*The United Kingdom鈥檚 MOBILIST programme successfully trades its investment in Nigerian credit guarantee company InfraCredit to five Nigerian pension funds as part of measures to mobilise more local institutional investment for the country鈥檚 infrastructure development for growth

Gbenga Kayode | 绿帽献妻

In a move to mobilise more local institutional investment for infrastructure development critical to the country鈥檚 growth, the United Kingdom (UK) MOBILIST programme has successfully traded its investment in Nigerian credit guarantee company InfraCredit to five Nigerian pension funds.

MOBILIST鈥檚 exit represents the biggest trade in InfraCredit鈥檚 shares since its listing by introduction on Nigeria鈥檚 NASD OTC Exchange Plc (NASD) April 2025.

The transaction enabled five domestic institutional investors 鈥� pension funds and insurers 鈥� to take up shareholding in InfraCredit.

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UK鈥檚 Foreign, Commonwealth & Development Office (FCDO) in Nigeria, in a statement Monday, November 3, 2025, however, disclosed that four of the funds did not participate in the initial listing.

InfraCredit is Nigeria鈥檚 first and only domestic creditor guarantor, issuing Naira-denominated guarantees that help to mitigate risk for investors and improve the creditworthiness of Nigerian infrastructure debt instruments.

These guarantees enable Nigerian institutional investors to invest in instruments used to finance infrastructure projects.

The UK鈥檚 FCDO, through MOBILIST, has invested NGN9.5 billion ($6 million) in InfraCredit鈥檚 listing, which saw the company raise a total of 鈧�27 billion (US$17.7 million) after attracting investment from two local pension funds, the statement noted.

The listing broadened InfraCredit鈥檚 domestic institutional shareholder base and gave the company access to new sources of capital, expanding its capacity to provide guarantees for new infrastructure projects.

The secondary sale of MOBILIST鈥檚 shares extends this impact, offering liquidity to untapped buyers, who are natural long-term private sector equity holders but who did not participate at the initial point of listing.

According to FCDO, after the secondary sale, Nigerian pension funds will collectively own more than 27 percent of InfraCredit鈥檚 ordinary equity,

This is expected to reinforce domestic institutional ownership and governance of a strategically important financial institution, alongside the public sector capital (including the UK) which remains invested in the company.

Speaking on the transaction, Mr. Jonny Baxter, British Deputy High Commissioner to Nigeria (Lagos), said: 鈥淭he UK consistently prioritises transformational investments that unlock commercial markets.

鈥淚nfraCredit is one such example, an indigenous guarantee platform which is now attracting Nigerian institutional investors.鈥�

Baxter explained: 鈥淭o date, InfraCredit has facilitated over 鈧�300 billion in financing, valued at more than $500 million equivalent indexed at issuance, in support of infrastructure development across Nigeria.

鈥淲e鈥檙e excited to see this momentum continue to grow, driven increasingly by domestic capital and delivering strong returns to Nigerian investors.

鈥淎 win-win where more infrastructure is built to support Nigerian businesses, and more value returned to Nigerian stakeholders.鈥�

Azubike: Transaction a milestone for InfraCredit, Nigerian financial markets

In his remarks also, Mr. Chinua Azubike, CEO of InfraCredit, said: 鈥淭his secondary transaction is a proud milestone for InfraCredit and for Nigeria鈥檚 financial markets.

鈥淚t reinforces our long-term ownership vision that catalytic foreign investment can pave the way for sustained domestic institutional participation at scale.

鈥淲e are delighted to welcome four new Nigerian pension funds to our ownership base, a reflection of deepened market confidence and the growing role of local investors in financing Nigeria鈥檚 sustainable future.鈥�

Mr. Ross Ferguson, MOBILIST Programme Lead within FCDO, said: 鈥淢OBILIST鈥檚 investment in InfraCredit proved the potential of using public markets to mobilise private 鈥� and importantly 鈥� local investment in sectors driving sustainable development and growth.

鈥淭he programme鈥檚 exit only reinforces this potential and highlights how innovative development finance can generate impact beyond an initial investment by contributing to the creation of deeper, more liquid capital markets while recycling capital for future investments.鈥�

The statement further noted that InfraCredit benefited from technical assistance, and catalytic investments facilitated by MOBILIST, Financial Sector Deepening Africa (FSDA), British International Investments (BII), the Private Infrastructure Development Group (PIDG), and FCDO-Nigeria.

These contributions, FCDO-Nigeria stated, have played a critical role in de-risking local investments and mobilising domestic institutional capital towards green infrastructure projects.

The UK remains committed to partnering with Nigeria to develop its local capital markets, including through MOBILIST鈥檚 continued partnership with the Nigerian Exchange (NGX) to enable greater investment towards sustainable development through listed products. According to the statement, the programme remains open to applications for technical assistance and catalytic equity investment toward Initial Public Offerings (IPOs) and the development of new listed products.