The African Export-Import Bank (Afreximbank) and Nigeria’s Midstream and Downstream Gas Infrastructure Fund (MDGIF) have signed a $500 million Memorandum of Understanding (MoU) to accelerate gas infrastructure development. The deal, sealed at the Intra-African Trade Fair (IATF2025), reflects a shared commitment to private sector-led investment and sustainable growth in Nigeria’s gas sector.
The MoU targets mobilising up to $500m over four years through a mix of senior debt and equity contributions. Afreximbank will provide financing, guarantees, and project support, while MDGIF will contribute equity and leverage statutory backing under the Petroleum Industry Act. Funds will cover feasibility studies, risk management, and capital structuring for midstream and downstream projects, including pipelines, processing, and storage.
The collaboration aims to modernise and expand Nigeria’s gas infrastructure, reduce gas flaring, and boost domestic utilisation and exports. It also strengthens Nigeria’s position in regional trade, aligning with Afreximbank’s industrialisation agenda and Tinubu’s energy strategy. According to officials, the deal will create jobs, enhance energy security, and catalyse inclusive growth, with spillover potential across West Africa. The partnership also builds institutional capacity, equipping MDGIF with tools for risk management and innovative financing.
