AFC, NGX strengthen market capability to unlock capital for Nigeria’s infrastructure development

Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, and Nigerian Exchange Limited (NGX), the sustainable exchange championing the development of Africa’s largest economy have concluded a two-day capacity-building programme designed to strengthen the technical capabilities required to structure and finance infrastructure projects through Nigeria’s capital markets.

The two-day workshop, held on November 17–18 in Lagos, convened professionals from regulatory agencies, institutional investors, project sponsors, and financial institutions to strengthen capacity in project and infrastructure finance, and to explore how Nigeria’s capital markets can serve as a critical platform for financing sustainable infrastructure.

Nigeria’s infrastructure deficit, long recognized as a constraint on productivity and competitiveness, is estimated to reach $2.3 trillion by 2043, with some projections rising toward $3 trillion over the coming decades. The workshop was convened to address the urgent need for innovative financing mechanisms capable of mobilising long-term domestic capital into bankable infrastructure opportunities.

Banji Fehintola, Executive Board Member and Head of Financial Services at AFC said,” Closing the continent’s funding gap requires building local expertise and robust market structures that can support complex, long-term projects. At AFC, we are committed to advancing not just project financing, but the full framework required to deliver bankable, sustainable infrastructure solutions. Our partnership with NGX reflects our belief that Nigeria’s capital markets can and must play a pivotal role in mobilising the scale of domestic resources required to drive the country’s long-term development.”

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Over the two-day programme participants explored frameworks for project structuring, risk allocation and credit enhancement- tools essential for bringing infrastructure assets to market. The sessions also examined emerging capital market instruments including green bonds, infrastructure REITs, blended finance structures and partial risk guarantees, highlighting practical pathways to mobilize long-term domestic and international capital for infrastructure.

Jude Chiemeka, Chief Executive Officer of NGX, highlighted the importance of deepening expertise across the market: “As capital markets assume a more central role in financing Africa’s development, building technical depth across the entire ecosystem becomes essential. Through NGX X-Academy, our dedicated capacity-building platform, we are equipping market participants with the specialized knowledge required to originate, structure and manage infrastructure assets that meet both local needs and global investment standards. This collaboration with AFC is a critical step in ensuring that Nigeria and the wider region develop the institutional capabilities to attract and deploy patient capital at scale.”

The workshop marks a milestone in the growing collaboration between AFC and NGX, reinforcing their shared commitment to unlocking sustainable, market-led infrastructure financing. Both institutions plan to build on this momentum through follow up initiatives aimed at deepening engagement and translating insights from the programme into tangible financing solutions for critical infrastructure projects.

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.

Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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