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Daniel Adaji
Infrastructure Credit Guarantee Company Limited (InfraCredit) has mobilised N264bn in domestic capital over the past two decades, significantly expanding Nigeria’s capacity to finance critical infrastructure projects.
According to data obtained by Pointblank News on Tuesday, the company has enabled 21 projects to reach financial close while attracting 18 pension fund investors—strengthening the flow of long-term, Naira-denominated financing into Nigeria’s infrastructure sector.
In a major boost to its operations, the United Kingdom has committed a fresh N9.5bn ($6m) through its MOBILIST programme to support InfraCredit’s listing on the NASD OTC Exchange.
The investment is part of a broader initiative to unlock domestic capital for infrastructure and Nigeria’s energy transition.
InfraCredit’s total listing stands at N64bn ($41m), with N27bn ($17.7m) raised as new equity. The UK-backed funding is expected to expand the company’s guarantee capacity and support a broader pipeline of sustainable infrastructure projects.
The UK’s Deputy High Commissioner in Lagos, Jonny Baxter, described the investment as a testament to the UK’s long-term commitment to Nigeria’s infrastructure development.
“InfraCredit’s success highlights the power of long-term partnerships,” he said.
InfraCredit CEO Chinua Azubike noted that the listing marks a new phase for the company.
“Our transition to a listed public company reflects our ambition to build a deeper, more inclusive capital market for domestic resources that accelerates infrastructure delivery in Nigeria,” he said.
With Nigeria facing an estimated $2.3tn infrastructure investment need by 2043, InfraCredit’s role in de-risking local investment and enabling pension funds to back long-term projects is becoming increasingly vital.
The firm maintains a zero-loss underwriting standard and continues to innovate around climate-aligned and green finance instruments.
Founded in 2017 by GuarantCo and the Nigerian Sovereign Investment Authority (NSIA), InfraCredit’s model has since been replicated in Pakistan and Kenya. Strategic partnerships include British International Investment (BII), Financial Sector Deepening Africa (FSDA), and the Pension Fund Operators Association of Nigeria (PENOP).