PIDG Exits InfraCredit, Reinvests $26 Million in Nigeria's Infrastructure Projects

The Privat Infrastructure Develop Group (PIDG) has exited InfraCredit, a local currency guarantee institution in Nigeria, signaling trust in the country's credit market improvement. PIDG, a partner with Nigeria's sovereign investment authority, established InfraCredit in 2017 to enhance credit quality for local currency debt instruments in infrastructure projects.

Despite macroeconomic challenges, InfraCredit has performed well, holding ordinary shares and being listed on the NASD OTC Securities Exchange until 2025. PIDG's CEO, Philipp Valahu, emphasized the successful capital mobilization and unlocking of domestic institutional finance by InfraCredit.

The $26 million reinvestment by PIDG will further support sustainable infrastructure projects in Nigeria, enabling domestic investors to participate in infrastructure financing. Chinua Azubike, CEO of InfraCredit, highlighted PIDG's investment as a significant milestone, demonstrating the institution's market credibility and evolution towards becoming a publicly listed company.