The African Export-Import Bank (Afreximbank) and the Midstream and Downstream Gas Infrastructure Fund (MDGIF) have signed a strategic partnership to raise $500 million for the development of gas infrastructure in Nigeria.
The agreement, signed on the sidelines of the Intra-African Trade Fair (IATF 2025), is expected to accelerate midstream and downstream projects, expand gas utilisation, reduce flaring, and drive industrialisation in line with President Bola Tinubu’s economic agenda.
Director of Project and Asset-Based Finance at Afreximbank, Mrs. Helen Brume, signed on behalf of the bank, while MDGIF’s Executive Director, Mr. Oluwole Adama, signed on behalf of the fund.
Under the memorandum of understanding (MoU), Afreximbank will provide: Credit risk guarantees, project preparatory support, capacity-building programmes to strengthen institutional expertise in the gas sector
Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, hailed the partnership as a “game-changer,” noting that it would create a pipeline of bankable projects and unlock investment in pipelines, processing facilities, liquefied natural gas (LNG), and other critical infrastructure.
