3 months ago
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AVA Capital Group has listed a N200bn infrastructure fund on the Nigerian Exchange, as part of its mission to address Nigeria’s infrastructure deficit.
This was disclosed by the Managing Director of AVA Global Asset Managers Limited, Efe Shaire, at the closing gong ceremony by AVA global asset managers in Lagos on Thursday.
Shaire described the listing as a monumental occasion that reflected the company’s commitment to Nigeria’s infrastructure development.
“The AVA Infrastructure Fund is a testament to our belief in the promise of Nigeria’s infrastructure development and the impact long-term private sector capital can have in driving productivity gains and sustainable economic growth,” he remarked.
He added that the N200bn programme was designed to bridge the country’s infrastructure gap, estimated at around $100bn.
He stressed that the fund would play a pivotal role in transforming key sectors, thereby unlocking significant economic potential and improving the quality of life for millions of Nigerians.
“We are confident that the N200bn AVA Infrastructure Fund, once fully raised and deployed, will be instrumental in transforming Nigeria’s infrastructure landscape,” he added.
The Chief Executive Officer of the Nigeria Exchange Group, Jude Chiemeka, praised the initiative, stating, “It is a N200bn fund with 4,075 units at 1 million per unit. Our participants are creating products that can benefit the country.”
He emphasised that such investments were crucial for driving economic growth and enhancing infrastructure across Nigeria.
Also, the Chief Executive Officer of NGX Regulation Limited, Femi Shobanjo, highlighted the importance of the infrastructure fund to the Nigerian economy, urging fund managers to consider investments in the environmental, social, and governance sectors.
He noted, “The regulation business is fair, and investment protection is key.”
In his remarks, the Senior Doyen of the exchange, Sam Ndata, emphasised the fund’s potential to catalyse economic growth and enhance connectivity across the country.
He declared, “Our vision with the AVA Infrastructure Fund is clear: to catalyse growth by addressing the critical infrastructure needs that will drive economic expansion, enhance connectivity, and improve the quality of life for millions of Nigerians.”
He added that the AVA Infrastructure Fund’s listing on the NGX was seen as a critical milestone in Nigeria’s journey toward infrastructure development.
“Let today’s closing gong ceremony be a beacon of hope and a reminder of the power we hold to shape our nation’s future,” Ndata concluded.
