UK Invests ₦9.5 Billion to Boost Nigeria’s Infrastructure Finance Through InfraCredit Listing on NASD OTC Exchange

LAGOS, Nigeria — The United Kingdom has committed a catalytic investment of ₦9.5 billion ($6 million) through its MOBILIST programme to support the public listing of InfraCredit on the NASD OTC Exchange Plc, marking a pivotal move in Nigeria’s efforts to unlock local capital for infrastructure development and accelerate the country’s energy transition.

This investment is part of a larger transaction that sees InfraCredit, Nigeria’s sole domestic credit guarantor, achieve a total listing valued at ₦64 billion ($41 million)—including ₦27 billion ($17.7 million) in fresh equity capital.

What the UK’s MOBILIST Investment Means for InfraCredit

The UK’s injection of capital via MOBILIST (Mobilising Institutional Capital Through Listed Product Structures) is expected to:

Expand InfraCredit’s guarantee capacity
Support a wider pipeline of infrastructure projects
Enhance access to long-term, local-currency financing
Enable greater private sector participation in infrastructure funding

According to the UK government, this step aligns with broader objectives to mobilise domestic capital through public markets, empowering Nigerian investors to drive development.

“InfraCredit’s success highlights the power and impact of long-term partnerships,” said Jonny Baxter, British Deputy High Commissioner in Lagos. “This transaction illustrates the potential of public markets to mobilise domestic capital at scale.”

Nigeria’s Infrastructure Challenge: Bridging a $2.3 Trillion Gap

Nigeria’s infrastructure deficit is estimated at over $2.3 trillion between 2021 and 2043. Traditional funding sources—such as local commercial banks—lack the long-term capital needed for these large-scale investments.

InfraCredit, established in 2017 by GuarantCo (a PIDG company) and the Nigerian Sovereign Investment Authority (NSIA), addresses this challenge by:

Providing Naira-denominated credit guarantees
Enhancing the creditworthiness of infrastructure bonds
Attracting local institutional investors such as pension funds and insurance firms

To date, InfraCredit has guaranteed a project pipeline worth over ₦750 billion ($500 million), enabling increased capital flows into sectors such as power, transport, housing, and renewable energy.

A Turning Point: First Pension Fund Equity into InfraCredit

The listing on the NASD OTC marks a historic milestone as two Nigerian pension funds have made direct equity investments into InfraCredit for the first time.

This signals a deepening of Nigeria’s capital markets, as more local institutional investors begin to take ownership stakes in critical infrastructure financing vehicles. The move is expected to:

Broaden InfraCredit’s investor base
Strengthen long-term governance and transparency
Lay the groundwork for future listings on the Nigerian Exchange (NGX)

“Our transition to a listed public company reflects our ambition to build a deeper, more inclusive capital market for domestic resources,” said InfraCredit CEO, Chinua Azubike.

Supporting Green Growth and Sustainable Development Goals (SDGs)

The MOBILIST-backed investment also supports InfraCredit’s green growth strategy, aimed at increasing financing for clean energy and climate-resilient infrastructure.

InfraCredit has committed to aligning its portfolio with the UN Sustainable Development Goals (SDGs), while the UK continues to partner with the NGX to enable sustainable capital mobilisation frameworks.

This includes green bonds, climate-smart infrastructure, and financing initiatives that promote gender equity, public health, and environmental sustainability.

Regional Impact: A Model Exported Beyond Nigeria

InfraCredit’s model has already inspired similar entities in other emerging markets:

InfraZamin in Pakistan
Dhamana in Kenya

This demonstrates the scalability of the approach, especially when backed by international development institutions like British International Investment (BII) and Financial Sector Deepening Africa (FSDA).

What You Should Know

InfraCredit was founded in 2017 by GuarantCo and NSIA to boost domestic infrastructure financing.
This listing is InfraCredit’s first on a public exchange, enabling equity investments from Nigerian pension funds.
The UK’s MOBILIST programme invested ₦9.5 billion ($6 million) as a catalytic anchor to drive more local participation.
Future listing on the Nigerian Exchange (NGX) is under consideration to attract more institutional investors and scale impact.

Conclusion

The UK’s investment in InfraCredit marks a critical milestone in Nigeria’s financial and infrastructure landscape. As InfraCredit scales its operations with new equity, the move is poised to unlock billions in private capital for roads, power, clean energy, and other priority sectors—backed by local ownership and international support.

With continued government backing, market innovation, and investor interest, Nigeria’s path to bridging its infrastructure gap is looking more achievable than ever.