Africa Plus Partners Nigeria Limited (APPNL), a SEC-licensed infrastructure fund management company, has received dual rating upgrades from two leading rating agencies, Agusto & Co. and DataPro Limited.
This was disclosed in a statement by APPNL management on Friday.
APPNL manages over ₦230 billion in assets and serves as the manager of the Africa Infra Plus Fund (AIPF I & II). It has also been appointed co-manager of the Federal Government’s ₦15 trillion Infrastructure Fund (InfraCorp) through the AAA Consortium.
According to the statement, Agusto & Co. upgraded APPNL’s investment manager rating to A, recognising the company’s strengthened governance framework, enhanced risk management, and expanded operational capacity.
“The agency commended APPNL for introducing distinct control and audit functions, appointing an independent director to chair the board, and building internal capacity to manage its rapidly growing assets under management,” the statement added.
“Agusto & Co. also highlighted the company’s experienced decision-making committees, well-documented investment and risk management policies, and a rigorous deal-screening process supported by a reputable third party.”
Meanwhile, DataPro Limited upgraded Africa Plus Partners’ credit rating to a prestigious A+, affirming the company’s “Very Good Financial Strength, Operating Performance, and Business Profile,” according to the statement.
DataPro said this rating reflects Low Risk and underscores APPNL’s strong ability to meet its ongoing obligations with confidence and consistency.
APPNL described the dual upgrades as a vote of confidence in its vision, resilience, and leadership in Nigeria’s capital markets.
It added that the ratings are expected to strengthen the company’s position with institutional investors, improve access to capital, and reduce financing costs for critical infrastructure projects.
“This recognition by Agusto & Co. and DataPro is a powerful validation of the work we are doing at Africa Plus Partners,” said Mr. Adeniran Ajakaiye, Managing Director, Africa Plus Partners.
“But beyond the ratings, it is a message to our investors, partners, and stakeholders that our governance, discipline, and growth trajectory are firmly aligned with global best practices. We remain committed to deepening our impact, expanding opportunities, and delivering sustainable returns that transform lives and communities.”
