Press Release

NEC Approves $650M Seed Funding as FG Establishes Presidential Infrastructure Development Fund

May 17, 2018 –

President Muhammadu Buhari has approved the establishment of a Presidential Infrastructure Development Fund (PIDF), which is to be managed by the Nigeria Sovereign Investment Authority (NSIA), and invested specifically in critical road and power projects across the country.

The National Economic Council (NEC) has also, today, May 17, 2018, authorised the initial transfer of $650 million dollars to the NSIA from the Nigeria Liquefied Natural Gas (NLNG) Dividend Account, as seed funding for PIDF.

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NSIA Invests in Smallholder Framers through Babban Gona Franchise Model

March 23, 2018 –

The Board of Directors of the NSIA, led by the Chairman, Mr. Jide Zeitlin and the Managing Director, Mr. Uche Orji today signed an agreement for the investment of US$5.0 million in Babban Gona (“BG” or the “Company”), a high impact, scalable agricultural franchise that focuses on smallholder farmers. The signing was executed with the representatives of Babban Gona, led by HRH Mallam Sanusi Lamido Sanusi, the Emir of Kano and Chairman, BG and, Mr. Kola Masha, Managing Director of Babban Gona.

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Global Credit Ratings Co. (GCR) - GCR accords a ‘AAA(NG)(sf)’ indicative rating to Viathan Funding Plc’s Series 1 Guaranteed Bonds

November 3, 2017 –

Lagos, 25 October 2017—Global Credit Ratings has accorded an indicative public long term rating of ‘AAA(NG)(sf)’ to the Series 1 Senior Guaranteed Fixed Rate Bonds (“Bonds” or “Series 1 Bonds”) to be issued by Viathan Funding Plc (“VFP” or “the Issuer”), under the Issuer’s N50bn Medium Term Note Programme (“MTNP” or the “Programme”); with the Outlook accorded as Stable. The Series 1 Bonds amount is anticipated to be N10bn, with final maturity of November 2027. 

 

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NSIA Announces Change in Capital Allocation Strategy From 20:40:40 To 20:30:50

October 16, 2017 –

Abuja – October 16th, 2017: The Board of Directors of the NSIA is pleased to announce
the approved changes in the Authority’s capital allocation strategy which, forthwith, will
result in increased capital contributions to the Nigeria Infrastructure Fund (NIF). Going
forward, all contributions to the Fund will be allocated in the ratio 50:30:20 with 50% in the
NIF, 30% in the FGF and 20% in SF. This decision was arrived at during the recently ended
2017 fourth quarter Board meeting which held at NSIA’s Office, Abuja.
 

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Sahel Capital Closes Fund for Agricultural Finance in Nigeria (FAFIN) at $65.9 Milllion

June 19, 2017 –

Sahel Capital, fund manager for the Fund for Agricultural Finance in Nigeria (“FAFIN”), is pleased to
announce the successful $65.9 million final close of its debut fund. As part of this close, the African
Development Bank, CDC Group, and the Dutch Good Growth Fund have jointly committed $31 million
to FAFIN, joining existing co‐sponsors of the fund to drive agricultural transformation in Nigeria.
 

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