The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has opened applications for a $150 million offshore financing facility aimed at helping eligible Nigerian businesses expand through long-term funding.

The facility, launched in partnership with German banking group ODDO BHF SE, offers loans starting from $10 million at single-digit interest rates, with repayment periods of at least 7.5 years.

According to information published on NACCIMA’s website, applications are now being accepted through a dedicated online portal.

To qualify for the financing, applicants must be legally registered companies in Nigeria with at least three years of audited financial statements. They must also comply with Environmental, Social and Governance (ESG) standards and be verified financial members of a recognised organised private sector association.

Eligible associations include NACCIMA, 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 recognised chamber of commerce affiliated with NACCIMA.

The financing programme targets businesses operating in 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, retail and trade.

NACCIMA also disclosed that 20 per cent of the financing facility has been reserved for digital economy projects.

How to apply

Applicants must first create an account on the NACCIMA application portal before completing the registration process. They will be required to provide:

Company details

CEO or Managing Director’s name

Registered company name

CAC registration number

Date of incorporation

Tax Identification Number (TIN)

Registered and operational addresses

Contact details

Primary contact person

Designation

Official email address

Phone number

Chamber membership

Applicants must provide:

Chamber affiliation

Membership registration ID

Trustmark ID, where applicable

Business information

Businesses will also be asked to provide:

Primary business sector

Number of employees

Annual turnover

Gender composition of workforce

Staff age distribution

Financing request

Applicants must state:

Project title

Purpose of the financing

Brief project description

Total amount requested, with a minimum of $10 million

Percentage allocated to European procurement

Target market

Description of European machinery, equipment, technology or services to be acquired

Proposed European country of origin

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Under the programme, between 35 and 50 per cent of the financing must be used to purchase approved machinery, equipment, technology or services from Europe.

Applicants are also expected to provide financial information, including paid-up capital, turnover for the last three years, current debt exposure, classified debt and EBITDA reports covering the same period.

Required documents include a signed letter of intent, project summary, CAC certificate of incorporation, audited financial statements for three years, proof of chamber membership, Tax Clearance Certificates for the last three years, ownership and management profile, identification documents of directors and shareholders, and an ESG sustainability policy, where available.

Before submitting an application, businesses must declare that the facility will not be used for defence, military or speculative trading. They must also confirm that at least 35 per cent of the financing will be spent on European procurement, that the information supplied is accurate, that the company complies with ESG standards, and that they consent to data processing under the Nigeria Data Protection Act.

According to NACCIMA, the financing initiative is aimed at improving access to long-term international capital, strengthening Nigeria’s industrial capacity and enhancing the competitiveness of local businesses in regional and global markets.