Nigeria’s sovereign wealth fund, the Nigeria Sovereign Investment Authority (NSIA), has announced that NSIA through its Gas to Power funds managed on behalf of Nigeria’s Debt Management Office is planing to invest at least $100m in aggregate principal amount of senior secured notes due in 2023 to be issued and privately placed by Seven Energy Finance Ltd.

Uche Orji, Managing Director & CEO of the NSIA, said that through this investment, and future projects, NSIA is contributing to the transformation of the gas and power sectors.

“We expect that this investment will support the development of Calabar NIPP, Ibom Power, and other power stations. This is a further example of Nigeria’s successful public-private investment in infrastructure,” he said.

Seven Energy International is an independent Nigerian integrated oil and gas development, production and gas distribution company founded in 2004.

With the backing of strategic long-term investors and main offices in Lagos and London, the Group has a unique focus on the emerging Nigerian domestic gas market.

Phillip Ihenacho, CEO of Seven Energy, said: “This investment is a vote of confidence in Seven Energy’s vision to be a leading supplier of gas in Nigeria. I am very pleased that we have gained the  support of NSIA.”