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Nigeria: AfDB approves $15 million investment package for Infrastructure Credit Guarantee Company

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The Board of the African Development Bank has approved a $15-million investment package to Infrastructure Credit Guarantee Company (InfraCredit), to support infrastructure financing through the domestic debt capital markets in Nigeria.

The investment package to InfraCredit is comprised of a subordinated loan of $10 million and a risk sharing facility of up to $5 million. This intervention will promote local currency infrastructure financing, and further development of the domestic capital market.

InfraCredit is a specialized infrastructure credit guarantee company, established to enhance local currency debt instruments – mainly bonds, to finance eligible infrastructure projects in Nigeria. This is intended to uplift the credit rating of such bonds, allowing institutional investors to include them in their portfolios.

InfraCredit was founded by the Nigerian Sovereign Investment Authority (NSIA) in collaboration with GuarantCo (part of the Private Infrastructure Development Group). These initial investors have been joined by the Africa Finance Corporation (AFC) and KfW, the German Development Bank.

The African Development Bank’s investment in InfraCredit will catalyze local institutional investor funds, including pension funds, into financing long-term infrastructure projects through the local bond markets. The investment boosts InfraCredit’s qualifying capital base through the subordinated loan; it also improves its capacity to expand its guarantee business through the proposed risk sharing arrangement.

Through this intervention, the African Development Bank is helping to stimulate local currency financing across diverse infrastructure transactions, thereby improving economic diversification and competitiveness, as well as promoting more equitable growth, strengthening local value chains and financial markets in Nigeria. InfraCredit’s operations will catalyze infrastructure investments in critical sectors such as renewable energy, housing, transportation, agricultural infrastructure, and telecommunications, which are critical for the country’s economic development. These also align with the Bank’s High 5  agenda.

Stefan Nalletamby, the Bank’s Director of the Financial Sector Development said, “The Bank’s support will strengthen the capital base of InfraCredit, underpinning the expansion of the Company’s core business of guaranteeing of bonds issued to fund infrastructure projects. This adds to the Bank’s existing initiatives to mobilize domestic institutional savings and stimulate non-sovereign local debt capital market development in Nigeria. This ultimately helps to increase private sector financing for critical infrastructure projects in key sectors including energy, agriculture, water, health and education, through local capital markets”.

The transaction will also result in the leverage and enhancement of the scope and impact of the Bank’s interventions alongside private sector financing, especially from pension funds as well as from co-investment partners. InfraCredit aims to support up to $1.25 billion in infrastructure financing over the next few years, by involving the private sector in infrastructure financing, essential to Nigeria’s economic resilience.

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Oyo: Oseni Celebrates Dotun Sanusi, Lauds Contributions to Society

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The All Progressives Congress (APC) senatorial candidate for Oyo South and Chairman of the House of Representatives Committee on the Federal Roads Maintenance Agency (FERMA), Hon. Aderemi Oseni, has congratulated Ibadan-born businessman and philanthropist, Chief Jubril Dotun Sanusi, on his 58th birthday, commending his contributions to enterprise, youth development and community advancement.

In a birthday message issued on Friday by his media aide, Idowu Ayodele, Oseni described the occasion as an opportunity to reflect on Sanusi’s entrepreneurial journey and commitment to using personal achievements to advance the common good. He wished the celebrant good health, renewed strength and greater accomplishments in the years ahead.

Oseni noted that Sanusi’s transition from petroleum engineering to business and investments across various sectors demonstrated the value of vision, perseverance and strategic thinking. He said the businessman’s career reflected how identifying opportunities beyond conventional professional boundaries could drive business success, stimulate economic growth and create opportunities for others.

The APC chieftain particularly commended Sanusi’s investments in hospitality, agriculture, education and sports, including Ilaji Hotels and Sports Resort, Ilaji Farms and the International College of Arts, Science and Technology (ICAST). He noted that such investments could stimulate economic activities, generate employment and support community development, particularly by providing young people with opportunities to acquire skills and pursue productive ventures.

According to Oseni, the significance of entrepreneurial success extends beyond the businesses established and wealth accumulated to the opportunities created and lives positively impacted. He said Sanusi’s investments and initiatives demonstrated the importance of private enterprise in supporting economic development and improving livelihoods.

“Chief Dotun Sanusi’s birthday provides an opportunity to celebrate the value of enterprise and the importance of investing in people. Businesses become more meaningful when they create jobs, support education and open doors for others to fulfil their potential. These are important contributions to society, and I wish him continued success in his endeavours,” he said.

The lawmaker also acknowledged Sanusi’s philanthropic engagements and commitment to youth development, stressing that sustainable progress required deliberate investment in education, skills acquisition and initiatives that promoted self-reliance.

He added that government alone could not meet every developmental need, making responsible private-sector participation and community-focused interventions essential to improving livelihoods.

Oseni further recognised Sanusi’s involvement in Ibadan’s traditional institution and his connection to Yoruba cultural heritage. He stressed the importance of preserving indigenous traditions and values, noting that cultural influence was more meaningful when accompanied by service, peaceful coexistence and a commitment to the welfare of the people. He also urged young Nigerians to draw inspiration from Sanusi’s journey by embracing hard work, discipline, continuous learning and patience in pursuing their ambitions.

