The Nigeria Export-Import Bank (NEXIM) has secured a $30 million financing facility from the African Export-Import Bank (Afreximbank) to expand access to credit for small and medium-sized enterprises (SMEs) engaged in export activities.

The facility is expected to support businesses in manufacturing, commodity processing, intra-African trade and value-added production, as Nigeria seeks to diversify its export base and strengthen its participation in continental trade.

According to a statement by NEXIM’s Corporate Communications Department, the financing agreement was formalized at a signing ceremony during the opening of the 2026 Creative Africa Nexus Weekend (CANEX WKND) in Lagos on Thursday.

The $30 million facility comprises a $20 million revolving working capital facility and a $10 million medium-to-long-term loan.

The working capital component is expected to provide businesses with funding for day-to-day operations, while the longer-term financing will support investment and expansion in export-oriented enterprises.

“The facility aims to support businesses in export, intra-African trade, manufacturing, commodity processing, and value-added production, while strengthening Nigeria’s role in continental trade under the African Continental Free Trade Area (AfCFTA).
The financing package comprises two tranches: $20 million revolving working capital facility, and $10 million medium-to-long-term term loan facility ,” the statement read.

NEXIM described the approval as a significant milestone that reinforces confidence in Nigeria’s export financing ecosystem and its role in supporting the Federal Government’s export diversification agenda.

The bank said the funding would help stimulate industrial production, increase export capacity and create employment opportunities across strategic sectors of the economy.

Beyond financing, beneficiary businesses are expected to receive capacity-building support, export-readiness programmes and access to Afreximbank’s trade facilitation platforms, including MANSA, TRADAR Club and the Pan-African Payment and Settlement System (PAPSS).

These platforms are designed to improve market access, facilitate cross-border payments and strengthen the participation of African businesses in regional and continental trade.

The facility also aligns with efforts to expand non-oil exports, improve the competitiveness of Nigerian SMEs, deepen industrialization and increase foreign exchange earnings.

NEXIM is Nigeria’s export credit agency, mandated to promote diversification of the country’s export base through financing, guarantees, insurance and advisory services for export-oriented businesses.