By Ikenna Omeje

The Federal Government, through the Central Bank of Nigeria (CBN) and the Nigeria Sovereign Investment Authority (NSIA) as well as its Partner,  Africa Finance Corporation (AFC), is requesting an expression of interest proposals from qualified asset managers for the newly-created Infrastructure Corporation of Nigeria Limited (Infra-Co).

This was contained in a statement issued on Friday by the  promoters of the Corporation — CBN, AFC and NSIA.

 “The Central Bank of Nigeria (CBN), the Africa Finance Corporation (AFC) and the Nigeria Sovereign Investment Authority (NSIA) (the Promoters) are requesting for expression of interest proposals from qualified asset managers active in the infrastructure sector to manage a newly-created world class institution -The Infrastructure Corporation of Nigeria Limited (InfraCorp) to catalyse and accelerate investment into Nigeria’s infrastructure sector,” the statement reads.
“InfraCorp is a dedicated privately-managed infrastructure and industrial vehicle that will harness opportunities for Nigeria’s infrastructure development by originating, structuring, executing and managing end-to-end bankable projects in that space.”
The successful  asset manager will be responsible for establishing a general partner/asset manager organisation, to develop the consolidated business plan and financial model for InfraCorp and its subsidiaries.

 The person will also supervise the day-to-day operations of the Asset Management business of InfraCorp; plan, lead and coordinate the promotion of InfraCorp and capital raising activities; as well as other functions provided in the detailed request for proposal.
According to the statement, all expressions of interest (EOIs) proposals must be sent to [email protected], while the deadline for receipt of final proposals is 12noon Nigerian time on March 16, 2021.

President Muhammadu Buhari had in mid February, approved the establishment of the Public Private Partnership styled Infrastructure company, to address infrastructure deficit in the country.
The company, which will take off with an initial seed capital of N1 Trillion, is expected to grow to N15 Trillion in assets and capital over time.