The Federal Government has announced access to a $1 billion African Continental Free Trade Area (AfCFTA) Adjustment Fund Credit Facility aimed at supporting Nigerian businesses, boosting production, enhancing competitiveness, and expanding intra-African trade.
The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, disclosed this on Tuesday during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee (CCC) in Abuja.
Oduwole said the initiative forms part of the Federal Government’s broader strategy to accelerate export-led growth and position Nigerian businesses to take full advantage of opportunities presented by the AfCFTA.
She reiterated the government’s commitment to improving trade facilitation, export competitiveness, and market access while strengthening institutions and businesses to participate effectively in the continental market.
According to the minister, Nigeria has continued to make steady progress in implementing the AfCFTA agreement and enhancing its readiness to maximise the benefits of Africa’s integrated market.
She commended members of the Central Coordination Committee for their dedication to advancing Nigeria’s implementation of the trade pact, noting that the committee embodies a whole-of-government and whole-of-economy approach to trade integration.
“The committee brings together institutions responsible for trade, customs administration, standards, investment promotion, export development, legal reforms, and stakeholder engagement across the country,” she said.
As part of efforts to improve regional trade connectivity, Oduwole revealed that an additional air cargo corridor was launched with RwandaAir on May 25, creating new opportunities for exporters and facilitating the movement of goods across African markets.
She also disclosed that stakeholder engagements have been intensified nationwide, particularly at the sub-national level, to increase awareness and participation in the AfCFTA framework.
The minister said the government is simplifying AfCFTA procedures through practical guidance tools and awareness programmes targeted at exporters, Micro, Small and Medium Enterprises (MSMEs), women-owned businesses, and youth entrepreneurs.
Describing the AfCFTA as one of the continent’s most ambitious economic integration projects, Oduwole noted that the agreement covers more than 1.4 billion people and a combined Gross Domestic Product (GDP) exceeding $3 trillion.
She acknowledged that many businesses still face challenges related to certification, export documentation, standards compliance, and market access procedures, adding that ongoing reforms are designed to address these barriers.
The minister further highlighted efforts to operationalise AfCFTA legal frameworks and domesticate critical protocols, including the Digital Trade Protocol, to support seamless cross-border trade.
Looking ahead, Oduwole announced plans for Nigeria’s first AfCFTA Week, scheduled from late June to early July 2026.
She said the AfCFTA Conference will take place on June 29, followed by the AfCFTA Council of Ministers meeting on June 30, while the Digital Trade Forum is scheduled for July 1 to 3.
The minister urged stakeholders to sustain collaboration and intensify efforts to leverage the opportunities offered by the continental trade agreement to drive exports, industrialisation, and job creation.
Also speaking, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Ms. Patience Okala, said Nigeria has recorded significant milestones in implementing the agreement through coordinated actions and sustained stakeholder engagement.
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Okala disclosed that a recent AfCFTA sub-national engagement held in Kano attracted 470 businesses, including manufacturers, exporters, women-owned enterprises, and youth entrepreneurs from the North-West region.
According to her, the engagement provided valuable insights into opportunities and constraints facing businesses seeking to compete in regional markets.
She assured that the government would continue to support businesses through the AfCFTA Adjustment Fund while expanding access to financing, new markets, and regional value chains.
In his remarks, the Permanent Secretary of the Ministry of Industry, Trade and Investment, Dr. Chris Isokpunwu, said the committee would continue to deepen stakeholder engagement, strengthen awareness campaigns, and improve institutional coordination among agencies responsible for AfCFTA implementation.
He expressed confidence that the ongoing reforms would enhance Nigeria’s competitiveness and enable businesses to benefit more fully from Africa’s evolving trade landscape.
