How to apply for NACCIMA’s $150m Nigerian business fund

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has opened applications for a significant $150 million offshore financing facility aimed at bolstering Nigerian businesses. This initiative, developed in collaboration with the German banking group ODDO BHF SE, provides substantial long-term funding to help eligible companies expand their operations.

Businesses can apply for loans starting at $10 million, benefiting from competitive single-digit interest rates and extended repayment periods of at least 7.5 years. NACCIMA has emphasized that applications are now being accepted through a dedicated online portal, making the process accessible to a wide range of enterprises across the country.

To qualify for this crucial funding, companies must meet several key criteria. They must be legally registered in Nigeria and possess at least three years of audited financial statements. Furthermore, adherence to Environmental, Social, and Governance (ESG) standards is mandatory. Applicants also need to be verified financial members of recognized organized private sector associations, including NACCIMA itself, the Manufacturers Association of Nigeria (MAN), the Nigerian Association of Small and Medium Enterprises (NASME), the Nigerian Association of Small Scale Industrialists (NASSI), or any chamber of commerce affiliated with NACCIMA.

The financing facility targets businesses operating in a diverse array of strategic sectors vital to Nigeria's economy. These include manufacturing, agriculture and agro-processing, energy and power, oil and gas, ICT and technology, logistics and transportation, infrastructure, mining and quarrying, healthcare, pharmaceuticals, real estate, telecommunications, tourism, consumer products, financial services, entertainment, and retail and trade. Notably, 20% of the facility is specifically reserved for digital economy projects, underscoring a commitment to fostering innovation in this rapidly growing area.