In a landmark development for Nigeria’s financial markets, Coronation Group has successfully listed its Coronation Infrastructure Fund (CIF) on the Main Board of the Nigerian Exchange (NGX), marking a significant milestone in the country’s alternative investment landscape. The listing, announced on August 25, 2025, follows the fund’s initial debut in 2024 and represents a bold step toward addressing Nigeria’s chronic infrastructure deficit through innovative financial solutions. With 87.9 million units listed at N100 each, the total value of the CIF listing stands at N8.79 billion, positioning it as a highly liquid and accessible investment vehicle designed to attract a broad spectrum of investors.
The listing of CIF underscores Coronation Group’s commitment to fostering economic growth by channeling long-term capital into critical infrastructure sectors. Managed by Coronation Asset Management Ltd, the group’s asset management subsidiary, the fund is poised to play a pivotal role in transforming Nigeria’s investment ecosystem. By offering a professionally managed platform for infrastructure-led growth, CIF aims to democratize access to high-impact investment opportunities, enabling both institutional and retail investors to participate in Nigeria’s economic development.
A Strategic Milestone for Nigeria’s Investment Landscape
The announcement of CIF’s listing was accompanied by a statement from Coronation Group, which highlighted the fund’s significance as a catalyst for economic transformation. The company emphasized that the fund’s structure as a highly liquid investment vehicle is designed to encourage broad market participation, making it an attractive option for investors seeking long-term exposure to Nigeria’s infrastructure sector. “For those seeking long-term exposure to infrastructure-led growth, CIF offers a compelling and professionally managed platform,” the statement read, underscoring the fund’s role in bridging the gap between capital markets and Nigeria’s pressing infrastructure needs.
The listing of 87.9 million units on the NGX Main Board is a testament to Coronation Group’s strategic vision and its ability to execute complex financial initiatives. The N8.79 billion valuation reflects the success of CIF’s Series 1 Offer, which raised the same amount in 2024, laying a solid foundation for the fund’s entry into the public market. This achievement highlights the growing appetite for alternative investments in Nigeria, particularly in sectors like infrastructure, which are critical to the country’s long-term development.
The Coronation Infrastructure Fund is managed by Coronation Asset Management Ltd, a subsidiary known for its expertise in delivering innovative investment products. The listing has been described as a “landmark moment” for Nigeria’s evolving investment landscape, signaling a shift toward more inclusive and impactful financial solutions. By listing CIF on the NGX, Coronation Group is not only expanding its own portfolio but also setting a precedent for other financial institutions to explore infrastructure-focused investment vehicles.
Leadership Perspectives on CIF’s Impact
The Chief Executive Officer of Coronation Asset Management, Aigbovbioise Aig-Imoukhuede, provided insight into the strategic importance of the CIF listing during a press briefing following the announcement. Aig-Imoukhuede emphasized that the initiative reflects Coronation’s core philosophy of using financial innovation to drive economic transformation. “At Coronation, our philosophy is straightforward: great products can transform economies,” he said. “The Coronation Infrastructure Fund embodies this principle, built on deep market knowledge, strong governance, and a commitment to delivering sustainable wealth.”
Aig-Imoukhuede elaborated on the fund’s purpose, noting that it is designed to channel long-term capital into key infrastructure sectors such as transportation, energy, water, and telecommunications. These sectors are critical to addressing Nigeria’s longstanding infrastructure deficit, which has been a major barrier to economic growth and development. According to estimates, Nigeria requires investments of over $100 billion annually to close its infrastructure gap, a challenge that has persisted due to limited public funding and inefficiencies in project execution. By mobilizing private capital through CIF, Coronation aims to play a transformative role in bridging this gap and unlocking Nigeria’s economic potential.
The CEO also highlighted the importance of strong governance and transparency in ensuring the fund’s success. Coronation Asset Management has implemented rigorous oversight mechanisms to ensure that investments are allocated efficiently and deliver measurable impact. “Our commitment to sustainable wealth creation is at the heart of everything we do,” Aig-Imoukhuede said. “CIF is not just about financial returns; it’s about creating value for communities, businesses, and the nation as a whole.”
Mayowa Ikotun, Head of the Coronation Infrastructure Fund, echoed Aig-Imoukhuede’s sentiments, describing the listing as a “pivotal moment” for Nigeria’s investment ecosystem. “CIF’s listing marks a turning point,” Ikotun said. “It is the moment infrastructure investing becomes accessible to a wider pool of investors through our platform. This is the essence of what we do at Coronation: turning vision into investable outcomes.” Ikotun emphasized that the fund’s structure allows both institutional and retail investors to participate in infrastructure projects that were previously out of reach for many, thereby democratizing access to high-impact investment opportunities.
Addressing Nigeria’s Infrastructure Deficit
The launch of CIF comes at a critical juncture for Nigeria, where inadequate infrastructure has long hindered economic growth and development. The country’s roads, railways, power supply, and water systems are in dire need of modernization and expansion to support its rapidly growing population and economy. According to the African Development Bank, Nigeria’s infrastructure deficit requires annual investments of approximately $100 billion over the next 30 years to achieve sustainable development goals. However, public funding alone is insufficient to meet this demand, making private-sector participation essential.
CIF is strategically positioned to address this challenge by mobilizing capital from a diverse pool of investors and directing it toward high-impact infrastructure projects. The fund’s focus on sectors such as energy, transportation, and water aligns with Nigeria’s national development priorities, including the government’s Economic Recovery and Growth Plan (ERGP) and the Sustainable Development Goals (SDGs). By investing in projects that improve connectivity, enhance energy access, and provide clean water, CIF aims to deliver both financial returns and tangible social benefits.