The lawmaker prayed for God’s continued protection over Sanusi and his family, wishing him many more years of good health, wisdom and fulfilment. He expressed the hope that the businessman would continue to expand his investments, support initiatives that improve lives and contribute to the economic and social development of Ibadan, Oyo State and Nigeria.

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‘Senators Are Not Governors, Council Chairmen’ – Oseni Explains Legislative Responsibilities

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The All Progressives Congress (APC) candidate for Oyo South Senatorial District, Hon. Aderemi Oseni, has called on Nigerians to elect competent and accountable lawmakers, urging voters to understand the constitutional responsibilities of senators ahead of the 2027 general elections.

Oseni warned that misconceptions about the role of senators could undermine effective political representation, particularly when lawmakers are judged primarily by their ability to provide infrastructure, tackle poverty or distribute money to constituents rather than their performance in lawmaking, oversight and representation.

He spoke on Thursday at a political conference organised by the Christian Association of Nigeria (CAN), Ido Local Government Chapter, in Ibadan, the Oyo State capital.

The conference, themed “The Importance of Senatorial Governance and Representation in a Federal Democratic System,” brought together Christian leaders, political stakeholders, professionals, traditional rulers, youths and women to discuss the role of the Senate in Nigeria’s democratic development.

Oseni, who represents Ibarapa East/Ido Federal Constituency in the House of Representatives, identified three major challenges confronting senatorial representation: the election of unsuitable candidates, the failure of some elected senators to discharge their responsibilities effectively, and widespread misconceptions about the office.

He said these challenges underscored the need for greater public awareness of the constitutional duties of senators.
The Chairman of the House Committee on the Federal Roads Maintenance Agency (FERMA) cautioned against holding senators solely responsible for youth unemployment, poverty, inadequate infrastructure and other development challenges without considering the respective responsibilities of the federal, state and local governments.

He also faulted the expectation that senators should routinely return from Abuja with large sums of money to distribute among their constituents.

“A senator is neither the Chief Executive of a senatorial district nor a replacement for the Governor or Local Government Chairman,” Oseni said.

He explained that the primary responsibilities of senators included making laws, conducting legislative oversight, representing their constituents’ interests and advocating policies, projects and programmes capable of improving their welfare.

According to him, effective representation goes beyond occupying a seat in the National Assembly, as senators are expected to serve as a link between their constituents and the Federal Government.

He added that their responsibilities included influencing national policies, advocating development projects, facilitating access to legitimate federal programmes and ensuring that the concerns of their constituencies received adequate attention in national decision-making.

“A senator is the people’s voice at the federal level,” he said, stressing that effective representation required ensuring that constituents’ concerns were heard and considered in decisions affecting the country.

Oseni described the Senate as a critical institution in Nigeria’s federal democratic system, given its responsibilities for lawmaking, accountability and national development. He noted that the choice of a senator had implications not only for the immediate interests of a constituency but also for the country’s broader political and developmental direction.

He said the CAN conference provided an opportunity to promote informed political participation, correct misconceptions about legislative responsibilities and encourage voters in Oyo South to make informed choices ahead of the 2027 elections.

The APC chieftain urged voters to assess senatorial candidates based on their understanding of the legislative process, commitment to constituency representation, ability to scrutinise government policies and willingness to hold public institutions accountable.

He maintained that a better understanding of the Senate’s constitutional responsibilities would enable voters to set realistic expectations, demand accountability and evaluate their elected representatives more effectively.

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‎Oyo South: Sheikh Olafimihan Hails Oseni for N10m Inyass House Donation

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The APC Senatorial Candidate for Oyo South, Hon. Aderemi Oseni

‎Fadilat Sheikh Abdul Rasheed Olafimihan, the Balogun Faiydah of Yoruba Land, has commended  the All Progressives Congress (APC) candidate for Oyo South Senatorial District, Hon. Aderemi Oseni, for donating N10m towards the development of Sheikh Ibrahim Inyass House in Modinat Elekuro, Ibadan.

‎Olafimihan, who organised a programme at the religious centre on Tuesday, said the donation was appreciated by the Inyass Unity Organisation, which is affiliated with Zumuratul Faiydah Tijaniyah Ibrahimiyyah of Nigeria.

Oseni, who represents the Ido/Ibarapa East Federal Constituency and chairs the House Committee on Federal Roads Maintenance Agency (FERMA), attended the event, where he made the donation towards the development of the facility.

In a letter of appreciation dated October 13, 2026, the organisation thanked the lawmaker for his presence and financial support.

The letter partly read, “On behalf of the Inyass Unity Organization affiliated with Zumuratul Faiydah Tijaniyah Ibrahimiyyah of Nigeria, we sincerely appreciate your presence and generous donation at the event held at Sheikh Ibrahim Inyass House, Modinat Elekuro, Ibadan, on October 13, 2026.”

The organisation specifically acknowledged the N10m contribution, stating that the money was donated towards the development of the religious centre.

“We are deeply grateful for your donation of N10,000,000.00 (Ten Million Naira Only) towards the development of Sheikh Ibrahim Inyass House,” the letter added.

‎Olafimihan also offered prayers for the lawmaker, asking Allah to reward him for his contribution and grant him success in his public service.

‎“May Almighty Allah (SWT) reward you abundantly and grant you success in your service to humanity,” the letter stated.

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