FG Explores Private Financing To Accelerate Port, Maritime Infrastructure

The Federal Government is exploring syndicated financing and other private-sector funding options to accelerate the development of critical port and maritime infrastructure, as part of efforts to unlock the economic potential of Nigeria’s marine and blue economy.

The initiative was discussed during a meeting in Abuja between the Permanent Secretary of the Federal Ministry of Marine and Blue Economy, Mrs. Fatima Sugra Tabi’a Mahmood, and a delegation from Coronation Group.

Mahmood said the ministry was committed to attracting long-term investments and innovative financing mechanisms to drive infrastructure development beyond traditional government budgetary allocations. She noted that strategic partnerships with credible financial institutions would play a key role in delivering the ministry’s programmes.

According to her, the ministry will conduct a detailed assessment of the financial solutions presented by Coronation Group to determine their alignment with its policy objectives and development priorities.

She also directed relevant departments within the ministry to review proposals for possible collaboration, including syndicated financing arrangements for major maritime infrastructure projects aimed at expanding the country’s marine economy.

Mahmood added that investment opportunities for ministry staff, such as investment and share acquisition schemes, would also be evaluated in line with existing regulations and institutional guidelines.

She commended Coronation Group for its longstanding partnership with the ministry, particularly its contributions to civil service capacity building and digital transformation initiatives.

Speaking during the meeting, Director of Coronation Group, David Aluko, outlined the company’s capabilities in merchant banking, securities, insurance, asset management, financial advisory services, bond issuance, syndicated lending and infrastructure finance.

Aluko disclosed that the company had established a ₦20 billion Infrastructure Development Fund to finance critical infrastructure projects while creating sustainable investment opportunities for both institutional and private investors.

He said the firm is well-positioned to mobilise long-term capital, structure innovative financing solutions and support government development projects through regulated financial instruments under the oversight of the Securities and Exchange Commission (SEC).

The engagement forms part of the ministry’s broader strategy to deepen private-sector participation, attract sustainable investments and deploy innovative financing models to enhance the growth and global competitiveness of Nigeria’s marine and blue economy.