Chinua Azibuike,MD InfraCredit
By Sanya Ademiluyi, editor
The Nigerian Sovereign Wealth Authority ,NSIA has recently listed its flagship subsidiary, Infrastructure Credit Guarantee Company, better known as InfraCredit on the NASD exchange ,early last month ,April,2025.
NSIA managing director ,Aminu Umar-Saddiq disclosed this in Abuja, April 16 during a media chat. He said that the authority has been able to reduce its equity stake InfraCredit from 100 per cent to 37 per cent by attracting some pension fund administrators and insurance companies to invest in the company. AIICO is one of these insurance companies that have invested in Infracredit.
InfraCredit has refinanced major public infrastructure construction such as the multi-billion naira Second Niger Bridge and the Lagos-Ibadan Expressway,both almost completed. Other notably guarantees by InfraCredit are Green Liquefied Natural Gas Ltd’s issuance of N11.85 billion senior guaranteed fixed rate series 11 bond, due in 2035 ,in March and Craneburg EKSG Motorway Company’s issuance of a N32.5 billion,20 year senior guaranteed fixed rated infrastructure bond, due in 2045,mid April,2025.
On the other hand, InfraCredit has been able to attract sizeable debt capital from several development banks and institutions, notably te International Finance Corp,IFC and the African Development Bank, AFDB which has deepened its pool of capital and enhanced its capacity.
In November,2024 InfraCradir secured a $30 million risk sharing and blended local currency co-financing facility from the British International Investment to support decentralized energy projects in Nigeria.
InfraCredit is rated AAA(NGA) with a stable outlook by Fitch.Among its new equity investors are Mobilist and AIICO Insurance.
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