UK Government invests $6 million in Nigeria’s InfraCredit for sustainable infrastructure Devt
By Dooyum Naadzenga
The UK government’s MOBILIST programme is making waves in Nigeria by investing NGN9.5 billion ($6 million) in InfraCredit, the country’s first domestic creditor guarantor, as part of effort to bolster infrastructure financing.
This strategic investment supports InfraCredit’s recent listing on the NASD OTC Exchange, which is valued at NGN 64 billion ($41 million), and has successfully raised NGN 27 billion ($17.7 million) in new equity.
As Nigeria faces an estimated $2.3 trillion infrastructure gap by 2043, InfraCredit is stepping up to mitigate risks for investors through Naira-denominated guarantees, attracting local institutional investment and facilitating critical infrastructure projects.
A statement by Senior Press and Public Affairs Officer , British High Commission, Onyinye Madu and made available to the Daily Times says, this moment marks the beginning of a new chapter for InfraCredit.”
CEO of InfraCredit, Chinua Azubike said, “With the confidence of our new institutional investors and the UK government, we aim to deepen Nigeria’s capital markets and accelerate infrastructure delivery.”
British Deputy High Commissioner in Lagos, Jonny Baxter, emphasized the impact of long-term partnerships, stating, “InfraCredit’s success illustrates the potential of public markets to mobilize domestic capital at scale.”
This investment aligns with the UK’s ongoing commitment to support Nigeria in achieving the United Nations Sustainable Development Goals through enhanced capital market development.
