The African Export-Import Bank (Afreximbank) and the Midstream and Downstream Gas Infrastructure Fund (MDGIF) have signed a landmark memorandum of understanding (MoU) aimed at accelerating the development of gas infrastructure in Nigeria.

According to a statement, the agreement was signed during the recently concluded fourth Intra-African Trade Fair (IATF2025) by Mrs. Helen Brume, Director and Global Head of Project and Asset-Based Finance at Afreximbank, and Mr. Oluwole Adama, Executive Director at MDGIF. The MoU establishes a collaborative framework that reflects both institutions’ commitment to private sector-led solutions and aligns with their strategic objectives.

Under the agreement, Afreximbank and MDGIF will work together to mobilise up to $500 million over a four-year period to support midstream and downstream gas infrastructure projects across Nigeria. This financing will include a combination of senior debt and equity investments, structured within each party’s independent mandate. The goal is to modernise and expand Nigeria’s gas sector, with a particular focus on bankable projects that can drive sustainable growth and industrialisation.

As part of the collaboration, both institutions will jointly identify and prioritise eligible gas infrastructure projects, with yearly targets to ensure steady progress. Afreximbank will consider providing direct financing and credit risk guarantees in partnership with local financial institutions, while MDGIF will explore equity contributions to complete the capital structure for selected projects. Additionally, the partnership will support preparatory activities such as feasibility studies, legal and environmental assessments, and project structuring to enhance bankability. MDGIF will also leverage Afreximbank’s promotional platforms, including the Intra-African Trade Fair, to raise awareness of its initiatives and engage with stakeholders. Furthermore, a structured capacity-building programme will be developed to strengthen MDGIF’s institutional expertise in areas such as risk management and innovative financing.

Commenting on the partnership, Mrs. Kanayo Awani, Executive Vice President for Intra-African Trade and Export Development at Afreximbank, described the MoU as a significant step forward in the bank’s mission to drive Africa’s economic transformation. She noted that by combining Afreximbank’s deep project finance experience with MDGIF’s national investment mandate, the partnership is well-positioned to unlock inclusive growth and sustainable development in Nigeria and potentially across West Africa. She added that the initiative also aligns with Afreximbank’s broader industrialisation and export development agenda.

“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,” Awani said.

Mr. Adama, Executive Director of MDGIF, remarked that the partnership reflects MDGIF’s statutory mandate under the Petroleum Industry Act and is aligned with President Bola Ahmed Tinubu’s agenda to harness Nigeria’s gas resources for industrial and economic development. He emphasized that this collaboration with Afreximbank will help mobilise capital, expand critical infrastructure, reduce gas flaring, and deliver sustainable energy solutions that can power industries, generate employment, and improve livelihoods across the country.

Representing the Nigerian government, the Minister of State for Petroleum Resources (Gas) expressed support for the partnership, noting its potential to attract up to $500 million in gas infrastructure investment over the next four years. He also highlighted the importance of developing a pipeline of well-prepared, bankable projects supported by feasibility studies, project preparation, and risk-sharing mechanisms to accelerate investment in pipelines and processing infrastructure.

“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,” Adama stated.

The fourth Intra-African Trade Fair (IATF2025), where the MoU was signed, concluded with resounding success. The event attracted over 112,000 participants both physically and virtually, facilitated more than $48 billion in trade deals, and featured over 2,100 exhibitors. It was attended by 20 Heads of State and Government representatives, along with numerous ministers, senior officials, and prominent business leaders from across the continent.

2.

Dangote Refinery Rolls Out Over 1,000 CNG Trucks to Revolutionize Fuel Distribution

The Dangote Refinery has officially launched the deployment of its compressed natural gas (CNG)-powered trucks for direct fuel distribution across Nigeria.

On Monday, the company announced that more than 1,000 new CNG trucks have been dispatched to its gantry for fuel loading, marking a major step in its green energy transition.

According to Anthony Chiejina, Group Spokesman for Dangote Industries, this rollout is part of a broader plan to modernize the company’s distribution fleet and improve fuel delivery efficiency.

“In one year, we have transitioned to CNG. Some of the old trucks are not even qualified in terms of safety. When you see the CNG trucks, the difference is clear. We have more than a thousand of them here; about 500 are at the port. The rest are coming. By the end of the month, we will have all the CNG trucks here. That’s a big transformation; within one year we were able to transit from old to new,” Chiejina told reporters.

The refinery, which began petrol production last year, has now fully embraced CNG-powered vehicles as part of its direct-to-station fuel supply strategy.

Originally, the CNG truck distribution was scheduled to launch on August 15 but experienced delays due to logistical issues in China. Dangote Group had placed an order for 4,000 trucks from Chinese manufacturers, but shipping challenges caused by vessel shortages held up delivery to Lagos.

Despite the delay, the company remains on track to complete the full deployment of CNG vehicles, which it views as a transformative upgrade in both safety and sustainability.

3.

TCN Schedules Maintenance on 60MVA Transformer at Bauchi Substation

The Transmission Company of Nigeria (TCN) has announced a scheduled maintenance exercise on one of its 60MVA power transformers at the 132/33kV Bauchi Transmission Substation.

The maintenance is set to take place between 10:00 a.m. and 12:00 noon on Monday, September 15, 2025.

In a statement issued by Ndidi Mbah, General Manager, Public Affairs, TCN assured that the maintenance operation will not result in any power interruption to consumers within the Jos Electricity Distribution Company (JEDC) network.

According to the company, all electricity loads handled by the transformer undergoing maintenance will be temporarily transferred to a third 60MVA transformer within the substation, which has the capacity to support the full load during the scheduled work.

“Consequently, no area under the JEDC’s franchise taking supply from the said transformer will be affected during the maintenance period,  as normal bulk power will be made available to JEDC,” the statement read.

The maintenance effort is part of TCN’s broader commitment to consistent infrastructure upgrades and proactive equipment servicing, aimed at ensuring reliable electricity transmission across the country.

“It is important to note that apart from the consistent rehabilitation and expansion of projects by the company, TCN is committed to prompt equipment maintenance for optimal service delivery,” the statement added.