Nigeria Establishes Local Infrastructure Investment Fund

Friday, December 26, 2014

The Infrastructure Bank (TIB) of Nigeria will create a $500-million infrastructure fund for the West African country with the help of the UK’s Gemfonds and Sigrun of Spain.

The Nigeria Infrastructure Fund 1 (NIF1) will establish, invest, and lend to clean energy PPP (private-public partnership) projects with a focus on infrastructure. The Infrastructure Bank Asset Management Co. Ltd. will manage the fund via a board of directors. Priority areas will be transportation, municipal common services and utilities, power and renewable energy, oil and gas, real estate, and telecommunications.

The fund will be ready, reportedly, around H2 2015.

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