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UK’S Mobilist Facilitates Secondary Sale of Listed Shares in InfraCredit

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The UK’s Mobilist programme has successfully traded its investment in Nigerian credit guarantee company InfraCredit to five Nigerian pension funds, thereby helping to mobilise more local institutional investment toward infrastructure development critical to the country’s growth.

MOBILIST’s exit represents the biggest trade in InfraCredit’s shares since its listing by introduction on Nigeria’s NASD OTC Exchange Plc (NASD) in April this year. The transaction enabled five domestic institutional investors – pension funds and insurers – to take up shareholding in InfraCredit. Four of these funds did not participate in the initial listing.

InfraCredit is Nigeria’s first and only domestic creditor guarantor, issuing Naira-denominated guarantees that help to mitigate risk for investors and improve the creditworthiness of Nigerian infrastructure debt instruments. These guarantees enable Nigerian institutional investors to invest in instruments used to finance infrastructure projects.

The UK’s Foreign, Commonwealth, & Development Office (FCDO), through MOBILIST, invested NGN9.5 billion ($6 million) in Infracredit’s listing, which saw the company raise a total of ₦27 billion (US$17.7 million) after attracting investment from two local pension funds.

The listing broadened InfraCredit’s domestic institutional shareholder base and gave the company access to new sources of capital, expanding its capacity to provide guarantees for new infrastructure projects. The secondary sale of MOBILIST’s shares extends this impact, offering liquidity to untapped buyers who are natural long-term private sector equity holders but who did not participate at the initial point of listing.

Following the secondary sale, Nigerian pension funds will collectively own more than 27% of InfraCredit’s ordinary equity, reinforcing domestic institutional ownership and governance of a strategically important financial institution, alongside the public sector capital (including the UK) which remains invested in the company.

British Deputy High Commissioner (Lagos), Mr Jonny Baxter, said: “The UK consistently prioritises transformational investments that unlock commercial markets. InfraCredit is one such example, an indigenous guarantee platform which is now attracting Nigerian institutional investors.

“To date, InfraCredit has facilitated over ₦300 billion in financing, valued at more than $500 million equivalent indexed at issuance, in support of infrastructure development across Nigeria. We’re excited to see this momentum continue to grow, driven increasingly by domestic capital and delivering strong returns to Nigerian investors. A win-win where more infrastructure is built to support Nigerian businesses, and more value returned to Nigerian stakeholders.”

Mr Chinua Azubike, CEO of InfraCredit, said: “This secondary transaction is a proud milestone for InfraCredit and for Nigeria’s financial markets. It reinforces our long-term ownership vision that catalytic foreign investment can pave the way for sustained domestic institutional participation at scale.

“We are delighted to welcome four new Nigerian pension funds to our ownership base, a reflection of deepened market confidence and the growing role of local investors in financing Nigeria’s sustainable future.”

MOBILIST Programme Lead within FCDO, Mr Ross Ferguson said: “MOBILIST’s investment in InfraCredit proved the potential of using public markets to mobilise private – and importantly – local investment in sectors driving sustainable development and growth.

“The programme’s exit only reinforces this potential and highlights how innovative development finance can generate impact beyond an initial investment by contributing to the creation of deeper, more liquid capital markets while recycling capital for future investments.”

InfraCredit has also benefited from technical assistance, and catalytic investments facilitated by MOBILIST, Financial Sector Deepening Africa (FSDA), British International Investments (BII), the Private Infrastructure Development Group (PIDG), and FCDO-Nigeria. These contributions have played a critical role in de-risking local investments and mobilising domestic institutional capital towards green infrastructure projects.

 

The UK remains committed to partnering with Nigeria to develop its local capital markets, including through MOBILIST’s continued partnership with the Nigerian Exchange (NGX) to enable greater investment toward sustainable development through listed products.

 

The programme remains open to applications for technical assistance and catalytic equity investment toward initial public offerings (IPOs) and the development of new listed products.


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UK Appoints Peter Vowles as British High Commissioner to Nigeria

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The UK Government has announced the appointment of Mr Peter Vowles as the next British High Commissioner to the Federal Republic of Nigeria.

Mr Vowles succeeds Dr Richard Montgomery CMG and is expected to take up his post in Abuja in September 2026. Dr Montgomery remains in post until that time.

