• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, September 1, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

InfraCredit Guarantees N3bn Debt Financing For 370 Affordable Housing Units

by Zaka Khaliq
2 years ago
in Business
InfraCredit
Share on WhatsAppShare on FacebookShare on XTelegram

Infrastructure credit guarantee institution, (InfraCredit), has guaranteed N3 billion initial debt financing under a N12.5 billion debt programme for Modern Shelter Systems and Services Limited for the development of 370 affordable housing units in the country.

Advertisement

This is according to IFC’s green building standard (EDGE) in Nasarawa Technology Village under a co-financing structure with the Shelter Afrique Development Bank even as this project aims to develop up to 1,200 EDGE-certified housing units in Nasarawa State.

This transaction is the first housing project to be executed under the InfraCredit’s Affordable Housing Funding Programme. The Programme seeks to address the funding constraints faced by developers resulting from the lack of an institutional mechanism to provide both developers and homebuyers with access to affordable funding required to make both home financing and the final sale predictable and scalable. 

The programme is being implemented in collaboration with development partners through technical assistance support.

InfraCredit has a pipeline of affordable housing developers under the Programme that will benefit from technical assistance support and transaction structuring towards a local currency bond issuance and incorporating E&S best practices. 

RELATED

Keystone Bank Partners LCCI To Launch MSME Mini Business Boot Camp

Keystone Bank Partners LCCI To Launch MSME Mini Business Boot Camp

8 hours ago
Union Bank

Union Bank, Titan Trust Merger Gets CBN Nod

9 hours ago
ADVERTISEMENT

To date, InfraCredit has originated an initial pipeline of EDGE-compliant housing infrastructure projects sized at over N70 billion from six housing developers, requiring InfraCredit’s guarantee support for their respective construction debt issuances.

Nigeria, with a current population of 213 million, faces a significant housing deficit with a population projected to reach 400 million by 2050, necessitating an annual construction of at least 900,000 units. 

The Project was conceived as a Public-Private Partnership (PPP) arrangement between the Nasarawa State Government and ABS Blueprint Limited in 2021 and following the execution of a concession agreement, Modern Shelter was appointed as the preferred developer to implement the Project under the design-build-finance-operate-maintain (DBFOM) project delivery model.  

ADVERTISEMENT

The upfront due diligence and transaction costs including the EDGE certification costs for the Project were supported by funding provided by the Private Infrastructure Development Group (PIDG) through InfraCredit co-founder GuarantCo, under the Technical Assistance (TA) Grant Agreement with InfraCredit which was designed to support InfraCredit’s Programme to help develop a scalable and sustainable approach to improving affordable housing delivery in Nigeria.

Chief executive officer of InfraCredit,  Chinua Azubike said: “We are excited with the successful closing of this transaction and the significance of the project in the housing sector, because of our ability to replicate and scale its impact. Sustainable green housing delivery is the pathway to a balanced built environment, and with the success of this transaction with Modern Shelter, we have a unique opportunity to work with our development partners in demonstrating innovative financing solutions to transition into new buildings, designed to meet energy efficiency standards, create green jobs and support climate resilient economic growth.

“The Nasarawa Technology Village project underscores a successful example of public–private partnerships as a mechanism of unlocking climate financing for sustainable development. “

Managing director of Modern Shelter, Abdulmalik Mahdi, said: “Modern Shelter is proud to have emerged as a pioneer adopter of EDGE in 2021 (under a previous project Earth-Point Modern Shelter) and this recent transaction marks another significant milestone for Modern Shelter, providing us with access to stable, well-structured, long-term funding essential for delivering EDGE-certified affordable housing. 

“This achievement owes much to the invaluable support of InfraCredit and Shelter Afrique. In collaboration with ABS Blueprint Limited and the Nasarawa State government, we are wholeheartedly dedicated to alleviating Nigeria’s housing deficit with an unwavering focus on ensuring the project’s quality and timely completion.”  

Head of PIDG TA, Emilio Cattaneo, said: “PIDG is proud of its involvement in this project since early 2021, and to have supported InfraCredit and the Housing Solutions Fund through the provision of a grant facility to finance a number of the critical workstreams of this pioneering initiative.”

Chief investment officer, Housing Solution Fund, Maurice Okoli, said “I firmly believe that increasing homeownership accessibility and affordability relies on embracing innovative and collaborative frameworks. Our commitment is unwavering as we strive to eliminate fragmentation within the housing sector while fostering strategic partnerships in a dynamic ecosystem that spans both the demand and supply sides. We look forward to participating in more transactions with InfraCredit and Shelter Afrique.”

The managing director, Shelter Afrique, Thierno-Habib Hann, said:  “In forging this partnership, we are not just expanding the scope of infrastructure to include housing, but also amplifying the impact of inclusive development. By combining the strengths of Shelter Afrique and InfraCredit, we are pioneering an approach that harmonises housing with traditional infrastructure, thereby addressing crucial needs and transforming communities.”

 


Join Our WhatsApp Channel



Tags: Infracredit
SendShare10173Tweet6358Share
ADVERTISEMENT
Previous Post

Heirs Energies Receives Award On ‘Excellence In Sustainable Energy Operations’

Next Post

Japa: Experts Proffer Solutions On Mass Migration Of Nigerians

Zaka Khaliq

Zaka Khaliq

You May Like

Keystone Bank Partners LCCI To Launch MSME Mini Business Boot Camp
Business

Keystone Bank Partners LCCI To Launch MSME Mini Business Boot Camp

2025/09/01
Union Bank
Business

Union Bank, Titan Trust Merger Gets CBN Nod

2025/09/01
Afrique Mommies Award 2025 To Honour Service, Culture Icons
Business

Afrique Mommies Award 2025 To Honour Service, Culture Icons

2025/09/01
Chevron Honoured For Community Development Initiatives
Business

Chevron Honoured For Community Development Initiatives

2025/09/01
CAC Launches AI Portal For 30-Minute Business Registration
Business

CAC Shifts Implementation Of New Service Fees To October 1, 2025

2025/09/01
Bear Resurfaces As Equities Investors Lose N639bn
Business

FX Stability, Capital Inflows Drive N26trn Gain In Stock Market

2025/09/01
Leadership Conference advertisement

LATEST

Simon Ekpa’s Conviction Is His Burden, Not Ours — IPOB

255 Schools Receive 14,180 Cocoa, Cashew Seedlings In Kwara

Court Jails 2 Traders Of Popular Lagos Market For Trafficking Indian Hemp

Tottenham Sign Kolo Muani On Loan From PSG

Man Utd Agree Deal To Sign Lammens From Royal Antwerp

Nigeria’s Defence Chief Commends Finnish Court’s Verdict On Simon Ekpa

Kano Police Arrest 107 Suspected Criminals, Recover Weapons, Drugs

2027: Wike Opposes Peter Obi’s Return To PDP, Says It Will Lead To Self-destruction

British-Nigerian Actor Junior Salokun Set To Star In Nollywood

Suspected Russian GPS Jams EU Chief’s Aircraft Navigation System In Bulgaria

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.