By Charles Ebi
InfraCredit, Nigeria’s domestic credit guarantee institution, has raised ₦27bn ,$17.7m, in new equity as part of a broader ₦64bn ,$41m, listing on the NASD OTC Exchange Plc.
The capital raise, supported by a $6m investment from the United Kingdom through its MOBILIST programme, marks a major step toward deepening Nigeria’s local capital markets and accelerating infrastructure financing.
The announcement was made following the formal listing of InfraCredit on the NASD OTC Exchange, marking its debut on the public market and signaling its intention to explore a future listing on the Nigerian Exchange ,NGX.
The move reflects InfraCredit’s broader ambition to tap into domestic capital pools and foster a more inclusive and liquid financial ecosystem for infrastructure development.
The UK government’s investment was channeled through MOBILIST ,Mobilising Institutional Capital Through Listed Product Structures, an initiative designed to mobilize private capital for sustainable development.
The investment will enhance InfraCredit’s guarantee capacity, allowing it to support a wider range of infrastructure projects across Nigeria and strengthen its ability to provide local currency guarantees to institutional investors.
Speaking on the development, the British Deputy High Commissioner in Lagos, Jonny Baxter described the transaction as a testament to the long-standing collaboration between the United Kingdom and Nigeria in promoting sustainable development and market-based solutions.
He noted that the UK, through the Foreign, Commonwealth and Development Office ,FCDO, was instrumental in the founding of InfraCredit via the Private Infrastructure Development Group ,PIDG, and remains a committed partner to its growth.
“InfraCredit’s success highlights the power and impact of long-term partnerships. This transaction illustrates the potential of public markets to mobilize domestic capital at scale”, Baxter said.
InfraCredit’s Chief Executive Officer, Chinua Azubike, welcomed the development, stating that the listing represents a pivotal chapter in the company’s journey toward scaling up infrastructure finance in Nigeria.
“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”, Azubike said.
Established to enhance the creditworthiness of infrastructure-related debt instruments, InfraCredit provides Naira-denominated guarantees that reduce risk and attract long-term institutional capital from sources such as pension funds and insurance firms.
The company’s guarantees have so far enabled the development of a project pipeline exceeding ₦750bn ,$500m, underscoring its growing role in Nigeria’s infrastructure landscape.
The latest investment and equity raise come at a time when Nigeria faces an estimated infrastructure investment requirement of over $2.3trn between 2021 and 2043, according to government projections.
By expanding its reach in the capital markets, InfraCredit aims to bridge a significant portion of this funding gap through strategic partnerships and private sector engagement.
