Lagos Secures Partnership With Afrexim, Access Banks For $1.352 Billion Investment

The Lagos State government has secured a partnership with the African Export-Import Bank and Access Bank for an investment of $1.352 billion in the state.

The agreement was signed at the Africaribbean Trade and Investment Forum 2023, held in Georgetown, Guyana.

While the state Governor, Babajide Sanwo-Olu signed on behalf of Lagos, President of Afrexim Bank, Professor Benedict Oramah and the CEO of Access Bank, Dr. Herbert Wigwe signed for their respective organizations.

The money would facilitate Lagos’ various strategic long-term infrastructure and investment projects.

This was disclosed by Sanwo-Olu on Tuesday.

Targeted infrastructure projects to be financed with the fund include the Fourth Mainland Bridge, Omu Creek Project, and the 2nd Phase of the LRMT Blue Line from Mile 2 to Okokomaiko.

“It was a significant moment in Guyana at the Africaribbean Trade and Investment Forum 2023 as we’ve secured a partnership with the African Export-Import Bank and Access Bank for a massive investment of $1.352 billion in Lagos.

“This investment will power our long-term infrastructure projects, demonstrating confidence from international and local partners in our growing economy.

“As we move forward, this investment will help us realize key projects, including the Fourth Mainland Bridge, Omu Creek Project, and the 2nd Phase of the LRMT Blue Line from Mile 2 to Okokomaiko. We’re committed to creating a better future for Lagos and its people.

“Our vision for Lagos is becoming a reality with the Lekki-Epe International Airport and the Lagos Food Systems and Logistics Hub in Epe. These projects will further boost our economy and serve generations to come.

“The future of Lagos is brighter than ever,” the governor said via his social media handles.