Afreximbank provided a $64 million acquisition finance facility to Levene Energy Development Limited in January 2026 to acquire a strategic stake in Axxela Limited — Nigeria’s leading private gas distribution and power infrastructure company. Axxela operates gas distribution networks, compressed natural gas (CNG) stations and gas-fired power plants across Nigeria.
Capital Details
Market Significance
Signals growing M&A activity in Nigeria's midstream gas sector as indigenous operators consolidate infrastructure ahead of the gas-to-power buildout. Axxela's network is critical for the AKK pipeline's downstream commercial case.
Risk / Considerations
Axxela's gas distribution operations depend on gas availability from upstream producers — supply reliability is the central commercial risk.
What Happens Next
Integration of Levene's stake and expansion of Axxela's gas distribution and power portfolio.
Commercial Opportunity
Axxela's CNG and gas power infrastructure is directly linked to the Nigeria gas-to-power opportunity — a commercial signal for downstream gas investors.