Mr Vowles brings extensive diplomatic and development experience to the role, having served as His Majesty’s Ambassador to Zimbabwe from 2023 to 2026 and previously as Ambassador to Myanmar from 2021 to 2022.

He has held senior leadership positions across the FCDO and its predecessor department DFID, including as Transformation Director and Director for Asia, Caribbean and Overseas Territories.

Earlier in his career, Mr Vowles worked in international development across South Asia, Central Africa and East Africa, including postings in Bangladesh, India, the Democratic Republic of Congo and Kenya. He began his career in Zimbabwe, where he worked in education and development.

Peter Vowles said: “I am honoured to be appointed as British High Commissioner to Nigeria. Nigeria is a country of immense importance to the United Kingdom, and I look forward to working closely with Nigerian partners to strengthen our relationship across trade, development and security.”


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Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

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World Bank has ranked the Apapa and Tin Can Island Port complexes in Lagos among the world’s 20 most improved ports in its 2025 Container Port Performance Index (CPPI), released in June 2026.

Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

The ranking places both ports in the “Top 20 Port Improvement Since 2020” category, reflecting significant gains in operational efficiency and vessel turnaround time.

The CPPI is a global benchmark used to assess the efficiency of container ports based on factors such as cargo handling speed, ship turnaround time and overall logistics performance.

According to the report, the improvement highlights ongoing reforms and modernization efforts within Nigeria’s maritime sector.

The Managing Director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, attributed the recognition to ongoing policy reforms and infrastructure upgrades in the sector.

He said the development reflects the impact of economic policies of President Bola Tinubu and the support of the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.

“With the investor-friendly policies of President Bola Ahmed Tinubu providing the impetus for increased investment to drive our port infrastructure and equipment modernisation programme, coupled with the unflinching support of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, we have all it takes to further enhance trade facilitation, improve competitiveness and boost the national economy,” he said.

The NPA said the recognition is expected to strengthen investor confidence in Nigeria’s maritime sector and enhance the country’s position as a regional trade and logistics hub.

It noted that improvements in port operations are already contributing to increased efficiency in cargo movement and reduced delays at key terminals.

The authority also pointed to ongoing efforts to modernise port infrastructure and expand digital systems aimed at improving service delivery.

Earlier in February 2026, the NPA said the federal government had intensified efforts to position Nigeria as a leading maritime destination through port rehabilitation and modernization projects.

It also highlighted public-private partnership initiatives, including developments at the Lekki Deep Sea Port, as part of broader reforms aimed at improving efficiency and attracting investment.

The CPPI ranking is expected to further boost Nigeria’s maritime profile and encourage additional investment in the sector.


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PalmPay Joins Industry Leaders @ Digital Pay Expo 2026

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As digital payment adoption continues to grow across Nigeria and emerging markets, the next phase will depend not just on innovation, but on the strength, reliability, and trustworthiness of the infrastructure behind it.

While the ecosystem has made clear progress in recent years, trust remains a critical issue for users, businesses, and operators alike. Questions around resilience, security, interoperability and transaction reliability continue to shape how the market evolves and how confidently digital payments can scale.

These issues will be central to the deliberations at Digital Pay Expo 2026, where fintech leaders, payment operators, and other ecosystem stakeholders will gather under the theme, “Seamless Digital: Fostering Pan-African Market Expansion in the Era of AI.”

PalmPay’s participation reflects its continued commitment to building trusted and scalable payment infrastructure, while contributing to the broader industry efforts to strengthen systems, standards, and partnerships needed to support long-term ecosystem growth.

Speaking ahead of the event, Olorunfemi Hanson, Head of Marketing and Communications at PalmPay Nigeria, said: “As the financial services ecosystem continues to grow, trust and reliability become even more important.

“The industry’s next phase will be shaped not only by innovation, but by the strength of the infrastructure supporting it. Digital Pay Expo provides an important platform to address the resilience, interoperability, and trust issues that will shape the future of digital payments growth across Africa.”

The event, scheduled to be held from the 17th to the 18th of June, 2026, will feature Chika Nwosu, Managing Director of PalmPay Nigeria, alongside other distinguished guests, including the Director-General, Payment System Management Department (PSMD), Central Bank of Nigeria. The event will examine how the industry can balance innovation, regulation, and scalability while strengthening trust across the digital payments value chain.

For PalmPay, this event reinforces its role in supporting a more resilient, secure and scalable payments ecosystem for Nigeria and emerging markets more broadly.


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