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By Collins Nweze

Asset mangers will oversee the N15 trillion Infrastructure Corporation of Nigeria Limited (InfraCorp), it was learnt at the weekend.

The Central Bank of Nigeria (CBN) has commenced move to hire appropriate managers.

The InfraCorp vehicle is to enable the use of private and public capital to support infrastructure investment that will have  multiplier effects on growth across critical sectors.

The InfraCorp, billed to take off in the second quarter, has a combined debt and equity take-off capital of N15 trillion be managed by an independent infrastructure fund manager.

The dedicated privately-managed infrastructure and industrial vehicle will harness opportunities for Nigeria’s infrastructure development by originating, structuring, executing and managing end-to-end bankable projects in that space.

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The CBN and other promoters, the Africa Finance Corporation (AFC) and the Nigeria Sovereign Investment Authority (NSIA), are now requesting for expression of interest proposals from qualified asset managers in the infrastructure sector to manage the newly-created world class institution.

The asset manager, the apex bank said, will be responsible for establishing a General Partner/Asset Manager organization, develop the consolidated business plan and financial model for InfraCorp and its subsidiaries.

Speaking at the weekend in Lagos on the InfraCorp  takeoff, CBN Governor Godwin Emefiele said  funds will be utilized to support the Federal Government in building the transport infrastructure required to move agriculture products to processors, raw materials to factories, and finished goods to markets.

He said President Mohammadu Buhari has continued to give necessary approvals and support to establish the company.

Emefiele said: “InfraCorp will be co-owned by the CBN, the African Finance Corporation and the Nigerian Sovereign Investment Authority, and would become fully operational by the second quarter of 2021”.

He said the InfraCorp vehicle would enable the use of private and public capital to support infrastructure investment that will have a multiplier effect on growth across critical sectors.

Following an expression of interest, the apex bank said the successful asset manager will also be responsible for establishing a General partner/asset manager organization, to develop the consolidated business plan and financial model for InfraCorp and its subsidiaries.

The asset manager is also expected to manage the day-to-day operations of the Asset Management business of InfraCorp; plan, lead and coordinate the promotion of InfraCorp and capital raising activities and design the optimal capital structure of InfraCorp and its subsidiaries best suited to its investment objectives.

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