ICIEC strengthens support for Nigeria’s infrastructure drive, targets boost in private sector investment

Abdullateef Fowewe

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has reaffirmed its commitment to backing Nigeria’s ambitious infrastructure agenda, with a focus on enhancing private sector participation in key development projects, Dailyeconomy gathered in a statement on Monday by the Ministry of Finance.

The development was underscored during a high-level meeting between ICIEC officials and Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

Led by Director of Legal Affairs at ICIEC, Hassan Idriss, the delegation discussed strategies to deepen financial collaboration and accelerate the delivery of priority infrastructure across the country.

ICIEC underlined its readiness to provide credit and political risk guarantees designed to de-risk major infrastructure investments, thereby unlocking both domestic and international capital flows.

Welcoming the delegation, Edun highlighted the critical role of risk mitigation tools in attracting private investment to sectors such as energy, transportation, and housing.

He remarked, “We appreciate ICIEC’s continued support for initiatives that directly improve productivity and livelihoods,” the Minister stated. “By backing commercially viable, socially impactful infrastructure, ICIEC is helping Nigeria build a more inclusive economy, one where the private sector is empowered to create jobs and drive innovation.”

“The visit marks a renewed commitment to aligning financial instruments with President Tinubu’s infrastructure priorities, and signals stronger cooperation in mobilising resources that deliver real, measurable benefits to the Nigerian people,” the statement reads.