The fund’s listing on the NGX Main Board enhances its visibility and accessibility, making it easier for investors to participate in Nigeria’s infrastructure growth story. The N100 per unit price point ensures that CIF is within reach for a wide range of investors, from high-net-worth individuals to retail investors looking to diversify their portfolios. This inclusivity is a key feature of the fund, reflecting Coronation’s commitment to broadening access to investment opportunities.
The Significance of the NGX Listing
The listing of CIF on the Nigerian Exchange is a significant achievement for both Coronation Group and the broader financial market. The NGX, one of Africa’s leading stock exchanges, provides a robust platform for trading and investment, ensuring liquidity and transparency for listed securities. By listing CIF on the Main Board, Coronation has opened the door for greater market participation, allowing investors to buy and sell units of the fund with ease.
The N8.79 billion valuation of the listing is a testament to the success of CIF’s Series 1 Offer, which raised the same amount in 2024. This initial offering demonstrated strong investor confidence in Coronation’s ability to deliver value through infrastructure investments. The transition to the NGX Main Board builds on this success, providing a scalable platform for future growth and expansion of the fund.
The listing also reflects the growing maturity of Nigeria’s alternative investment market. Historically, Nigeria’s capital markets have been dominated by equities and fixed-income securities, with limited options for investors seeking exposure to alternative assets like infrastructure. The introduction of CIF signals a shift toward more diversified investment opportunities, aligning Nigeria’s financial markets with global trends. Infrastructure funds, which offer stable, long-term returns, are increasingly popular in developed markets, and CIF’s listing positions Nigeria as a leader in this space within Africa.
Coronation’s Broader Vision
The launch of CIF is part of Coronation Group’s broader mission to drive financial innovation and economic development in Nigeria. Founded with a vision to empower communities and businesses through financial solutions, Coronation has established itself as a leader in Nigeria’s financial services sector. The group’s subsidiaries, including Coronation Asset Management, Coronation Insurance, and Coronation Merchant Bank, have a track record of delivering innovative products and services that meet the needs of diverse clients.
The establishment of CIF reflects Coronation’s strategic focus on addressing Nigeria’s most pressing economic challenges. By prioritizing infrastructure, the group is tackling a critical barrier to growth while creating opportunities for investors to participate in the country’s development. The fund’s emphasis on sustainability and governance further enhances its appeal, ensuring that investments deliver long-term value for all stakeholders.
Coronation’s leadership has also emphasized the importance of collaboration in achieving the fund’s objectives. By working with government agencies, private-sector partners, and international investors, CIF aims to leverage collective expertise and resources to maximize its impact. This collaborative approach is critical in a country like Nigeria, where infrastructure projects often require significant coordination across multiple stakeholders.
Implications for Investors and the Economy
For investors, CIF offers a unique opportunity to gain exposure to Nigeria’s infrastructure sector, which is poised for significant growth in the coming decades. The fund’s focus on long-term, stable returns makes it an attractive option for pension funds, insurance companies, and other institutional investors seeking to diversify their portfolios. Retail investors, meanwhile, can benefit from the fund’s accessibility and liquidity, allowing them to participate in high-impact projects without the need for large capital outlays.
The economic implications of CIF’s listing are equally significant. By channeling capital into infrastructure, the fund has the potential to create jobs, improve connectivity, and enhance access to essential services like power and water. These improvements can drive productivity, attract foreign investment, and stimulate economic growth across multiple sectors. For example, investments in transportation infrastructure can reduce logistics costs, while energy projects can address Nigeria’s chronic power shortages, benefiting businesses and households alike.
Moreover, CIF’s focus on sustainable wealth creation aligns with global trends toward responsible investing. By prioritizing projects with strong environmental, social, and governance (ESG) credentials, the fund can contribute to Nigeria’s transition to a more sustainable economy. This approach is likely to resonate with international investors, who are increasingly prioritizing ESG factors in their investment decisions.
Looking Ahead: A Catalyst for Change
The listing of the Coronation Infrastructure Fund on the Nigerian Exchange marks a turning point for Nigeria’s financial markets and its infrastructure sector. As the country grapples with the challenges of rapid urbanization, population growth, and economic diversification, initiatives like CIF are critical to unlocking its potential. By providing a platform for investors to contribute to infrastructure development, Coronation is helping to bridge the gap between capital markets and real-world impact.
Looking ahead, Coronation Group plans to build on the success of CIF by exploring additional opportunities to expand the fund and introduce new investment products. The group’s leadership has expressed confidence in Nigeria’s long-term growth prospects, citing the country’s youthful population, abundant natural resources, and strategic location as key drivers of future development. By continuing to innovate and collaborate, Coronation aims to remain at the forefront of Nigeria’s financial services industry.
The success of CIF also has the potential to inspire other financial institutions to launch similar infrastructure-focused funds, further diversifying Nigeria’s investment landscape. As more players enter the market, the increased availability of capital could accelerate the pace of infrastructure development, benefiting communities across the country.
Conclusion
The listing of the Coronation Infrastructure Fund on the Nigerian Exchange is a transformative milestone for Nigeria’s financial and economic landscape. With a valuation of N8.79 billion and a focus on long-term, sustainable investments, CIF represents a bold step toward addressing Nigeria’s infrastructure deficit while creating value for investors. Managed by Coronation Asset Management, the fund embodies the group’s commitment to financial innovation, strong governance, and economic transformation.
As Nigeria navigates the challenges of the 21st century, initiatives like CIF will play a critical role in unlocking the country’s potential. By channeling capital into infrastructure, Coronation is not only delivering financial returns but also contributing to the development of a more connected, prosperous, and sustainable Nigeria. The listing of CIF on the NGX Main Board is a testament to the power of vision, collaboration, and innovation in transforming economies and creating lasting impact. As the fund begins its journey on the public market, it stands as a beacon of hope for investors, communities, and the nation as a whole.
