NACCIMA opens $150m offshore expansion facility
The Nigerian Association of Chambers of Commerce has opened applications for a $150 million offshore facility offering long-term capital at single-digit rates for Nigerian businesses.
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has opened applications for its $150 million Offshore Expansion Facility, a financing initiative designed to provide long-term capital for Nigerian businesses seeking to scale operations and acquire modern technology. The facility, developed in partnership with German banking group ODDO BHF SE, was unveiled during the Infrastructure Conference (INFRACON) 2026 held at the AFREXIM Tower in Abuja.
Speaking at the launch, Jani Ibrahim, NACCIMA president, said the initiative reflects the association’s commitment to expanding access to affordable financing for the organised private sector and supporting industrial growth. Applications are being processed through a dedicated digital portal, with the next milestone in the programme scheduled for September 11.
The facility will provide qualified Nigerian enterprises with patient, long-term expansion capital at single-digit interest rates. Priority sectors include manufacturing (excluding defence), agro-allied processing, energy, logistics, mineral beneficiation and transportation, while 20 percent of the fund has been earmarked for businesses operating in the digital economy and ICT sector.
Waheed Olagunju, chairman of the Joint NACCIMA–ODDO BHF Working Group Committee and former managing director of the Bank of Industry, said the framework enables viable and environmentally compliant Nigerian firms to access financing beginning from a minimum of $10 million to acquire European machinery, equipment and technology required to expand production and improve competitiveness. “What we are launching today is a transparent, globally aligned investment origination pipeline as a demonstration of investors’ confidence in Nigeria’s economy,” Olagunju said.
Eligible companies can access facilities of at least $10 million with a minimum repayment tenure of 7.5 years. Beneficiaries are required to allocate between 35 and 50 percent of the financing towards the procurement of approved European goods, machinery, equipment and services, while the remaining funds may be deployed in Nigeria or other approved markets.
This mirrors the 2020s push for industrialisation financing, which has seen several initiatives aimed at providing long-term capital for Nigerian manufacturers. The mechanism then was different, but the result was the same: a recognition that access to affordable, long-term capital is essential for industrial growth.
The winners: Nigerian businesses that access the facility, which will gain long-term capital at single-digit rates; the Nigerian economy, which benefits from industrial growth; and NACCIMA, which has secured a significant partnership. The losers: businesses that do not qualify, which will miss out on the financing; and the Nigerian government, which must continue to create the enabling environment for industrial growth.
Bottom Line: Nigeria has launched a $150 million offshore expansion facility. The goal is to provide long-term capital at single-digit rates. The question is whether Nigerian businesses will take advantage of the opportunity or let it pass.