Economy
Mobilist Exits Investment in InfraCredit
By Adedapo Adesanya
The United Kingdom’s MOBILIST programme has successfully exited its investment in Nigeria’s Infrastructure Credit Guarantee Company (InfraCredit) to five Nigerian pensions funds, boosting local investment in infrastructure and strengthening Nigeria’s financial markets.
MOBILIST is a flagship UK programme, managed by the UK Foreign, Commonwealth and Development Office (FCDO) that supports investment solutions that help deliver the climate transition and the United Nation’s Global Goals in developing economies.
According to a statement, MOBILIST’s exit represents the biggest trade in InfraCredit’s shares since its listing by introduction on the NASD Over-the-counter (OTC) Exchange Plc in April this year.
The transaction enabled the five domestic institutional investors, which is made up of pension funds and insurers, to take up shareholding in InfraCredit.
Business Post reports that four of these funds did not participate in the initial listing.
InfraCredit is Nigeria’s first and only domestic creditor guarantor, issuing Naira-denominated guarantees that help to mitigate risk for investors and improve the creditworthiness of Nigerian infrastructure debt instruments. These guarantees enable Nigerian institutional investors to invest in instruments used to finance infrastructure projects.
The UK’s Foreign, Commonwealth, & Development Office (FCDO), through MOBILIST, had invested N9.5 billion ($6 million) in Infracredit’s listing, which saw the company raise a total of N27 billion ($17.7 million) after attracting investment from two local pension funds.
The listing broadened InfraCredit’s domestic institutional shareholder base and gave the company access to new sources of capital, expanding its capacity to provide guarantees for new infrastructure projects.
InfraCredit also benefited from technical assistance, and catalytic investments facilitated by MOBILIST, Financial Sector Deepening Africa (FSDA), British International Investments (BII), the Private Infrastructure Development Group (PIDG), and FCDO-Nigeria. These contributions have played a critical role in de-risking local investments and mobilising domestic institutional capital towards green infrastructure projects.
The secondary sale of MOBILIST’s shares extends this impact, offering liquidity to untapped buyers who are natural long-term private sector equity holders but who did not participate at the initial point of listing.
Following the secondary sale, Nigerian pension funds will collectively own more than 27 per cent of InfraCredit’s ordinary equity, reinforcing domestic institutional ownership and governance of a strategically important financial institution, alongside the public sector capital (including the UK) which remains invested in the company.
Speaking on the deal, the British Deputy High Commissioner (Lagos), Mr Jonny Baxter, said, “The UK consistently prioritises transformational investments that unlock commercial markets. InfraCredit is one such example, an indigenous guarantee platform which is now attracting Nigerian institutional investors. To date, InfraCredit has facilitated over N300 billion in financing, valued at more than $500 million equivalent indexed at issuance, in support of infrastructure development across Nigeria.
“We’re excited to see this momentum continue to grow, driven increasingly by domestic capital and delivering strong returns to Nigerian investors. A win-win where more infrastructure is built to support Nigerian businesses, and more value returned to Nigerian stakeholders.”
On his part, the CEO of InfraCredit, Mr Chinua Azubike, said, “This secondary transaction is a proud milestone for InfraCredit and for Nigeria’s financial markets. It reinforces our long-term ownership vision that catalytic foreign investment can pave the way for sustained domestic institutional participation at scale.
“We are delighted to welcome four new Nigerian pension funds to our ownership base, a reflection of deepened market confidence and the growing role of local investors in financing Nigeria’s sustainable future.”
Adding his input, MOBILIST Programme Lead within FCDO, Mr Ross Ferguson said, “MOBILIST’s investment in InfraCredit proved the potential of using public markets to mobilise private – and importantly – local investment in sectors driving sustainable development and growth. The programme’s exit only reinforces this potential and highlights how innovative development finance can generate impact beyond an initial investment by contributing to the creation of deeper, more liquid capital markets while recycling capital for future investments.”
By Aduragbemi Omiyale
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) for the Nigerian private sector in July 2026 contracted to 52.5 points from 53.4 points in June 2026, a statement made available to Business Post has shown.
This occurred despite the business environment sustaining its growth last month, with an increase in new orders experienced, as inflationary pressures softened, and output and employment modestly rising.
The Head of Equity Research West Africa at Stanbic IBTC Bank, Mr Muyiwa Oni, said the PMI indicated that the private sector recorded its slowest since March 2026, as businesses also increased their input purchasing activity to keep up with current demand requirements and prepare for future workloads.
“Nigerian businesses reported improved customer demand in July while better pricing and new product launches also helped them to capture new orders arising from the increase in demand. These factors helped to keep the private sector activity in an expansionary territory, although this moderated when compared to June,” he was quoted as saying.
It was stated that while input costs increased at their slowest pace in five months, panellists reported higher costs for fuel and raw materials. Selling prices also softened in line with the picture for input costs in July.
