Nigeria’s capital market just got a major boost as a new high-yield infrastructure bond hits the Nigerian Exchange.
The Nigerian Exchange (NGX) has listed a N4.64 billion bond by Elektron Finance SPV Plc — the first tranche under its N200 billion bond programme. The 15-year, 22% fixed-rate bond, maturing in July 2040, offers one of the highest long-term yields on the market.
Backed by InfraCredit and co-obligated by Victoria Island Power Ltd, the bond is considered a low-risk, high-return investment. Investors will receive coupon payments twice a year — every January 7 and July 7 — starting July 2025.
The issue drew strong institutional participation, signaling rising confidence in Nigeria’s infrastructure-backed debt market. Vetiva Advisory led the issuance, with several top financial firms as co-arrangers.
Market experts say the deal highlights the growing role of long-tenor corporate bonds in financing Nigeria’s infrastructure, offering pension funds and insurers a stable, inflation-beating investment option.
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