Lagos-based First Asset Management, a subsidiary of First HoldCo Plc, has unveiled a N100 billion naira infrastructure fund targeted at long-term investment in sustainable development.
The new fund is poised to close critical gaps in infrastructure financing by channeling private capital into eco-friendly, socially impactful projects across the country. The launch marks a strategic shift in Nigeria’s capital markets, with the fund offering targeted support for sectors central to inclusive economic growth, such as renewable energy, clean power, waste recycling, water management, and environmental rehabilitation. It reflects a growing recognition within financial institutions of the need to integrate climate resilience and environmental sustainability into national development planning.
The debut Series 1 Offer of the fund opens with a N20 billion tranche, structured over a 10-year tenor. Designed for institutional-grade investment, the offer sets a minimum entry threshold of N10 million and is geared towards pension fund administrators, development finance institutions, insurance firms, and high-net-worth individuals with a long-term view. Managing Director of First Asset Management, Ike Onyia, described the fund as a vehicle for not just returns but national impact. “This is not simply a financial product. It is a commitment to building the Nigeria of tomorrow—one powered by green infrastructure, strengthened by private-public collaboration, and aligned with global ESG values,” Onyia said.
Structured in naira and designed to generate steady, long-term income streams, the infrastructure fund aligns closely with Nigeria’s development ambitions under frameworks such as the National Integrated Infrastructure Master Plan and Energy Transition Plan. The fund is expected to play a catalytic role by de-risking projects and crowding in further private capital to projects that historically struggle to secure commercial financing. Experts suggest that this launch comes at a critical time when Nigeria faces a significant infrastructure deficit estimated at over $100 billion. From power shortages and inefficient waste systems to water scarcity in underserved areas, the nation’s infrastructure needs have compounded over decades of underinvestment. First Asset Management’s approach aims to match profitability with purpose, offering a model of sustainable finance that delivers social dividends alongside financial gains.
The fund’s rollout also signals growing investor appetite for environmental, social, and governance (ESG) aligned assets. Amid global calls for sustainable finance, Nigeria’s capital markets appear to be gradually tilting towards impact-driven strategies. As such, the fund is also an important signal to domestic and international investors seeking long-term stability and social relevance in emerging markets. Backed by First Asset Management’s reported milestone of surpassing N1 trillion in Assets Under Management, the fund demonstrates strong institutional capability and investor confidence. It reinforces the firm’s broader ambition to shape future-ready financial solutions that empower communities, reduce environmental degradation, and build a more resilient national economy.
If successful, the infrastructure fund could set a new standard for capital mobilisation in Nigeria’s development finance space—bridging the financial, environmental, and human development divide. As other asset managers watch closely, this model may well trigger a ripple effect across the country’s financial system and regulatory framework.
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