First Asset Management Launches N100 Billion Fund to Bridge Nigeria’s Infrastructure Gap

In a landmark move to accelerate infrastructure development and unlock sustainable growth,
First Asset Management Ltd. has announced the launch of a ₦100 billion Infrastructure
Fund, aimed at addressing Nigeria’s long-standing infrastructure financing deficit.

The fund, structured as a long-term, impact-driven investment vehicle, will focus on critical
sectors such as transportation, energy, housing, and digital infrastructure — all identified as
key enablers of inclusive economic growth.

At the official launch in Lagos, the firm’s Managing Director, Mr. Chuka Nwokedi,
emphasized the urgent need for private sector-led solutions to Nigeria’s infrastructure
challenges:

“Nigeria needs over $100 billion annually for the next decade to close its infrastructure gap.
Government alone cannot shoulder this responsibility. With this fund, we’re offering a
private capital solution that blends financial returns with social impact.”

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The First Infrastructure Fund will channel capital into both greenfield and brownfield
projects, prioritizing ventures that demonstrate strong governance, sustainability, and
economic multiplier effects — including job creation and rural development.

To ensure transparency and stakeholder confidence, the fund will be managed in line with
Environmental, Social and Governance (ESG) principles, with oversight from a multi-
stakeholder advisory board made up of development experts, economists, and civil society
leaders.

Industry stakeholders have welcomed the move as a timely intervention, especially as Nigeria
continues to grapple with power shortages, poor transport networks, and housing deficits.

“This is more than just a financial commitment — it’s a signal that Nigerian capital is ready
to take the lead in solving Nigerian problems,” said Aisha Lawal, a development finance
specialist. “It’s the kind of bold, impact-focused investment we need.”

In addition to financing infrastructure directly, part of the fund will support public-private
partnerships (PPPs) and local contractors to build capacity and scale participation in large-
scale projects.

With its first tranche expected to be deployed before Q4 2025, the fund is set to stimulate
economic activity, reduce bottlenecks for SMEs, and improve living standards for millions of
Nigerians.