The African Export-Import Bank (Afreximbank) and the Midstream and Downstream Gas Infrastructure Fund (MDGIF) recently signed a memorandum of understanding (MoU) to create a collaborative framework for the promotion, development, and expansion of gas infrastructure in Nigeria.
Ekperikpe Ekpo, Minister of State, Petroleum Resources (Gas), stated that the partnership will help in unlocking the potential to mobilise about $500 million over the next four years to support Nigeria’s midstream and downstream gas projects.
“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,” Ekpo stated.
The agreement, signed on the sidelines of the Intra-African Trade Fair (IATF2025) by Helen Brume on behalf of Afreximbank and Oluwole Adama on behalf of MDGIF, was facilitated by Cedrus Group Africa, reflecting the importance of strategic partnerships in mobilising capital and driving energy transformation.
“This MoU marks a significant milestone in our shared commitment to accelerating Africa’s economic transformation. By combining Afreximbank’s deep expertise in trade and project finance with MDGIF’s national investment reach, we are poised to unlock new opportunities for inclusive growth and sustainable development across Nigeria and, potentially, across the West Africa sub-region,” Kanayo Awani, executive vice president, intra-African trade and export development, Afreximbank, stated.
Accordingly, the MoU will establish a dedicated project preparatory support, while Afrexim will provide credit risk guarantees to support local gas development, and create capacity-building programmes to strengthen Nigeria’s institutional expertise.
“This partnership with Afreximbank enables MDGIF to mobilize capital, expand critical midstream and downstream infrastructure, reduce flaring, and deliver sustainable energy solutions that power industries, create jobs, and improve livelihoods across Nigeria,” Oluwole Adama, executive director, MDGIF, stated.
According to Adama, the partnership is anchored on the statutory mandate under the Petroleum Industry Act, and aligned with President Tinubu’s agenda to harness Nigeria’s gas resources for industrialisation and economic growth.
“As adviser and facilitator of this MoU, Cedrus Group Africa is committed to ensuring its objectives translate into real outcomes—mobilising private capital, structuring bankable projects, and creating the right frameworks for long-term sustainability in Nigeria’s gas sector,” Olubusayo Adeniyi, CEO, Cedrus Group Africa, stated.
