The Federal Government of Nigeria has announced the creation of the country’s first National Export Trading Company, a strategic initiative aimed at increasing non-oil exports and empowering micro, small, and medium-sized enterprises (MSMEs) to engage in international trade under the African Continental Free Trade Area (AfCFTA).
The project is a joint effort between the Federal Ministry of Industry, Trade and Investment, the Nigeria Commodity Exchange, Afreximbank, and the Africa Trade and Distribution Company (ATDC). The initiative was unveiled by Jumoke Oduwole, Nigeria’s Minister of Trade, during the West Africa Economic Summit (WAES) in Abuja.
Described as a “structural intervention,” the trading company is designed to streamline and scale up the export of Nigerian goods by providing essential services such as: Market intelligence, Logistics and aggregation, Export financing and Support for meeting global standards
According to Minister Oduwole, the company aims to remove major barriers that have long hindered Nigerian exporters, especially MSMEs. By offering end-to-end support, the trading company will improve competitiveness and attract international investors.
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The new trading company will operate under the Africa Trade and Distribution Company (ATDC), a continental initiative launched by Afreximbank to facilitate intra-African trade and transform Africa’s industrial landscape through the AfCFTA framework.
