General
InfraCredit Targets N1trn to Unlock Infrastructure Funding
By Adedapo Adesanya
Infrastructure Credit Guarantee Company (InfraCredit) is targeting about N1 trillion over the next four years to unlock long-term funding for infrastructure projects in Nigeria.
According to the Lagos-based credit-guarantee company’s chief executive, Mr Chinua Azubike, it expects to execute the target transactions from its existing pipeline.
He said the pipeline comprises contracted clients that have completed initial screening, signed mandate letters and entered due diligence, with loan approvals and financial close expected over the next four years, he said.
“We have seen moderation in interest rates and stability in the foreign-exchange environment, and so we see opportunities to actually do more in the capital market in Nigeria,” Azubike said, as per Bloomberg.
Infracredit will be betting on looser leverage rules and easing borrowing costs that has been carried out by the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN).
SEC last year proposed rules permitting such firms to maintain leverage of as much as 10 times capital while the Monetary Policy Committee (MPC) of the central bank cut rates by 50 basis points to 27 per cent in September, easing for the first time in five years.
Although the CBN held the interest rate at 27 per cent in November 2025, there are expectations that there will be further reductions as inflation continues to ease.
Bloomberg reported that InfraCredit has used its roughly N328 billion capital base to provide credit guarantees for 27 projects spanning roads, housing and renewable energy.
Last week, it provided credit enhancement for a local currency debt issuance by First Electric Power and Automation Services Limited, backing a clean energy project under a co-financing arrangement with the Climate Finance Blending Facility. The transaction marks the facility’s first mesh-grid clean energy project and its sixth deal overall.
The firm is now seeking to capitalize on President Bola Tinubu’s push to expand public works, as Nigeria faces an infrastructure funding gap estimated at more than $3 trillion over the next three decades.
“The guarantees we issue are designed to derisk projects” and enable “infrastructure companies to issue long-term debt that pension funds and insurance companies can lend to,” Mr Azubike said.
The InfraCredit CEO said the company plans to accelerate credit mobilization by tapping its over-the-counter listing and taking advantage of the new regulations that allow credit-guarantee firms to assume more risk to back additional lending.
“Our leverage now is roughly close to one time, so there is still room to stretch the company’s balance sheet by issuing more guarantees against its capital,” Mr Azubike said.
Launched in 2017 and backed at inception by the Nigeria Sovereign Investment Authority (NSIA) and the UK’s Private Infrastructure Development Group, InfraCredit now counts domestic institutional investors, mainly pension funds, among its largest shareholders, which hold about 40 per cent of the company.
General
Nigerian Bottling Company Bridges Education, Employability Gap
By Modupe Gbadeyanka
The Nigerian Bottling Company (NBC) has reaffirmed its determination to bridge the gap between education and employability in the country by sustaining its flagship Youth Empowered (YE) programme.
This initiative provides hands-on learning, real-world insights, and access to career-shaping opportunities to young Nigerians.
The 2026 edition of the scheme commenced on February 2 at the University of Lagos (UNILAG), with participants mainly young people between the ages of 16 and 35.
A statement from the organisation said this year’s rollout will expand to more tertiary institutions, including the Federal University of Technology, Akure (FUTA). This follows a successful 2025 tour that reached seven cities across the country, including Makurdi, Jos, Benin, Kaduna, Asaba, Akure, and Port Harcourt.
Participants in the 2026 programme will receive training across key modules designed to support personal, professional, and business growth, including Business Life Skills, Adaptability and Resilience, Financial Literacy, Customer Service and Communication, Sales and Negotiation Skills, and Workplace Ethics.
The sessions will also feature breakout workshops on Business Planning, Project Management, and Time Management, alongside the Director’s Grant Pitch Competition, where participants can pitch their ideas for a chance to win business funding.
In addition to skills development, NBC’s People and Culture team will be present throughout the programme to identify outstanding talent for future opportunities within the organisation, further strengthening the connection between learning, employment, and long-term career growth.
One of the participants at the UNILAG training, Waliat Adedogun, who received a cash grant through the Director’s Grant Pitch Competition to support her small business, said: “Youth Empowered gave me more than training; it gave me clarity and confidence. Winning the grant means I can finally take my business idea from a dream into something real. I now feel prepared to build, grow, and create opportunities not just for myself, but for others too.”
Since its launch in 2017, the scheme has impacted more than 70,000 young Nigerians, equipping participants with practical skills, confidence, and exposure needed to succeed in today’s dynamic workplace and entrepreneurial landscape.
This year’s programme is being delivered in collaboration with Fate Foundation as the implementing partner, with funding support from The Coca-Cola HBC Foundation.
Last year, 10 beneficiaries were selected for six-month paid internships across NBC locations in Lagos, Ibadan, Asejire, and Challawa, gaining direct industry exposure.
Additionally, three outstanding participants received sponsorship for an all-expenses-paid intensive culinary training programme and were awarded N1 million each to support the launch of their businesses.
General
INEC Fixes February 20 for 2027 Presidential, NASS Elections
By Modupe Gbadeyanka
The 2027 presidential and National Assembly elections will take place on Saturday, February 20, the Independent National Electoral Commission (INEC) has revealed.
In a notice for the 2027 general polls issued on Friday, the electoral umpire also disclosed that the governorship and state assembly elections for next year would be on Saturday, March 6.
Speaking at a news briefing in Abuja today, the chairman of INEC, Mr Joash Amupitan, expressed the readiness of the commission to conduct the polls next year, which is 12 months away.
The timetable issued by the organisation for the polls comes when the federal parliament has yet to transmit the amended electoral bill to President Bola Tinubu for assent.
This week, the Senate passed the electoral bill, reducing the notice of elections from 360 days to 180 days, while the transmission of results was mandated with a proviso.
Recall that on February 4, INEC said it was ready to go ahead with preparations for the elections despite the delay in the passage of the amended electoral law of 2022.
General
NGIC Pipeline Network to Experience 4-Day Gas Supply Shortage
By Modupe Gbadeyanka
The pipeline network of the NNPC Gas Infrastructure Company Limited (NGIC) will witness a temporary reduction in gas supply for four days.
This information was revealed by the Chief Corporate Communications Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mr Andy Odeh, in a statement on Thursday night.
A key supplier of gas into the NGIC pipeline network is Seplat Energy Plc, a joint venture partner of the state-owned oil agency.
It was disclosed that the facility would undergo routine maintenance from Thursday. February 12 to Sunday, February 15, 2026.
The NNPC stated that, “This planned activity forms part of standard industry safety and asset integrity protocols designed to ensure the continued reliability, efficiency, and safe operation of critical gas infrastructure.”
“Periodic maintenance of this nature is essential to sustain optimal system performance, strengthen operational resilience, and minimise the risk of unplanned outages,” it added.
“During the four-day maintenance period, there will be a temporary reduction in gas supply into the NGIC pipeline network. As a result, some power generation companies reliant on this supply may experience reduced gas availability, which could modestly impact electricity generation levels within the timeframe.
“NNPC Ltd and Seplat Energy are working closely to ensure that the maintenance is executed safely and completed as scheduled. In parallel, NNPC Gas Marketing Limited (NGML) is engaging alternative gas suppliers to mitigate anticipated supply gaps and maintain stability across the network,” the statement further said.
“Upon completion of the maintenance exercise, full gas supply into the NGIC system is expected to resume promptly, enabling affected power generation companies to return to normal operations,” it concluded.
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