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NACCIMA Offers Firms $150m Low-interest Expansion Loan
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture has opened applications for a $150m offshore expansion facility designed to provide Nigerian businesses with long-term, single-digit interest financing for expansion and modernisation.
The association disclosed this in a statement issued on Sunday, saying eligible companies can now submit applications through a dedicated digital portal unveiled during the Infrastructure Conference 2026 held at the Afrexim Tower in Abuja.
According to the statement, the financing initiative was developed in partnership with Germany-based commercial banking group ODDO BHF SE to improve access to foreign capital for Nigerian businesses and strengthen the country’s organised private sector.
The statement read, “The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, under the leadership of Jani Ibrahim, has officially commenced applications for its $150m Offshore Expansion Facility, a financing initiative developed in collaboration with Germany’s ODDO BHF SE to support the growth and modernisation of Nigerian businesses.”
It said the platform represents a major step in digitising the origination of foreign direct investment for Nigerian enterprises.
The operational framework and application portal were jointly unveiled by the Chairman of the Joint NACCIMA-ODDO BHF Working Group Committee and former Managing Director of the Bank of Industry, Waheed Olagunju, and NACCIMA’s Digital Economy Coordinator and Chairman of the Digital Economy Trade Group, Segun Olugbile.
The statement said the facility would provide qualified Nigerian companies with access to patient, long-term expansion capital at single-digit interest rates.
It added that funding would prioritise manufacturing, excluding defence-related businesses, agro-allied processing, energy, logistics, mineral beneficiation and transportation, while 20 per cent of the total facility had been reserved for the digital economy and information and communication technology sector.
Speaking at the unveiling, Olagunju said the initiative was aimed at creating a transparent investment pipeline capable of attracting international investors while supporting the expansion of viable Nigerian companies.
“What we are launching today is a transparent, globally aligned investment origination pipeline as a demonstration of investors’ confidence in Nigeria’s economy,” he said.
Olagunju explained that the Joint NACCIMA-ODDO Committee had developed a framework to enable viable and environmentally compliant Nigerian businesses to obtain financing beginning from `$10m.
“The Joint NACCIMA-ODDO Committee has developed a rigorous framework that enables viable, ESG-compliant Nigerian enterprises to access capital, starting at a minimum of $`10 million, to acquire the European machinery, equipment, and technology needed to scale their operations,” he said.
The statement added that the digital application platform was built with bank-grade encryption and incorporated automated Know-Your-Customer verification processes to protect applicants’ financial information.
“To attract world-class European investment, our digital infrastructure must inspire absolute confidence and trust. This secure e-Portal has been developed with bank-grade encryption and complies with existing regulations. It automates Know-Your-Customer verification and integrates a secure framework to ensure that the proprietary financial information of applicants remains fully protected throughout the transaction process,” Olagunju added.
According to the statement, each successful applicant can access a minimum financing package of `$10m with a repayment tenure of at least seven and a half years.
It noted that beneficiaries would be required to commit between 35 and 50 per cent of the financing to procuring eligible machinery, equipment, goods and services from Europe, while the remaining funds could be deployed within Nigeria or other approved markets.
The association said only financially viable businesses with proven repayment capacity would qualify for the facility.
Applicants are required to submit at least three years of audited financial statements, demonstrate compliance with environmental, social and governance standards, and be verified financial members of recognised organised private sector associations, including NACCIMA, the Manufacturers Association of Nigeria, the Nigerian Association of Small and Medium Enterprises or the Nigerian Association of Small Scale Industrialists.
The statement described the initiative as part of NACCIMA’s broader efforts to establish credible international financing channels for Nigerian businesses.
“This initiative underlines NACCIMA’s commitment to building credible international financing pathways for Nigerian industries. By securing long-term capital through strategic global partnerships, we aim to enhance private sector competitiveness and drive sustainable industrial transformation across the nation,” the association stated.
NACCIMA said the financing programme is expected to support industrial expansion, technology acquisition, productivity improvement and increased competitiveness among Nigerian businesses seeking to scale operations through access to long-term foreign capital.
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Shettima, Okonjo-Iweala, Lumumba in Asaba for Delta Economic Summit
Vice President Kashim Shettima, World Trade Organization Director-General Ngozi Okonjo-Iweala and Kenyan scholar Prof. Patrick Lumumba have arrived in Asaba ahead of the Delta State Economic and Investment Summit scheduled for Monday.
