Afreximbank Provides $75 Million Financing to Boost Nigerian SMEs, Exports and Creative Industries

Nigerian small and medium-sized businesses are set to benefit from expanded financing opportunities following a $75 million agreement between the African Export-Import Bank and the Development Bank of Nigeria.

The facility is designed to support entrepreneurs operating in productive industries, with particular attention to creative businesses and companies seeking access to international markets.

According to Punch Newspapers, the financing agreement was signed during the Creative Africa Nexus Weekend 2026 in Lagos.

The partnership represents another effort to address financing barriers that limit the expansion of Nigerian enterprises.

How the $75 Million Facility Will Work

Under the arrangement, Afreximbank will provide financing through the Development Bank of Nigeria’s network of participating financial institutions.

The funds are intended to support working capital, equipment purchases, business expansion, export financing and supply-chain activities.

This approach will enable qualified enterprises to seek financing through participating institutions rather than assuming that Afreximbank will lend directly to every business applicant.

The initiative also includes support for financial institutions to strengthen their ability to evaluate and finance export-oriented businesses.

Creative Businesses Among Key Beneficiaries

Nigeria’s creative economy has gained considerable international recognition through music, film, fashion and design.

However, businesses operating in these industries often face difficulties obtaining financing from conventional lenders.

Some creative enterprises generate revenue through intellectual property, contracts and future royalties rather than physical assets that banks traditionally accept as security.

The new facility is expected to provide financing opportunities for eligible companies across several creative sectors.

This could support production expansion, equipment acquisition and the development of new commercial opportunities.

Supporting Nigerian Exporters

Another important objective of the agreement is to help Nigerian businesses compete in regional and international markets.

Afreximbank plans to complement the funding with capacity-building initiatives and access to selected trade platforms.

These include the Pan-African Payment and Settlement System, MANSA, TRADAR and other African trade-support services.

The bank is also expected to provide market-access opportunities through programmes connecting African producers with international buyers.

For businesses seeking to export goods and services, these resources could help address challenges relating to market information, financing and cross-border transactions.

What This Means for Entrepreneurs

Access to suitable financing can help businesses purchase machinery, increase production and fulfil larger customer orders.

For manufacturers, long-term investment in equipment can improve efficiency and production capacity.

Creative businesses may use additional capital to finance content production, expand distribution and develop commercially viable intellectual property.

Export-oriented enterprises could benefit from financing designed around international trade cycles.

However, the facility does not guarantee automatic loan approval. Applicants will still need to satisfy the requirements of participating lenders.

Beyond Financing: Building Competitive Businesses

Afreximbank Executive Vice President Kanayo Awani and DBN Managing Director Tony Okpanachi highlighted the importance of combining financing with business development support.

The initiative aims to help Nigerian enterprises strengthen their operations while developing the capabilities needed to enter new markets.

This wider approach recognises that access to capital alone may not resolve every challenge facing growing businesses.

The Bigger Picture

The $75 million partnership could provide important support for Nigeria’s entrepreneurial and export sectors.

It also reinforces the growing interest in developing African businesses capable of competing beyond domestic markets.

The programme’s long-term success will depend on the accessibility of financing, its cost, the quality of business support provided and the commercial results achieved by participating enterprises.

For Nigerian entrepreneurs, the agreement represents a potentially valuable opportunity to access additional financing and strengthen business competitiveness.