The Lagos State Government and the African Export-Import Bank (Afreximbank), in collaboration with Access Holding Plc, signed a contract worth $1.35 billion on Monday to boost infrastructure and food security in the State.
The ceremony took place on the sidelines of the ongoing 2023 AfriCaribbean trade and investment forum in Georgetown, Guyana.
During the meeting, a representative of Afreximbank said: “We will be providing the equivalent of $1.352 billion in local currency in support of Lagos State government of Nigeria to support key trade enabling infrastructure to help promote industrialization and export manufacturing”.
The fund aimed to assist in the creation of roads that will cause swift transit between areas of productive centres with areas of consumption and areas of processing and will also boost trading that will empower the people of Lagos State and Nigerians as a whole.
The deal we will be signing today is very strategic for Afreximbank because this financing is taking financing closer to the people by supporting the sub-sovereigns. It has been in the works with the Lagos State government and our strategic partner, Access Bank, the report stated.
Speaking with journalists during the signing ceremony in Guyana, the Governor of Lagos State, Babajide Sanwo-Olu said that these projects will have a great impact on Lagosians.
Read more: https://www.investingport.com/lagos...holding-plc-signs-contract-worth-135-billion/