LAGOS, NIGERIA 

‎Nigeria’s Pension Industry Leadership Council and UK-funded FSD Africa have signed an agreement to develop a proposed $750 million infrastructure fund.

‎

‎The fund will bring together capital from Nigerian pension funds and development finance to invest in energy, transport and digital infrastructure in Nigeria and selected regional markets.

‎

‎FSD Africa will provide expert advice and technical support to help set up the fund, including selecting a fund manager, engaging investors, building capacity and supporting regulatory reforms.

‎

‎The initiative, developed by Nigerian Pension Fund Administrators with support from the National Pension Commission (PenCom) and FSD Africa, has already attracted interest from 19 Nigerian pension funds.

‎

‎The platform targets an initial $350 million at first close in 2027, before scaling to $750 million. At full size, it aims to mobilise about $600 million from pension funds and at least $150 million from development finance institutions.

‎

‎An initial assessment identified 39 infrastructure projects worth about $20 billion, with at least 60 percent of the fund’s portfolio to be invested in Nigeria.