SEC Highlights Missed Opportunities in Nigeria’s Investment Pipeline

Data released by the Securities and Exchange Commission (SEC) show that ₦120.88 billion of capital committed to registered private equity and infrastructure funds remained undeployed as of the fourth quarter of 2024. This represents roughly 29.5% of the total ₦409.06 billion committed capital across both sectors.

Within the infrastructure fund space, ₦305.97 billion was committed, and ₦248.27 billion had been drawn down—leaving ₦57.7 billion unutilized. That idle balance constitutes a substantial portion of undeployed capital, suggesting delays or bottlenecks in project execution.

In private equity, ₦103.09 billion was committed, but only ₦39.91 billion was deployed, resulting in ₦63.17 billion remaining idle. Several named private equity funds still hold significant undrawn reserves.

Market observers interpret the undeployed amounts as indicative of structural challenges in converting committed capital into live investments. Delays may stem from regulatory hurdles, project readiness issues, or mismatches between fund mandates and viable opportunities.

The data underscores a persistent gap between investor confidence (in committing capital) and the actual pace of project delivery across infrastructure and alternative investment spheres in Nigeria.