Headline inflation eased slightly to 15.91 per cent y/y in June from 15.93 per cent y/y in May, snapping three consecutive months of price increases.
Although July inflation is likely to be higher m/m, it is expected to print lower, likely at 15.72 per cent y/y, primarily driven by favourable base effects from the corresponding period of last year, because there are no expectations of the magnitude of m/m inflation witnessed in July 2025 (1.99 per cent) to materialise this year.
“We retain our 2026 growth forecasts at 4.1 per cent as we see the oil sector growing by 3.45 per cent y/y in 2026, from 8.50 per cent y/y in 2025, while the non-oil sector is likely to grow by 4.11 per cent y/y, from 3.71 per cent y/y in 2025.
“The risks to our outlook include country-wide insecurity which may constrain food production, exchange rate pressures resurfacing, extreme-weather related conditions and higher fertiliser prices impacting crop yield, and a volatile global environment which may affect sentiment and constrain capital flows,” Mr Oni noted.
By Adedapo Adesanya
Sahara Upstream, a Nigeria-focused crude producer, has deployed a new 380,000-barrel tanker to boost exports from the OML 18 block as part of a wider push by domestic operators to invest in infrastructure and lift output and exports for Africa’s biggest oil producer.
The MT D Adesanya, which can hold more than 62,000 cubic metres of crude, will operate alongside the MT D Bayero, receiving crude from shuttle vessels at Bonny Anchorage, one of Nigeria’s main crude export hubs, before transferring it to the FSO Cawthorne storage facility.
Sahara said the tanker would help cut turnaround times, currently about 30 to 48 hours, and support a planned 50 per cent increase in exports from the block’s current level of about 950,000 barrels per month.
The block currently produces about 36,000 barrels per day, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), with Sahara targeting output of 60,000 barrels per day.
OML 18 is one of the Niger Delta’s oldest producing assets. It began production in 1970 and contains an estimated 1.5 billion barrels of oil equivalent in reserves.
Shell, Total and Eni sold their combined interests to Eroton in 2015 as part of a broader shift toward domestic ownership in Nigeria’s upstream sector.
This development comes as Sahara Upstream is deepening its exploration and production footprint through Asharami Energy Limited (AEL), its upstream E&P business, which says it is targeting 350,000 barrels of oil per day by 2030 through its subsidiary, Enageed Resources Limited (ERL).
The growth target comes as AEL also marks a major safety milestone, achieving 6 million Lost Time Injury (LTI)-free man-hours in its OML-148 operations — reinforcing the company’s commitment to operational excellence and safety leadership.
According to Asharami Energy, the milestone reflects its ability to execute complex operations safely, in line with Sahara’s Beyond XXX vision, which builds on the group’s 30-year legacy of responsible enterprise while marking its next chapter of impact, innovation, and sustainable growth.
The developments position Sahara Upstream and its subsidiaries among the domestic operators driving increased investment in Nigeria’s oil and gas infrastructure, as the group works to scale up production and exports for Africa’s biggest oil producer.
By Aduragbemi Omiyale
One of the leading energy firms in Nigeria, Aradel Holdings Plc, has expressed its desire to optimise its enlarged portfolio and improve operational efficiency in the second half of 2026.
The company is planning to build on the success it recorded in the first half of the year, where it grew its revenue by 577 per cent to N2.5 trillion from N368.1 billion in H1 2025.
The significant rise in earnings was driven by higher production volumes together with stronger realised crude oil and gas prices, with the average at $90.4/bbl and $2.08/mmscf, respectively.
In the period under review, the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 688 per cent to N1.4 trillion from N176.4 billion in the corresponding period of last year, while the operating profit surged by 789 per cent to N1.1 trillion from N118.6 billion due to higher revenue and crude handling income at N149.8 billion, partly offset by underlift cost and general and administrative costs.
The net cash generated from operations was N975.6 billion between January and June 2026 versus N140.8 billion in the same period of 2025, reflecting the cash generation of the enlarged organisation.
The net debt contracted by 70 per cent on a year-to-date basis to N46.5 billion from N475.1 billion as of December 31, 2025.
Aradel, in the period under consideration, improved its post-tax profit by 30 per cent to N191.0 billion from N146.4 billion, a development that impressed its chief executive, Mr Adegbite Falade, who said, “A firmer price environment supported performance, generating net cash from operating activities of N975.6 billion and a closing cash balance of N1.7 trillion.”
“Our enlarged portfolio provides more opportunities to generate stronger cash flow and returns for shareholders and unlocking that potential is our main focus.
“We reaffirm our full year production guidance of 110 – 140 kboepd and remain committed to operating responsibly in a changing energy landscape and to delivering lasting value for our stakeholders,” he stated.
Pingback: InfraCredit Targets N1trn to Unlock Infrastructure Funding | Business Post Nigeria
Pingback: NASD, FrieslandCampina Raise Unlisted Security Index by 0.14% | Business Post Nigeria