The aim of the Nigeria Infrastructure Advisory Facility (NIAF) programme is to facilitate and accelerate infrastructure reform and development by improving access to technical assistance responsive to the particular issues encountered by the public and private sectors in infrastructure. InfraCredit, a specialized infrastructure credit guarantee institution, has announced its guarantee of Transport Services Limited’s (‘’TSL’’) N12billion 10-Year Series 1 Senior Guaranteed Fixed Rate Infrastructure Bonds due 2030, as part of a larger N50billion Debt Issuance Programme. The Five-Year Plan In accordance with the NSIA Act, each year, a Five-Year Infrastructure Investment rolling plan is to be developed pursuant to such strategies, regulations, policies and guidelines as it may determine to be most effective to achieve its objectives. Reporting to a Portfolio Manager under the Nigeria Infrastructure Fund, the successful candidate will support the Portfolio Manager in the investment of the Infrastructure Fund in projects within the following sectors – Power, Agriculture, Healthcare, Motorways and Gas Industrialization. AfDB’s commitment to the NIDF was on the back of a detailed due diligence and review process undertaken by a multi-disciplinary team of AfDB experts. NSIA to invest $5 million in Chapel Hill Infrastructure Fund, Top 10 Stockbroking firms trade shares worth N138.1 billion in January, Nigerian mutual funds made an estimated N1.9 billion gain in 2018, Chapel Hill Denham Nigeria Infrastructure Debt Fund. A pioneering US$250 million closed-ended specialist PE Infrastructure Fund, ARMHIF is structured in line with international best practice and core investment focus is on transportation, Energy, and Utilities in West Africa, and primarily Nigeria. They can be considered as an Islamic version of conventional bonds. Overview. The FGN issues bonds for numerous reasons which include; financing government’s fiscal deficits, diversifying government financing sources, deepening savings and investment culture in the country amongst others. The IPS was adopted by the Board of Directors in Q4 2013. Reporting to a Portfolio Manager under the Nigeria Infrastructure Fund, the successful candidate will support the Portfolio Manager in the investment of Infrastructure Fund in projects within the following sectors - Power, Agriculture, Healthcare, Motorways and Gas Industrialization. Nigeria’s President Muhammadu Buhari signed, on 25 January 2019, the Executive Order No. The Fund is a Close‐Ended Fund, domiciled in Nigeria, and shall be denominated in Naira. A leading Nigerian investment bank announced Chapel Hill Denham Nigeria Infrastructure Debt Fund Series 7 Offer of up to N20.24 Billion. Nigerian state-owned Infrastructure Credit Guarantee Company plans to raise additional capital to fund critical projects in Africa’s biggest economy. On December 14th, 2020, Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF) opened a US$9.2 million (nearly 3.6 billion Nigerian Naira) line of credit to support Starsight Power Utility’s operations in Nigeria. NSIA is interested in strategic “high-impact high-value” opportunities across the entire healthcare value chain that will facilitate the delivery of high quality, affordable and accessible healthcare services to Nigerians. READ: NSIA to invest $5 million in Chapel Hill Infrastructure Fund What you should know NSIA has identified the affordable and mass housing real estate segment as a critical target segment for its real estate sector strategy. Starsight Closes $9.2 Million Senior Debt Facility from Nigeria Infrastructure Debt Fund December 14, 2020. National Institutes Of Health. In anticipation of the implementation of a new national tolling policy, following the release of a policy green paper by the Ministry of Works, NSIA is actively pursuing investments in road infrastructure delivery and maintenance to improve the general state of the roads, reduce the funding burden on the Federation Account and introduce private sector efficiencies to the procurement, delivery and management of road infrastructure. The IPS provides an investment framework for the NIF, setting out the NIF's investment objectives, risk tolerance and constraints. The Chapel Hill Denham Nigeria Infrastructure Debt Fund is the first and only infrastructure debt fund dedicated to and domiciled in Nigeria. The Federal Government of Nigeria through the Debt Management Office has revealed that it received total bids of N134.056 billion for December 2020 bond offer worth N60 billion, indicating it was oversubscribed by N74.056 billion (over 220%). Entity: Chapel Hill Denham Nigeria Infrastructure Debt Fund, Fund Manager: Chapel Hill Denham Management Limited. Start-up capital was provided by a number of sources. According to the disclosure, Nairametrics learnt that with the support of InfraCredit’s guarantee, the Series 1 Bonds issued by TSL was accorded ‘AAA’ long term credit rating by Agusto and Co. and DataPro Limited, indicating a high level of creditworthiness and credit quality. Chapel Hill… FAFIN is a US$100 million target agriculture-focused investment fund that provides tailored capital and technical assistance solutions to commercially-viable small and medium-sized enterprises (SMEs) and intermediaries across the agricultural sector in Nigeria. Highlights of the Chapel Hill Denham Nigeria Infrastructure Debt Fund include: Olumide Adesina is a France-born Nigerian. Read also: Infrastructure in Nigeria: Unlocking Pension fund investments (2) Observers noted that if there were guarantee payment losses, those of course would also be operating losses for the Company. 