Thirty million dollars is now on the table for Nigerian small businesses with something to sell to the world. The Nigeria Export-Import Bank, known as NEXIM, has secured a $30 million financing facility from the African Export-Import Bank, Afreximbank, with the goal of expanding export opportunities for small and medium-sized enterprises across Nigeria.
The partnership brings together two of Africa's key trade finance institutions, signaling a shared commitment to pushing Nigerian-made goods and services onto the global stage. For SMEs, access to export financing has long been one of the biggest barriers to scaling beyond local markets, and this facility is designed to close that gap.
Details on exactly which sectors or business categories will benefit most are still emerging, but the direction is clear: Nigeria wants its small businesses competing internationally, and this funding is a concrete step toward making that happen. Watch this space.
Originally published by BusinessDay.