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

Dike Onwuamaeze The African Export-Import Bank (Afreximbank) has approved a $30 million financing facility for the Nigeria Export-Import Bank (NEXIM) to improve access to funding for export-oriented small and medium enterprises (SMEs), strengthen industrial production and boost Nigeria’s participation in intra-African trade. The facility was formalised through a signing ceremony during the opening of the 2026 Creative Africa Nexus Weekend (CANEX WKND) in Lagos. According to a statement issued yesterday, the financing package comprises a $20 million revolving working capital facility and a $10 million medium-to-long-term loan facility. NEXIM revealed that the approval was a significant milestone that reinforced confidence in Nigeria’s export financing ecosystem and the bank’s role in supporting the federal government’s export diversification agenda. The facility was expected to support businesses involved in exports, intra-African trade, manufacturing, commodity processing and value-added production, while strengthening Nigeria’s position in continental trade under the African Continental Free Trade Area (AfCFTA). It was also expected to provide much-needed financing for SMEs, stimulate industrial production, expand export capacity and create employment opportunities across strategic sectors of the economy. Beyond the financing, beneficiary businesses would have access to capacity-building programmes, export-readiness initiatives and Afreximbank’s trade facilitation platforms, including MANSA, TRADAR Club and the Pan-African Payment and Settlement System (PAPSS). The platforms were designed to expand market access and improve the participation of African businesses in regional and continental trade. The approval aligned with the federal government’s commitment to expanding non-oil exports, strengthening SME competitiveness, deepening industrialisation, creating sustainable employment and enhancing foreign exchange earnings. NEXIM, Nigeria’s export credit agency, was mandated to promote the diversification of the country’s export base through financing, guarantees, insurance and advisory services to export-oriented businesses.