007 on Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme (the Scheme). Stanbic IBTC Capital Limited and ARM Securities Limited acted as joint Issuing Houses/Bookrunners for the transaction. Transport Services Limited (‘’TSL’’) is a leading transport and logistics company co-founded by Ayodeji Wright and Wale Fatoki in 2001. The Nigeria Sovereign Investment Authority, NSIA, on Wednesday announced that it will invest in the Nigeria Infrastructure Debt Fund, NIDF. With a population of nearly 160 million people, rapid urbanisation and a substandard housing stock, there is a need to provide housing at all levels, particularly in the low and middle income segments. It offers value-added logistics and distribution services to a wide range of corporate and retail clientele in industries such as agro-processing, FMCG, oil and gas, cement, amongst others under fixed-term contracts. The Proxy Form […] Since its inception in June 2017, the fund has delivered a total return of 82.3% (assuming the cash distributions were reinvested). This is according to a notification by InfraCredit, seen by Nairametrics. This institution provides the opportunities for business owner running … In lieu of this, the deal was oversubscribed by eighteen (18) institutional investors including eleven (11) domestic pension funds. The Islamic or sharia-compliant bond also called Sukuk, is an interest-free Islamic financial certificate that represents a portion of ownership in a portfolio of eligible existing or future assets. Pension Fund Administrators (PFAs) can invest up to N2.4trillion in infrastructure funds and bonds if not for the non-availability of such eligible funds and bonds in the financial market. The cash yield generated by the CHD NIDF has consistently been above the 10-yr FGN. Reporting to the Head, Nigeria Infrastructure Fund, the successful candidate will be responsible for ensuring prudent investment of the Infrastructure Fund in projects such as power generation, distribution and transmission, agriculture, dams, roads, rail, airports etc. The Nigeria Infrastructure Fund (NIF) focuses entirely on domestic investments in selected infrastructure sectors with a 40% allocation of Funds under Management. It also disclosed that African Development Bank (AfDB), following its announcement in October 2018 to invest in the NIDF, will be committing the Naira equivalent of USD$10 million to the series 7 offer. Nairametrics learnt that the deal is the first 10-year bond issuance by any company in the transportation and logistics sector. READ: Top 10 Stockbroking firms trade shares worth N138.1 billion in January. View Infrastructure Fund Investment Policy, National priority and potential for nationwide economic development impact, Potential for attractive commercial and social returns. The Fund Managers Association of Nigeria “FMAN” is an independent, non-governmental, non-political and non-profit making body that was established in August, 2009. Katsina state is set to secure a N55 billion bond from the Islamic Development Bank with a 7 year maturity period. The local company provides hybrid off-grids for factories and businesses across Africa. It provides amongst other things, that a minimum of 75% of the Infrastructure Fund shall be invested in projects within Nigeria. The 10-year debt facility will enable the Nigerian solar power supplier to expand its existing portfolio. In addition, NSIA remains interested in the commercial real estate (office buildings, malls) and the hospitality sub-sectors (5-Star hotels and other luxury real estate). READ: Nigerian mutual funds made an estimated N1.9 billion gain in 2018. Reporting to a Portfolio Manager, in Nigeria Infrastructure Fund, NSIA, the successful candidates will Support the Portfolio Manager in the investment of the Infrastructure Fund in essential and efficient infrastructure such as power generation, distribution and transmission, agriculture, dams, roads, rail, airports … The NIF is managed by an in-house team of investment professionals tasked with identifying infrastructure investments, undertaking project development for potential investments and recommending projects for investment to the Board. Consequently, NSIA in partnership with Julius Berger is developing a project to finance, construct, operate and maintain the Second Niger Bridge, improving the connection between the Southern and Western regions of Nigeria. This site uses Akismet to reduce spam. Program: ₦200 Billion under which the Units will be issued from time to time. Infrastructure Investment Models for Nigeria Infracredit – Core Capital and Contingent Capital Infracredit was a newly formed specialized financial guarantor