Abuja: The Federal Government has announced the launch of a $1 billion AfCFTA Adjustment Fund Credit Facility designed to enhance production, competitiveness, and intra-African trade. Dr. Jumoke Oduwole, Minister of Industry, Trade and Investment, disclosed this development during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee (CCC) held in Abuja.
According to News Agency of Nigeria, Oduwole reiterated the government’s commitment to accelerating Nigeria’s export-led growth agenda under the African Continental Free Trade Area (AfCFTA). She emphasized that the Federal Government is making concerted efforts to improve trade facilitation, export competitiveness, and market access within the AfCFTA framework.
The minister highlighted the government’s initiatives to fortify institutions and businesses, aiming to maximize the benefits of the AfCFTA agreement. She noted that Nigeria is advancing reforms to enhance participation and is making steady progress in implementing the agreement. The minister also commended the committee members for their dedication to advancing Nigeria’s implementation of the continental trade agreement.
Oduwole further explained that the committee embodies a comprehensive approach to AfCFTA implementation, uniting various institutions responsible for trade, customs administration, standards, investment promotion, and export development. The minister announced the opening of an additional air cargo corridor with Rwanda Air on May 25 to improve regional trade connectivity.
Stakeholder engagements have intensified nationwide, particularly at the sub-national level. The government’s initiatives are focused on exporters, Micro, Medium, and Small Enterprises (MSMEs), women-owned businesses, and youth entrepreneurs. Oduwole described AfCFTA as a significant economic integration project, covering over 1.4 billion people with a combined GDP exceeding three trillion dollars.
Despite the progress, challenges remain in areas such as certification, export documentation, standards compliance, and market access procedures. The simplified initiative under AfCFTA aims to help businesses better understand and navigate these trade requirements. Ongoing efforts include operationalizing AfCFTA legal frameworks and domesticating relevant protocols, such as the Digital Trade Protocol.
Looking ahead, the minister urged stakeholders to maintain momentum as Nigeria prepares for its first AfCFTA week, scheduled from the end of June to the first week of July. Key events include the AfCFTA conference on June 29, the AfCFTA Council of Ministers meeting on June 30, and the Digital Trade Forum from July 1 to 3. The AfCFTA Week aims to boost exports, industrial growth, and job creation.
Ms. Patience Okala, National Coordinator/CEO of the Nigeria AfCFTA Coordination Office, reported significant progress in implementing the AfCFTA through coordinated actions and stakeholder engagement. A sub-national engagement in Kano attracted 470 businesses, providing insights into opportunities and constraints for improving Nigeria’s regional market competitiveness.
Dr. Chris Isokpunwu, Permanent Secretary of the ministry, emphasized the committee’s ongoing efforts to strengthen stakeholder engagement, expand awareness, and enhance institutional coordination across various agencies involved in AfCFTA implementation.