BOLDEN African News · Monday 2 November 2026
Afreximbank lends $81.9 million towards Veenocks' $145 million tile plant expansion in Ogun State
The African Export-Import Bank has provided an $81.9 million loan towards a $145 million expansion of the Veenocks porcelain tile plant in Sagamu, Ogun State. The project is meant to scale up Nigerian tile manufacturing and supply markets across the region.
Why it matters
Locally made tiles at this scale cut import dependence for Nigeria's construction industry and open export routes across West Africa.
Sources: Afreximbank, Businessday NG · 2 November 2026