Olufemi Adeyemi 


AVA Capital Group has officially launched a N200 billion infrastructure fund on the Nigerian Exchange, aimed at tackling the country's infrastructure challenges.

This announcement was made by Efe Shaire, Managing Director of AVA Global Asset Managers Limited, during the closing gong ceremony held in Lagos on Thursday.

Shaire characterized the listing as a significant milestone that underscores the company's dedication to enhancing Nigeria's infrastructure.

He stated, "The AVA Infrastructure Fund exemplifies our confidence in the potential of Nigeria's infrastructure development and the role that long-term private sector investment can play in fostering productivity and sustainable economic growth."

He further noted that the N200 billion initiative is intended to address the nation's infrastructure deficit, which is estimated to be around $100 billion.

Shaire emphasized that the fund is set to be crucial in revitalizing essential sectors, thereby unlocking substantial economic opportunities and enhancing the living standards of millions of Nigerians.

"We believe that the N200 billion AVA Infrastructure Fund, once fully capitalized and utilized, will be key in reshaping Nigeria's infrastructure landscape," he concluded.

Jude Chiemeka, the Chief Executive Officer of the Nigeria Exchange Group, commended the initiative, stating, “This is a N200bn fund comprising 4,075 units priced at 1 million each. Our participants are developing products that will benefit the nation.”

He underscored the significance of such investments in fostering economic growth and improving infrastructure throughout Nigeria.

Additionally, Femi Shobanjo, the Chief Executive Officer of NGX Regulation Limited, stressed the vital role of the infrastructure fund in the Nigerian economy, encouraging fund managers to explore opportunities in the environmental, social, and governance sectors.

He remarked, “The regulatory environment is equitable, and safeguarding investments is essential.”

Sam Ndata, the Senior Doyen of the exchange, highlighted the fund’s capacity to stimulate economic growth and enhance connectivity nationwide.

He stated, “Our vision for the AVA Infrastructure Fund is explicit: to stimulate growth by addressing the urgent infrastructure requirements that will propel economic development, improve connectivity, and elevate the quality of life for millions of Nigerians.”

He further noted that the listing of the AVA Infrastructure Fund on the NGX marks a significant milestone in Nigeria’s infrastructure development journey.

“Let today’s closing gong ceremony serve as a symbol of hope and a reminder of our collective power to shape the future of our nation,” Ndata concluded.