IFC will partner with the Nigeria Sovereign Investment Authority (NSIA) to develop, finance, and implement infrastructure projects that will contribute to economic growth, jobs creation and social development in Nigeria.

The partnership will help mobilize public and private resources that will open the Nigerian market for infrastructure investments in sectors such as power, gas, transport, housing, and healthcare.

In addition, the partnership will include co- project development on some projects, as well as IFC supporting the Nigeria Sovereign Investment Authority through advice, given IFC's global expertise and experience on infrastructure development.

Nigeria Sovereign Investment Authority was established by the Federal Republic of Nigeria to promote fiscal stability, build a savings base for future generations of Nigerians and enhance the development of Nigeria's infrastructure.

Uche Orji, Managing Director of NSIA, said:

"Our agreement with IFC reflects NSIA's commitment to enhance partnerships with the private sector that deliver on our shared aspiration of developing infrastructure projects more effectively in Nigeria. Through this collaboration with IFC, NSIA is better positioned to fulfill its mandate of developing infrastructure projects while attracting global investors."

Solomon Adegbie-Quaynor, IFC Country Manager for Nigeria, said:

"Infrastructure is a priority focus area for IFC. IFC aims to help increase access to basic infrastructure services in Nigeria by structuring commercially viable projects, facilitating private investments, and building partnerships that enhance infrastructure financing. We believe that our partnership with NSIA will bring development to the broader infrastructure sector and foster sustainable economic growth for Nigeria."

The NSIA's investments are made through three distinct funds: The Stabilization Fund, the Future Generations Fund and the Nigeria Infrastructure Fund.

Source: IFC