Africa Finance Corporation, Exchange Partner To Boost Infrastructure Funding Via Capital Markets

The Africa Finance Corporation (AFC) and Nigerian Exchange Limited (NGX) have partnered to strengthen Nigeria’s capital markets, aiming to finance the country’s massive infrastructure deficit, estimated to reach $2.3 trillion by 2043.

The two institutions 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 and 18, 2025, 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.

The workshop was convened to address the urgent need for innovative financing mechanisms capable of mobilising long-term domestic capital into bankable infrastructure opportunities.

The executive board member and head of Financial Services at AFC, Banji Fehintola, 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 only project financing but also the entire 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.”

The chief executive officer of NGX, Jude Chiemeka, highlighted the importance of deepening expertise across the market, saying, “as capital markets assume a more central role in financing Africa’s development, building technical depth across the entire ecosystem becomes essential.”

According to him, through NGX X-Academy, our dedicated capacity-building platform, we are equipping market participants with the specialised knowledge required to originate, structure and manage infrastructure assets that meet both local needs and global investment standards. This collaboration with AFC is a crucial step in ensuring that Nigeria and the wider region develop the institutional capabilities to attract and deploy patient capital on a large 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.

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 mobilise long-term domestic and international capital for infrastructure.