Nigeria is stepping up efforts to position local businesses for success under the African Continental Free Trade Area (AfCFTA), unveiling access to a $1 billion AfCFTA Adjustment Fund Credit Facility aimed at strengthening export capacity, boosting industrial production and expanding trade across Africa.

The initiative was highlighted by the Minister of Industry, Trade and Investment, Jumoke Oduwole, during the second-quarter 2026 meeting of the AfCFTA Coordination Committee in Abuja.

The financing programme is expected to support Nigerian manufacturers, exporters and small businesses seeking to modernise operations, improve competitiveness and increase their footprint across the continent’s rapidly expanding consumer market.

Addressing barriers to export growth

While Nigeria has made progress in implementing AfCFTA, businesses continue to face hurdles ranging from export documentation and product certification to standards compliance and market access.

According to Oduwole, the Federal Government is working to remove these bottlenecks through trade facilitation reforms, simplified AfCFTA guidance tools, stakeholder engagement initiatives and deeper collaboration with agencies including the Nigeria Customs Service and the Nigerian Export Promotion Council.

The measures form part of a broader strategy to increase non-oil exports, strengthen industrial capacity and improve Nigeria’s position within Africa’s evolving trade landscape.

Nigeria strengthens leadership role in African trade

In her quarterly update, National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Patience Okala, said Nigeria’s growing influence in continental trade policy was reflected in Oduwole’s recent appointment as Chair of the AfCFTA Council of Ministers.

Okala also noted rising private-sector participation in AfCFTA programmes. Recent sensitisation campaigns in Kano attracted more than 470 businesses, including a significant number of women-led enterprises exploring opportunities in regional markets.

Why AfCFTA matters

The African Continental Free Trade Area remains one of the most ambitious economic integration projects globally. The agreement brings together 54 African countries into a single market of more than 1.4 billion people with a combined gross domestic product exceeding $3.4 trillion.

As a flagship initiative under Africa’s Agenda 2063 development framework, AfCFTA seeks to accelerate intra-African trade, strengthen regional value chains and enhance Africa’s competitiveness in global commerce.

For Nigeria, the new $1 billion financing facility represents a strategic effort to help domestic businesses scale production, expand exports and capture a larger share of opportunities emerging from Africa’s largest free-trade zone.