Afreximbank and MDGIF Partner to Mobilise $500M for Nigeria’s Gas Infrastructure
The African Export-Import Bank (Afreximbank) and the Midstream and Downstream Gas Infrastructure Fund (MDGIF) have signed a landmark Memorandum of Understanding (MoU) to accelerate the development and modernisation of Nigeria’s gas infrastructure.
The agreement was signed on the sidelines of the Intra-African Trade Fair (IATF2025) by Mrs Helen Brume, Afreximbank’s Director and Global Head of Project and Asset-Based Finance, and Mr Oluwole Adama, Executive Director of MDGIF.
Under the MoU, both institutions will collaborate to mobilise up to US$500 million over the next four years. The funding, structured as a blend of senior debt and equity, will support midstream and downstream projects aimed at strengthening Nigeria’s energy sector.
Key areas of cooperation include project identification, debt and equity financing, feasibility studies, environmental assessments, and capacity building. Afreximbank will also provide credit risk guarantees and leverage platforms such as IATF to promote MDGIF’s initiatives.
Mrs Kanayo Awani, Afreximbank’s Executive Vice President for Intra-African Trade and Export Development, hailed the agreement as a “significant milestone” for Africa’s industrialisation drive.
“By combining Afreximbank’s expertise in trade and project finance with MDGIF’s national investment reach, we are unlocking new opportunities for inclusive growth and sustainable development across Nigeria and West Africa,” she said.
Mr Adama stressed that the partnership was aligned with President Bola Ahmed Tinubu’s agenda to harness Nigeria’s gas resources for industrialisation and job creation.
“This collaboration will reduce gas flaring, expand critical infrastructure, and deliver sustainable energy solutions that power industries and improve livelihoods,” he said.
The MoU signing was witnessed by Nigeria’s Minister of State for Petroleum Resources (Gas), who described the deal as pivotal in building a pipeline of bankable projects supported by feasibility studies and risk-sharing mechanisms.
The announcement came during IATF2025, which drew over 112,000 participants, generated more than $48 billion in trade deals, and featured 2,100 exhibitors alongside 20 Heads of State and senior government officials.
