… to transform Ekiti’s road network
Craneburg EKSG Motorway Company Plc in collaboration with InfraCredit, has officially signed the final documents for its N32.5 billion 20-year 22 percent fixed rate senior guaranteed infrastructure bond issuance.
The high-profile signing ceremony, which was held in Lagos, brought together key stakeholders from the private sectors, including representatives from Guarantor, the issuing houses, legal advisers, and capital market operators, to mark the formal close of the strategic infrastructure bond transactions.
Anchoria Advisory Services Limited served as Lead Issuing House and Bookrunner, supported by Coronation Merchant Bank, Greenwich Merchant Bank, and Iron Global Markets Limited as Joint Issuing Houses.
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According to the partners, the proceeds from this successful issuance will be used to finance the Phase 1 construction of a 17.84km dual carriageway toll road in Ekiti State.
The project forms part of a broader 68km road network designed to unlock intrastate mobility, enhance logistics, and attract private capital into sub-national infrastructure delivery.
“We are honoured by the trust placed in us by the Ekiti State Government to deliver this transformative project under the innovative Annuity PPP Product. The Product framework has been instrumental in mobilising long-term domestic capital that enables us to sustainably finance and execute this much-needed infrastructure project.
“As a company recognised for quality and timely delivery, we are committed to ensuring that this project sets a new benchmark for infrastructure development at the sub-national level ” said Femi Edun, Chairman of Craneburg Construction Company.
Dan Chidoka, managing director of the lead issuing house, Anchoria Advisory Services Limited said the transaction is a testament to what is possible when innovation, strong governance, and private sector capital come together in service of national development.
“We are proud to have led the structuring and execution of this landmark bond issuance, the first of its kind in Nigeria’s debt capital market and proud of what it represents, a scalable blueprint for funding an infrastructure project through the capital markets,” Chidoka said.
This transaction according to the partners sets a replicable precedent for infrastructure financing across Nigeria, paving the way for future PPP-backed issuances where the private sector leads execution, risk sharing is institutionalised, and development is market-driven.
