Follow Us on Google
The Infrastructure Corporation of Nigeria (InfraCorp), members of the AAA Infrastructure Nigeria Limited (Triple A Infra), including Afrinvest, Africa Plus Partners and ARC Asset Management (USA), have signed the term sheet for the management of part of a N15 trillion infrastructure fund, dedicated solely to investment in Nigeria.
The signing of the term sheet signals the effective take-off of the execution phase of InfraCorp.
InfraCorp is a dedicated privately-managed infrastructure vehicle established and co-owned by the Central Bank of Nigeria (CBN), Africa Finance Corporation (AFC) and Nigeria Sovereign Investment Authority (NSIA) together referred to as “the Promoters”.
The vehicle was established to harness opportunities for infrastructure development in Nigeria by originating, structuring and executing end-to-end bankable projects. The asset creation and management process will be coordinated by reputable, carefully-selected and highly-experienced infrastructure asset managers. It is a largely private-sector driven initiative.
InfraCorp will leverage private sector partnerships and government relationships to unlock infrastructure assets for development.
The term sheet signing ceremony had the CBN Governor and Chairman of InfraCorp, Dr. Godwin Emefiele; the Managing Director of InfraCorp, Dr. Lazarus Angbazo; and CEO of Triple A Infra and Group Managing Director of Afrinvest West Africa, Mr Ike Chioke, among others, in attendance.
Speaking at the ceremony, Dr. Emefiele expressed delight over the signing of the term sheet between InfraCorp and the assets managers.
