Chapel Hill Denham to list infrastructure debt fund on NGX

Nigeria's infrastructure development has long been plagued by under-investment, hindering the country's economic growth potential. Anshul Rai, the CEO of the Nigeria Infrastructure Debt Fund (IDF), is on a mission to drive debt investments in infrastructure projects in the country. Rai aims to list the IDF on the Nigerian exchange, including on the Nigerian Exchange (NGX), to open up opportunities for a wider investor base. In a recent interview with CNBC Africa, Rai discussed the progress of the fund, the criteria for project selection, and the future targets for the IDF. The conversation shed light on the importance of infrastructure in Nigeria's economic growth and the steps being taken to address the infrastructure deficit in the country. The IDF, which already has a capital base of $93 billion Naira, has made significant investments in various sectors such as power, utilities, transportation, and digital infrastructure across different regions of Nigeria. Despite the progress made so far, Rai emphasized that the fund is just scratching the surface and sees the journey as a long-term commitment that will unfold over decades. The IDF's meticulous due diligence process ensures that each investment meets stringent criteria to ensure bankability and long-term viability. By focusing on the debt aspect of infrastructure investing, the IDF mitigates risks associated with project preparation, allowing equity owners to carry a significant portion of the initial project risks. Looking ahead, Rai revealed ambitious plans to raise additional funds, starting with a $25 billion Naira target, with the potential to surpass $200 billion Naira in the coming years. The IDF's expansion to the NGX will not only attract more investors but also contribute to bridging the infrastructure gap in Nigeria, unlocking new opportunities for growth and development. As the CEO of the IDF, Rai's vision and strategic approach are poised to make a significant impact on Nigeria's infrastructure landscape, paving the way for sustainable economic advancement and social development.