFTA).
It was additionally anticipated to present much-needed financing for SMEs, stimulate industrial manufacturing, increase export capability and create employment alternatives throughout strategic sectors of the financial system.
Beyond the financing, beneficiary companies would have entry to capacity-building programmes, export-readiness initiatives and Afreximbank’s commerce facilitation platforms, together with MANSA, TRADAR Club and the Pan-African Payment and Settlement System (PAPSS).
The platforms have been designed to increase market entry and enhance the participation of African companies in regional and continental commerce.
The approval aligned with the federal authorities’s dedication to increasing non-oil exports, strengthening SME competitiveness, deepening industrialisation, creating sustainable employment and enhancing overseas alternate earnings.
NEXIM, Nigeria’s export credit score company, was mandated to promote the diversification of the nation’s export base by financing, ensures, insurance coverage and advisory companies to export-oriented companies.
