Coronation Infrastructure Fund (CIF) has been listed on the Main Board of the Nigerian Exchange Limited (NGX), debuting at ₦100 ($0.07) per unit with 87.9 million outstanding units on Monday, giving it a market value of ₦8.79 billion ($5.72 million).
Designed as a closed-end fund for long-term investors, CIF targets debt investments in businesses across Nigeria and Sub-Saharan Africa, focusing on transport, energy, and housing — critical sectors for economic growth.
The Fund trades under the ticker symbol CNIF in the Industrial Goods sector. Market data from Kwayisi.org, a global trading platform, shows its current market capitalisation ranks among the smallest in the sector — below Smart Products Nigeria valued at ₦32.4 billion ($21.1 million) and far behind the sector’s largest player, Lafarge Africa, worth ₦2.16 trillion ($1.4 billion).
Aigovbioise Imoukhuede, CEO of Coronation Asset Management, described CIF as a transformational product, saying, “At Coronation, our belief is simple — great products can shape economies. The Coronation Infrastructure Fund is one such product: rooted in deep market insights, backed by strong governance, and built to generate wealth sustainably.”
CIF is managed by Coronation Asset Management, a subsidiary of Coronation Group, which holds an A- rating from both Agusto & Co. and GCR for its strong debt-servicing capacity.
Reinforcing the fund’s ambition, Mayowa Ikotun, Head of CIF, said CIF’s listing marks a turning point. “It’s the moment infrastructure investing becomes democratised through our product offering. This is what we do at Coronation: we turn vision into investable outcomes.”
He added that Coronation is “reshaping what wealth creation means in Africa” by bringing infrastructure closer to investors through product innovation.
With preparations underway for its Series II issuance, Coronation says the NGX listing will broaden investor participation, deepen market access, and attract cross-border capital flows into Nigeria’s infrastructure sector.
Note: Figures were originally reported in naira and converted using the average official exchange rates of ₦1,537/$1 for August 25, 2025, and ₦1,478.9/$1 for 2024.
