PIDG InfraCredit exit nets $26m, allowing reinvestment in sustainable infrastructure in Nigeria and other frontier markets

The Private Infrastructure Development Group (PIDG), through its project development arm InfraCo, has exited its preference share investment in InfraCredit Nigeria for USD 26 million, achieving a strong return despite challenging macroeconomic conditions.

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InfraCo retains ordinary shares following InfraCredit Nigeria’s 2025 listing on the NASD OTC Securities Exchange.

PIDG had partnered with the Nigeria Sovereign Investment Authority in 2017 to establish InfraCredit as the world’s first local currency guarantee facility targeting infrastructure in frontier markets.

Chief Executive Officer of PIDG, Philippe Valahu, said the transaction demonstrates how scarce capital can be effectively deployed to mobilise domestic institutional finance.

“InfraCredit’s strong performance serves as a template for how such entities can be built in the future. With this transaction, we can now redeploy our investment for further action on climate and sustainable development in low- and middle-income countries,” he said.

The $26 million proceeds will be reinvested into additional inclusive and sustainable infrastructure projects.

InfraCredit provides Naira-denominated guarantees to enhance the credit quality of local currency debt instruments issued to finance Nigerian infrastructure projects.

Since its inception, the institution has expanded its guarantee portfolio, enabling domestic investors to participate in infrastructure finance and unlocking approximately N327 billion (around $516 million) from more than 20 institutional investors across renewable energy, transport, logistics, and telecommunications sectors.

Chinua Azubike, CEO of InfraCredit, described PIDG’s preference share exit as a significant milestone.

“PIDG has been a foundational partner since inception, supporting InfraCredit through its early stages as we built the institutional strength and market credibility required to become a publicly listed company. As InfraCredit continues to evolve, we value this enduring relationship and its role in advancing our long-term mandate,” he said.

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The PIDG InfraCredit exit underscores the potential for innovative financing structures to attract domestic capital and support sustainable infrastructure growth in emerging markets.