Marine Ministry Weighs Syndicated Financing For Major Infrastructure Projects
By Stella Enenche, Abuja
The Ministry of Marine and Blue Economy is considering syndicated financing and other innovative funding models to bridge Nigeria’s marine infrastructure gap.
Permanent Secretary of the Ministry, Mrs. Fatima Tabi’a Mahmood disclosed this on Thursday in Abuja while receiving a delegation from the Coronation Group.
According to her, the Ministry was committed to attracting sustainable investments to drive the growth of the marine and blue economy.
She said the Ministry would subject the proposals presented by Coronation Group to a detailed assessment to determine how they align with its development priorities.
According to her, “The Ministry will carefully evaluate the range of financial products and services presented to determine areas of alignment with its strategic priorities, policy objectives and operational needs.”
Mahmood said she had directed the relevant department to carry out a comprehensive review of the proposals, “including the possibility of syndicated financing for major infrastructure projects.”
She stressed that the Ministry’s ambitious development agenda would require significant private sector participation, noting that long-term financing remains indispensable to delivering critical infrastructure.
“The successful implementation of the Ministry’s programmes and projects requires sustained investment and long-term financing,” she said, adding that partnerships with credible financial institutions were essential to mobilising the required capital.
The Permanent Secretary also disclosed that investment opportunities for Ministry personnel, including share acquisition and investment schemes, would be examined in line with existing regulations.
She commended Coronation Group for its longstanding partnership with the Ministry, particularly its support for capacity building within the civil service and digital transformation initiatives.
Earlier, Coronation Group Director, Mr. David Aluko, said the company was equipped to support government infrastructure projects through a wide range of regulated financial solutions.
He revealed that the Group had established a ₦20 billion Infrastructure Development Fund to finance strategic infrastructure while creating sustainable investment opportunities.
Aluko said, “The Group is well-positioned to mobilise long-term capital for infrastructure development,” adding that the company could structure infrastructure financing, aggregate investment funds and facilitate bond issuances and syndicated loans.
He also noted that all the firm’s financing instruments operate under the regulatory oversight of the Securities and Exchange Commission (SEC), ensuring transparency and investor confidence.
