By Our Correspondent
Nigeria is seeking to mobilise $750 million in long-term institutional capital to finance critical infrastructure projects through a proposed investment platform aimed at unlocking pension assets and attracting funding from development finance institutions.
The initiative, known as the Pension Industry Infrastructure Platform (PIIP), is being developed through a partnership between the Pension Industry Leadership Council (PILC), FSD Africa and the British High Commission in Nigeria.
According to the British High Commission in a statement on Tuesday in Abuja, the platform is expected to raise an initial $350 million at its first close in 2027 before scaling up to its ultimate target of $750 million.
“At full capacity, the fund is expected to attract approximately $600 million from Nigerian pension funds and at least $150 million from development finance institutions,” it said.
The initiative is designed to address Nigeria’s infrastructure financing deficit by linking viable projects with long-term institutional investors, particularly in critical sectors such as energy, transportation and digital connectivity.
An initial assessment of Nigeria’s infrastructure project pipeline identified 39 projects considered suitable for the platform, with an estimated investment requirement of about $20 billion.
The statement explained that PIIP would invest through equity and quasi-equity instruments, with at least 60 per cent of its portfolio dedicated to projects in Nigeria, while the remaining allocation would support selected investments across the region.
The proposed structure will comprise a naira-denominated core investment fund and a separate co-investment vehicle, allowing participating pension funds to invest alongside the main fund in selected infrastructure projects.
A parallel foreign-currency investment vehicle may also be established to accommodate international investors and expand the platform’s funding base.
The British High Commission said the arrangement would provide institutional investors with access to professionally managed, long-term investment opportunities while channelling domestic savings into infrastructure development and broader economic growth.
The signing of the Memorandum of Understanding (MoU) comes amid growing demand for infrastructure investment in Nigeria and across Africa, as governments and industry stakeholders explore innovative financing mechanisms to bridge persistent funding gaps.
Established in 2025, the Pension Industry Leadership Council brings together the National Pension Commission, pension operators and other stakeholders to strengthen the pension industry and promote the productive deployment of pension assets.
FSD Africa, a specialist development agency supported by the UK Government and other partners, works with governments, regulators and financial institutions across 30 African countries to strengthen financial markets and mobilise capital for sustainable economic development.
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