The summit is expected to serve as a platform for driving economic transformation, boosting investor confidence, fostering strategic partnerships and attracting local and foreign direct investment into Delta State.
Shettima, who arrived on Sunday, was received at the Asaba International Airport by Delta State Governor Sheriff Oborevwori, alongside top government officials and political leaders.
The Vice President is expected to speak at the summit on how President Bola Tinubu’s Renewed Hope Agenda reforms have created opportunities for investment and business growth in Delta State.
Confirming the Vice President’s arrival in a Facebook post on Sunday, the Senior Special Assistant on Media to the Delta State Governor, Ossai Success, wrote: “Vice President Shettima Arrives Asaba Ahead of Delta State Economic And Investment Summit held tomorrow in Asaba.”
He added that “The Delta State Governor Rt Hon Sheriff Oborevwori led a delegation to receive the Vice President at the Asaba International Airport.”
Okonjo-Iweala also arrived in Asaba on Sunday ahead of the summit.
Announcing her arrival, Ossai wrote, “Touchdown Asaba is Dr. Ngozi Okonjo-Iweala Ahead of the Delta State Economic and Investment Summit 2026 Holding Tomorrow In Asaba. Come and Invest In Delta State.”
Also on Sunday, keynote speaker Prof. PLO Lumumba arrived in the Delta State capital.
According to Ossai, “Prof. Patrick Lumumba just arrived in Asaba ahead of the Delta State Economic and Investment Summit held tomorrow in Asaba.”
He added that “The Commissioner for Higher Education, Prof. Nyerhovwo Tonukari received the keynote Speaker, Prof. PLO Lumumba, ahead of the Delta State Economic and Investment Summit held tomorrow in Asaba.”
The Delta State Economic and Investment Summit is expected to bring together government officials, business leaders, investors and development partners to explore investment opportunities across key sectors of the state’s economy.
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Mbah, Musa, Others Extol Ogalla’s Service as Enugu Honours Ex-Naval Chief
From Sylvia Udegbunam, Enugu
Former Chief of the Naval Staff, Vice Admiral Emmanuel Ogalla (rtd), has been described as a patriot, a man of courageous, and exemplary officer whose career was defined by selfless service to Nigeria and an enduring commitment to national security and human capital development.
The encomiums were poured on the ex-service chief during a reception organised in his honour by the Enugu State Government to mark the successful completion of his tenure as Chief of the Naval Staff.
Speaking at the event, which took place at the International Conference Centre, Enugu, at the weekend, Governor Peter Mbah said that the former service chief earned the love of his people and colleagues through impactful leadership that transcended the ranks he wore and the offices he occupied.
“Rank gives you authority. It does not automatically earn devotion. Office can command respect. But neither can command love. That is earned quietly, over time, through relationships and by the way you treat people when no one is watching,” he stated.
He commended Ogalla’s commitment to security and human capital development, highlighting the establishment of a naval base at Ogurugu, Uzo Uwani Local Government Area, and Navy Secondary School, Umuopu, both in Igbo Eze North LGA of Enugu State.
“An operational naval base strengthens security today, and a naval school will help shape tomorrow’s leaders. One protects the present. The other invests in the future,” he said.
Mbah urged Nigerians to emulate the Ex-Naval chief’s exemplary service at their various levels of leadership.
The Minister of Defence, General Christopher Musa (rtd.), stressed that Ogalla’s military career was marked by professionalism, discipline, courage, innovation, patriotism and unwavering commitment to peace, repositioning the Navy as strategic partner in protecting the nation’s maritime interests.
“He is someone that transforms. His genius, integrity, discipline, and commitment to excellence earned him the respect of colleagues, supporters, and the nation,” Musa stated.
The minister emphasised his faith in the strategic import of the South East to Nigeria and commended the progress made by the region in general and Enugu State in particular under Governor Mbah’s leadership in the last three years.
“We are proud of the South East. And my joy is that the South East is getting it right. Within three years, we have seen massive changes across the South East,” he said.
The Chief of the Air Staff, Air Marshal Sunday Aneke, described Ogalla as a calm, humble, highly intelligent and dedicated officer whose exemplary leadership and professionalism had set a high standard in the Nigerian Navy.
