Nigeria Credit Guarantor Targets $703 Million for Infrastructure

Nigeria’s InfraCredit plans to more than triple its naira guarantees over the next four years, betting that looser leverage rules and easing borrowing costs will help unlock long-term funding for infrastructure projects in the West African nation.

The Lagos-based credit-guarantee company expects to execute about 1 trillion naira ($703 million) of transactions from its existing pipeline, Chief Executive Officer Chinua Azubike said in an interview. The pipeline comprises contracted clients that have completed initial screening, signed mandate letters and entered due diligence, with loan approvals and financial close expected over the next four years, he said.