Nigeria’s InfraCredit plans to more than triple its naira guarantees over the next four years, targeting $703 million in new commitments. The state-backed guarantor is betting on looser leverage rules and easing borrowing costs to unlock long-term funding for critical infrastructure projects across the West African nation.

This move addresses Nigeria’s persistent funding gap for roads, power, and ports. By providing credit enhancement, InfraCredit aims to attract local pension funds and insurers, which traditionally avoid long-tenor project debt due to regulatory constraints. The strategy could lower borrowing costs for developers and accelerate project pipelines.

Investors will watch for the first major deals under the new leverage framework. Success hinges on sustained policy support and stable macroeconomic conditions. If executed, the plan could set a precedent for other African nations seeking to mobilize domestic capital for infrastructure development.