Infrastructure finance marketing in Nigeria
Vektron Merchants finds infrastructure projects, sponsors and public owners in Nigeria for lenders, investors and contractors that want to finance or build there. We confirm the first meetings and plan the visit.
What does infrastructure finance marketing in Nigeria involve?
Nigeria brings private money into infrastructure through concessions and PPPs, and through a local bond market supported by credit guarantees. Infrastructure finance marketing in Nigeria means finding the projects and sponsors that match the client's mandate, checking them and reaching the people who control them.
Who are the main counterparties in Nigeria's infrastructure finance sector?
The Infrastructure Concession Regulatory Commission (ICRC) regulates federal PPPs under the ICRC Act 2005. The Nigeria Sovereign Investment Authority (NSIA) invests in infrastructure and is the largest shareholder in InfraCredit, which guarantees naira infrastructure bonds for pension funds and insurers. The Africa Finance Corporation (AFC) is also an InfraCredit shareholder. Federal ministries, state governments, sponsors and contractors make up the rest.
What a foreign company needs to prepare in Nigeria
A federal PPP needs an ICRC compliance certificate on its full business case before it goes to the Federal Executive Council for approval. Contractors for federal work need an Interim Registration Report from the Bureau of Public Procurement. A foreign-owned company must file with the Nigerian Investment Promotion Commission before it starts business.
What Vektron does, and what the client keeps
We build a list of projects, sponsors and public owners that fit the client's mandate and check each against public records and sanctions lists. Our staff reach the sponsors and project directors, confirm meetings in Abuja or Lagos, prepare the visit plan and introduce local advisers. Credit decisions, due diligence, legal advice, term sheets, negotiation and contracts stay with the client.
Questions
Who regulates PPPs in Nigeria? The Infrastructure Concession Regulatory Commission (ICRC), for federal projects.
What does InfraCredit do? It guarantees naira bonds issued for infrastructure, so that pension funds and insurers can lend to projects.