established to support long term infrastructure financing in Nigeria. The Central Bank of Nigeria (CBN) will make N250 billion available for infrastructure funding in a bid to expand gas use and cut reliance on imported fuel … This is in order to stimulate the growth and diversification of the Nigerian economy, attract foreign investment and create jobs for Nigerians. Date of effectiveness: 2011 to 2013. INFRASTRUCTURE FUND: Fund Name: NAV Per Share: Yield / T-Rtn: Chapel Hill Denham Nigeria Infrastructure Debt Fund: 107.71 : 13.11%: About FMAN. The Fund is dedicated to spurring agriculture-led inclusive economic growth in Nigeria through enhanced agricultural productivity, value-added processing, and market linkages throughout the value chain. Nature of the Fund The Fund is classified as an infrastructure fund under the Rules for Infrastructure Funds issued by the SEC. Learn how your comment data is processed. We will leverage the investment and technical expertise of our strategic partners to deploy much needed capital within the sector on a commercial basis while driving development in this key sector of the nation’s economy. Furthermore, an Infrastructure Fund Investment Policy Statement (IPS) was also developed. Our strategy is to invest alongside private investors in attractive projects across the power sector value chain. Our funds are focused on areas accretive to Africa’s and Nigeria’s economic development targeting sectors such as Infrastructure, Energy and Renewables, Real Estate, SMEs, Financial Inclusion, Healthcare and Education. InfraCredit is set to guarantee of TSL’s NGN12.0 billion 10-Year Series 1 Senior Guaranteed Fixed Rate Infrastructure Bonds. This implies that Nigeria’s public capital stock per head is lower than the global average, a situation that has constrained the growth in … Prospects for Pension Funds Investment in Infrastructure The growing interest in pension funds as an infrastructure development strategy in Nigeria has been linked to the following factors: Gas-to-Power, Fuel for Senegal’s Transition December 14, 2020 Management focused on sectors of: Agriculture is a sector of strategic importance to NSIA and an area where we see opportunities for significant economic impact and robust financial returns through direct investments in critical agriculture infrastructure, strategic trading platforms and indirectly via agriculture-focused funds. According to sources from the News Agency of Nigeria, the Commissioner revealed that the bond will be judiciously used to bridge the infrastructural gap in key sectors of the state economy, such as education and health. Follow Olumide on Twitter @tokunboadesina or email [email protected] Ability to unlock private sector participation. FGN Bonds are debt securities issued by the Debt Management Office (DMO) for and on behalf of the Federal Government and backed up by its ‘full faith and credit’. Compliant with PENCOM Investment Guidelines and SEC Rules on Infrastructure Funds. Roads: Adequate road infrastructure is central to Nigeria’s economic growth; it is at the core of good governance and public welfare. © Copyright 2016 Nigeria Sovereign Investment Authority. The bond proceeds will be used to refinance TSL’s short-term loans to matching long term fixed rate debt that will sustainably support its consistent business growth and expansion plans. In December 2013, the Board approved a US$10 million commitment to the Fund for Agricultural Finance in Nigeria (FAFIN), as one of three Fund sponsors, alongside the Nigerian Federal Ministry of Agriculture and Rural Development (FMARD) and KfW, the German Government-owned development bank. x. The Scheme is for a period of 10 years from its commencement date (remains to be clarified). Any improvement in road infrastructure … In Nigeria, Starsight Power Utility will expand its operations. READ: NSIA to invest $5 million in Chapel Hill Infrastructure Fund. The Chief Executive Officer, Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji, has again stressed the need for Nigeria to turn its infrastructure into investible assets by investing more in it. Given the pivotal role of power generation and distribution in our economy, particularly in light of the nation’s strategic focus on developing its industrial base, NSIA has targeted the power sector as a key focus sector. The FGN has an obligation to pay the bondholder the principal and agreed interest (tax-free) as and when due. Choosing the Focus Sectors. With the ongoing transformation of Nigeria’s power sector through privatization, there are significant opportunities for the NIF to participate in. Chapel Hill Denham Management is Nigeria’s leading alternative asset manager. Total returns for the trailing twelve months (up to September 2020) was 12.4%. According to the IMF, Nigeria’s infrastructure stock of c.25% of GDP remains far below the 70% international benchmark. Commenting on the recent development, the Chief Executive Officer of Transport Services Ltd (TSL), Mr. Ayodeji Wright, stated that: On the other hand, the CEO of InfraCredit, Chinua Azubike, remarked that. Analyst, Nigeria Infrastructure Fund (NIF) job at Nigeria