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Business
September 15, 2025 by Our Reporter
The African Export-Import Bank (Afreximbank) and the Midstream and Downstream Gas Infrastructure Fund (MDGIF) have entered into 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. MDGIF’s Executive Director, Mr. Oluwole Adama, signed on behalf of the fund.
The deal was facilitated by Cedrus Group Africa.
Under the memorandum of understanding (MoU), Afreximbank will provide credit risk guarantees, project preparatory support and capacity-building programmes to strengthen institutional expertise in the gas sector.
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, described the partnership as a game-changer, saying it would create a pipeline of bankable projects and unlock investment in pipelines, processing facilities, LNG and other critical infrastructure.
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“Through this partnership, we are unlocking the potential to mobilise up to USD 500 million over the next four years for Nigeria’s gas infrastructure.
More importantly, we are creating a pipeline of bankable projects, supported by feasibility studies, project preparation, and risk-sharing mechanisms, that will accelerate the pace of investment in pipelines, processing facilities, LNG, and other critical infrastructure.”
Executive Vice President, Intra-African Trade and Export Development, Afreximbank, Mrs. Kanayo Awani, said the MoU would open new opportunities for inclusive growth and sustainable development in Nigeria and the West African sub-region.
Adama, noted that the fund, anchored on the Petroleum Industry Act and Tinubu’s agenda, would mobilise capital, expand critical gas infrastructure and deliver sustainable energy solutions.
Cedrus Group Africa’s CEO, Olubusayo Adeniyi, pledged commitment to translating the agreement into tangible outcomes through private capital mobilisation and bankable project structuring.
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