Juliet Jacob 
ABUJA, Nigeria – Nigeria has signed a landmark $500 million gas infrastructure agreement with Afreximbank, signalling fresh momentum in the country’s energy sector.
The Memorandum of Understanding (MoU), signed with the Midstream and Downstream Gas Infrastructure Fund (MDGIF), will drive transformative investments over the next four years.
According to a government statement on Friday, the funds will target pipelines, LNG facilities, gas processing plants, and downstream projects, positioning Nigeria as a central player in global gas markets.
“This strategic partnership with Afreximbank opens new avenues for Nigeria’s gas industry, driving economic growth through enhanced infrastructure and private sector participation,” the statement said.
The collaboration leverages Afreximbank’s international financial network to attract private capital and reduce investment risks. MDGIF, funded by a 0.5 per cent levy on petroleum product sales in Nigeria, is leading this initiative.
In October 2024, the fund facilitated N122 billion in investments across six companies: Asiko Energy, FEMADEC Energy, Ibile Oil and Gas, Nsik Oil and Gas, Rolling Energy, and Topline Limited. Officials say the new Afreximbank deal will expand such opportunities.
“With MDGIF’s support and Afreximbank’s financing, Nigeria is poised to unlock deeper investment pools, catalysing innovation and growth,” the statement added.
About the Author
Korede Abdullah 
Mirian Gom 
Hussaini Ibrahim 
