Afreximbank, in collaboration with Access Bank Limited, has entered into a Framework Agreement with Ogun State and other selected sub-nationals.
The agreement is to facilitate the financing of commercially viable infrastructure projects.
This agreement paves the way for the allocation of up to 500 Billion Naira, which will be utilized to create trade and trade-enabling infrastructure.
The primary objective of this initiative is to expedite economic diversification through infrastructure development under the Africa Sub-Sovereign Network Initiative.
Ogun State, being the manufacturing, industrial, and logistics hub of the nation, aims to leverage this opportunity to accelerate the development and completion of various infrastructure projects.
These projects will not only solidify the state’s position but also enable it to export finished and semi-finished products to countries across the African continent.
The Framework Agreement has also been endorsed by Anambra, Ekiti, and Oyo state.
Through this collective effort, we anticipate a significant increase in job opportunities, higher income levels, and a sustainable diversification of the Nigerian economy.