The Lagos State government has secured a $1.352 billion infrastructure investment deal with the African Export-Import Bank (Afreximbank) and Access Bank. Governor Babajide Sanwo-Olu signed the landmark partnership agreement on Tuesday at the Africaribbean Trade and Investment Forum 2023 in Georgetown, Guyana.

The massive financing package will support major long-term infrastructure projects across Lagos State. Governor Sanwo-Olu hailed the agreement as a demonstration of confidence in Lagos’ growing economy from both international and local partners.

Key initiatives to receive funding under the deal include the Fourth Mainland Bridge, Omu Creek Project, and the second phase of the Lagos Rail Mass Transit Blue Line extension from Mile 2 to Okokomaiko.

According to Sanwo-Olu, the investment will help bring the state government’s vision for Lagos to reality. He highlighted upcoming projects like the Lekki-Epe International Airport and Lagos Food Systems and Logistics Hub in Epe that will further boost Lagos’ economy for generations.

The $1.35 billion infrastructure financing pact underscores Lagos State’s ability to secure crucial investments needed to upgrade its roads, bridges, transportation hubs and other critical infrastructure. Governor Sanwo-Olu continues to implement his administration’s development agenda for Greater Lagos.