¶¹ÄÌÊÓƵAPP

Operational Plan for a National Infrastructure Finance and Guarantee Facility in Nigeria


  • SOLICITATION NUMBER: 0002011527
  • INSTITUTION:  IFC , MIGA
  • ASSIGNMENT LOCATION: Nigeria
  • ISSUE DATE AND TIME: Sep 24,2024 12:46
  • CLOSING DATE AND TIME: Oct 08,2024 23:59

Nigeria¡¯s revised National Integrated Infrastructure Master Plan (NIIMP) of 2020 projects an estimated infrastructure investment of US$2.3 trillion over the 23-year period; and about US$150 billion annually between 2021 and 2025. The energy and transportation sectors are estimated to require the largest investments of more than 50% over the planned period. A review of the capital expenditure allocation by the Federal Government into infrastructure investment make clear that public funds alone cannot bridge this gap. Additionally; Nigeria is classified as one of the ten most vulnerable countries in the world with climate change predicted to negatively impact infrastructure development. Tracked climate financing is markedly low and not commensurate with the size of the country¡¯s economy; development needs and; crucially; vulnerability to climate shocks. Mobilizing institutional investors to provide patient local currency climate finance; is an important step to diversifying private sector financing sources to enhance capital availability as well as deepening of the domestic capital market. In May 2024; the Federal Executive Council (FEC) approved a specialized framework that would operationalize an innovative infrastructure investment vehicle to attract and consolidate institutional investor capital in the country. To be anchored by the Nigeria Sovereign Investment Authority (NSIA); the proposed vehicle will be used to provide sustainable long-term financing with robust oversight; reducing risks associated with large-scale government projects in strategic national infrastructure sectors and serve as a driver for economic advancement. ¶¹ÄÌÊÓƵAPP; in partnership with the NSIA; is therefore seeking to engage an experienced consultancy team (the ¡°Consultant¡±) to undertake an in-depth analysis of the infrastructure finance market in Nigeria; its challenges; and opportunities leading to the establishment and operationalization of a ¡°National Infrastructure Finance and Guarantee Facility¡±; including a focus on climate-smart infrastructure.

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