Sovereign Investment Authority – Recruitment is ongoing at the Nigeria Sovereign Investment Authority About Nigeria Sovereign Investment Authority The Nigeria Sovereign Investment Authority (“NSIA” or “The Authority”) is an agency of the Federation set up to manage funds in excess of budgeted hydrocarbon revenues. Chapel Hill Denham Advisory Limited and Chapel Hill Denham Management Limited announced the opening of Chapel Hill Denham Nigeria Infrastructure Debt Fund Series 7 Offer of up to N20.24 billion under the CHD NIDF’s N200 billion Issuance Programme. The Fund is an Infrastructure Fund under the rules and regulations of the Securities & Exchange Commission, Nigeria and the National Pension Commission, Nigeria. He is a Member of the Chartered Financial Analyst Society. This is according to a disclosure by DMO via its website, as seen by Nairametrics. Nairametrics gathered that the oversubscription is sequel to higher rates for December 2020 at 6.945% and 7.000% for the 15-year and 25-year FGN Bonds, compared to the rates of 5.000% and 5.785% at the last auction in November 2020. googletag.pubads().definePassback('/42150330/nairametrics/Nairametrics_incontent_new', [300, 250]).set("page_url", "%%PATTERN:url%%").setClickUrl("%%CLICK_URL_UNESC%%").display(); Get the scoops and market intelligence that can helpyou make better investment decisions right in yourmailbox. In pursuit of the objectives of the NIF, a Five-Year Infrastructure Investment rolling plan (the Five-Year Plan) has been prepared to provide strategic guidance for NIF investments. In the current volatile yield environment, the NIDF still remains a compelling investment outlet, both from a total return and cash yield perspective. Nature of the Fund The Fund is classified as an infrastructure fund under the Rules for Infrastructure Funds issued by the SEC. The proceeds from the offer will be applied towards infrastructure loans approved by the fund manager’s investment committee. Your email address will not be published. With net assets in excess of N58.6 billion, the Fund continues to deliver consistent and predictable returns, along with principal preservation to investors. Traditional insurance companies and banks would expense and carry a loan loss reserve (in this instance a guarantee loss reserve). The Fund has a maximum term of 99 years, subject to Nigeria’s tax collection too low to fund infrastructure, others, says Bill Gates. Consequently, NSIA has entered into strategic partnership agreements with the Federal Ministry of Health and leading global healthcare sector participants to identify and invest in healthcare infrastructure projects. These objectives include supporting, through investment predicated upon financial returns to NSIA, the development in Nigeria of essential infrastructure such as power generation, distribution and transmission infrastructure, healthcare infrastructure, real estate, agriculture, transport infrastructure, water resources infrastructure, amongst others. In narrowing down to the Focus sectors for the Five-Year Plan, management consulted with relevant sector experts, regulatory agencies, strategic partners, Ministries, Department and Agencies (MDA's) etc. The Chapel Hill NIDF, which is the pioneer Infrastructure Debt Fund in Nigeria and Sub-Saharan Africa, has its investment focus on the traditional infrastructure sectors, primarily transport, power, renewable energy, utilities, energy infrastructure, logistics, and other public-private-partnership type investments. Nigeria Infrastructure Fund The Nigeria Infrastructure Fund (NIF) focuses entirely on domestic investments in selected infrastructure sectors with a 40% allocation of Funds under Management. Our identification of these target segments is predicated upon the large housing deficit in Nigeria and the growing middle class demography in the country. Kindly be informed that the Extra-Ordinary General Meeting of Chapel Hill Denham Nigeria Infrastructure Debt Fund (the Fund) is scheduled to hold virtually: Date: Wednesday September 16, 2020Time: 10:00 a.m. Kindly find below the updated Notice of Meeting, the schedule of material amendments to the Programme Trust Deed, and the Proxy Form. ... so it is very tough to fund infrastructure and education,” he added. Chapel Hill Denham Advisory Limited and Chapel Hill Denham Management Limited announced the opening of Chapel Hill Denham Nigeria Infrastructure Debt Fund Series 7 Offer of up to N20.24 billion under the CHD NIDF’s N200 billion Issuance Programme. The Fund is a Close-Ended Fund, domiciled in … Structure: Close-ended Unit Trust, regulated by the Nigerian Securities & Exchange Commission. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. The Commissioner for Finance in Katsina State, Alhaji Kasim Mutallab, has revealed that the State Government is set to secure a 7-year bond from the Islamic Development Bank worth N55 billion. By Timileyin Omilana. Nigeria will establish a $25 billion Infrastructure Development Fund to finance projects in the country, the Minister of Budget and National Planning, Udoma Udo-Udoma, has said. 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