The African Export-Import Bank (Afreximbank) has signed a $75m financing agreement with the Development Bank of Nigeria (DBN) to expand credit opportunities for small and medium-sized enterprises across the country.
The funding is expected to strengthen the capacity of Nigerian businesses, particularly those operating in the creative industry and export-oriented sectors, to expand production, acquire equipment and explore regional and international markets.
The agreement, according to a statement by Afreximbank on Wednesday, was executed during the 2026 Creative Africa Nexus (CANEX) Weekend in Lagos.
It was signed by Afreximbank's Executive Vice President, Intra-African Trade and Export Development, Kanayo Awani, and DBN's Managing Director and Chief Executive Officer, Tony Okpanachi.
The facility will be channelled through DBN's participating financial institutions to provide eligible businesses with funding for working capital, asset acquisition, export transactions and supply chain operations.
Beneficiaries are expected to include enterprises in fashion, film, music, design and other segments of Nigeria's creative economy.
Speaking on the partnership, Awani said the intervention was designed to tackle financing challenges limiting the growth of Nigerian SMEs and their ability to compete in international markets.
She noted that businesses required adequate capital to improve their productive capacity and position themselves to benefit from expanding trade opportunities.
Awani said the collaboration would go beyond funding by incorporating technical assistance, capacity development, export-readiness support and access to new markets.
She explained that the objective was to help local enterprises build sustainable business models, improve competitiveness and become active participants in regional and global export value chains.
As part of the initiative, Afreximbank and DBN will jointly implement a capacity-building programme for participating financial institutions to strengthen their ability to assess and finance businesses with export potential.
Beneficiary businesses will also be connected to Afreximbank's trade facilitation platforms, including the Pan-African Payment and Settlement System (PAPSS), MANSA, TRADAR and the African Trade Exchange.
The partnership will further provide market access opportunities through the Africa Buyer Programme, the African Trade and Distribution Company and the Intra-African Trade Fair.
Awani said the combination of financing and non-financial support would help Nigerian businesses identify potential buyers, access new markets and participate more effectively in cross-border commerce.
She added that the intervention was consistent with CANEX's mission to transform Africa's creative resources and talents into commercially successful enterprises.
Also commenting on the agreement, Okpanachi said the partnership represented another milestone in DBN's efforts to improve access to affordable financing for Nigeria's micro, small and medium-sized enterprises.
According to him, the facility would provide businesses with much-needed capital to strengthen their operations, increase productive capacity and develop sustainable competitive advantages.
He said the arrangement would particularly open up opportunities for enterprises in the creative and export-oriented sectors to overcome funding constraints and expand their market reach.
Okpanachi further highlighted the importance of the technical assistance and market access components, saying they would enhance the ability of financial institutions to support businesses looking to expand beyond Nigeria.
The agreement falls under Afreximbank's Export SME Development programme, which provides an integrated framework of financing, technical support and market access interventions to promote African businesses.
The 2026 CANEX Weekend, which took place from November 5 to 8 at the Wole Soyinka Centre for Cultural and Creative Arts in Lagos, attracted creative entrepreneurs, investors, buyers and policymakers from different parts of the continent to explore investment and commercial opportunities in Africa's creative industries.
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