Recalling their days together at the Nigerian Defence Academy and their decades of military service, Aneke said the former service chief’s character and achievements had inspired younger officers, noting that the outpouring of emotion during his pulling-out ceremony was a testament to the kind of leader he was.
“Sir, I want to thank you on behalf of the good people of Enugu State; you fought the good battle. You represented us well and we’re proud you’re our own,” he said.
He also commended Governor Mbah for organising the reception, saying, “If you don’t celebrate your own, nobody would do that for you.”
Chairman of the Enugu State Council of Traditional Rulers, Igwe Samuel Asadu, commended Governor Peter Mbah for fulfilling his promise to honour Ogalla and appreciated President Bola Tinubu for giving him the opportunity to serve as Chief of the Naval Staff.
As the traditional ruler representing Ogalla’s senatorial zone, Igwe Asadu stressed that the event was a powerful demonstration of gratitude, noting that there was no virtue greater than honouring those who had served their people and country faithfully.
Responding, Ogalla expressed immense gratitude to Enugu State, his family, military constituency, and friends for the love shown to him.
“I must specifically thank the Governor for organising this event. I must say that I am overwhelmed by what I have seen here today,” he stated.
He commended Mbah for his massive development strides and for adopting both kinetic and non-kinetic approaches in the fight against insecurity.
“I believe that what our Governor is doing is unprecedented. And I believe that we need to give him maximum support to help the people of Enugu State and Nigeria to grow.
“The modern concept of security is not just military might and weapons, but also human security, improving the capacity of the citizens, providing employment, providing education. And these are exactly what the Governor is taking as his priorities,” he emphasised.
He expressed special gratitude to President Bola Tinubu for the opportunity to rise to the pinnacle of his career and to actualise his dream to take the Nigerian Navy to greater heights.
The event was attended by serving and retired military chiefs and prominent leaders, including former President of the Senate, Senator Ken Nnamani; former Chief of the Naval Staff, Rear Admiral Allison Madueke (Retd.); former Chief of the Army Staff and former Chief of the Army Staff, Lt. Gen. Azubuike Ihejirika.
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Shettima, Jonathan, Mutfwang, Yilwatda Celebrate Jonah Jang at 80, Unveil Autobiography
From Jude Dangwam, Jos
The Vice President of Nigeria, Senator Kashim Shettima, former President Goodluck Ebele Jonathan, Plateau State Governor Caleb Manasseh Mutfwang, and the National Chairman of the All Progressives Congress (APC), Prof.
Nentawe Yilwatda, on Saturday joined other prominent Nigerians in celebrating former Plateau State Governor and elder statesman, Senator Jonah David Jang, as he marked his 80th birthday with the public presentation of his autobiography, Airman to Politics: My Life, in Jos.The event attracted political leaders across party lines, traditional rulers, clergy, diplomats, captains of industry, and other distinguished guests who gathered to honour Senator Jang’s decades of service in the military, politics, and public life.
In his remarks, Vice President Shettima described Jang as a leader whose life has been defined by sacrifice, courage, compassion, and unwavering commitment to peace and national unity. He urged younger Nigerians to embrace reconciliation instead of division and called on Plateau leaders to work together for lasting peace.
“I challenge the elites of Plateau, all seated here, to rally together and bring enduring peace to the state. Plateau possesses enormous opportunities. With the right mix of leadership, innovation, and unity, Plateau can become a model of national cohesion and prosperity,” he said.
Shettima added that Nigeria’s diversity should remain a source of strength rather than division. He also announced the appointment of Hon. Yakubu David Jang as Senior Special Assistant to President Bola Tinubu, describing the appointment as recognition of competence and service.
Former President Goodluck Jonathan described the occasion as a celebration of faith, service, leadership, and sacrifice, noting that Jang’s autobiography is more than a personal memoir, but an important contribution to Nigeria’s political history.
Recalling their working relationship, Jonathan praised the former governor’s commitment to Plateau State and national unity, saying, “Senator Jang is positively stubborn whenever he believes a decision is in the best interest of Plateau people,” describing the trait as evidence of principled and courageous leadership.
Governor Caleb Mutfwang paid glowing tribute to his predecessor, describing him as a father, mentor, and exemplary statesman whose leadership inspired his own political journey. He revealed that a private leadership conversation with Jang in 2016 significantly shaped his philosophy of governance.


