NEXIM Secures $30m Afreximbank Facility to Finance Export-oriented SMEs

The Nigeria Export-Import Bank (NEXIM) has secured a $30 million financing facility from the African Export-Import Bank (Afreximbank) to aid export-oriented small and medium enterprises (SMEs) in Nigeria. This initiative aims to bolster industrial production, enhance Nigeria's involvement in intra-African trade, and support the country's export diversification agenda under the African Continental Free Trade Area (AfCFTA).

The $20 million revolving working capital facility and $10 million medium-to-long-term loan facility were formally announced during the opening of the 2026 Creative Africa Nexus Weekend (CANEX WKND) in Lagos. NEXIM highlighted that this milestone underscores confidence in Nigeria's export financing system and the bank's role in supporting the federal government's export diversification strategy.

The funding will benefit businesses engaged in exports, intra-African trade, manufacturing, commodity processing, and value-added production. It is expected to boost Nigeria's trade position within the continent and provide crucial financing for SMEs, stimulate industrial output, expand export capabilities, and generate employment in key economic sectors.

Beneficiary businesses will also gain access to capacity-building programs, export-readiness initiatives, and Afreximbank's trade facilitation platforms, such as MANSA, TRADAR Club, and the Pan-African Payment and Settlement System (PAPSS). These tools are designed to enhance market access and strengthen African businesses' participation in regional and continental trade.

This approval aligns with the Nigerian government's dedication to boosting non-oil exports, improving SME competitiveness, advancing industrialization, fostering sustainable employment, and increasing foreign exchange earnings.