The InfraConnect 2.0 Presentation Session featured four DFIP project teams pitching bold infrastructure ideas—from power to transport, agri-infrastructure, and smart cities. Guided by expert jury feedback, participants demonstrated real-world readiness, showcasing the power of early-stage project preparation and local developer capacity. The session reflected a growing movement to turn African ideas into investable infrastructure realities.

KEY DISCUSSION SUMMARY

The InfraPitch session at InfraConnect 2.0 stood out as a masterclass in early-stage infrastructure development. Hosted by The African Catalyst as a capstone showcase for its Developing and Financing Infrastructure Program (DFIP), this session was not just a pitch competition — it was a simulation of what real-world capital raising looks like for infrastructure entrepreneurs in Africa. The event offered a rare glimpse into how infrastructure concepts are crafted, refined, and challenged under the scrutiny of investment professionals. More importantly, it revealed the evolving expectations of investors in an era where feasibility must be backed by both financial rigour and contextual awareness.

 

At the heart of this experience was an elite jury: Cecilia Akintomide, Chairperson of the Sanitation and Hygiene Fund and former Vice President of the African Development Bank; Bode Ojeniyi, Managing Director and CEO of Sky Capital; Jobalo Oshikanlu, Deputy CEO of ARM-Harith Infrastructure Investment Ltd; and Femi Awofala, Lead Partner at Brickstone Africa and Founder of The African Catalyst, who also acted as both convener and internal critic.

 

These jurors did more than assess—they interrogated, mentored, and challenged the DFIP participants, probing the logic, viability, and strategy behind each infrastructure concept.

 

Group A: From 500MW to 55MW — Rethinking Scale in Power Development

Group A took the floor with a concept for a 55MW Independent Power Project (IPP) located in Anambra State, Nigeria. The team carefully explained that the project was originally conceptualised at 500MW, but after financial modelling and local demand validation, they made the decision to downscale. The facility would serve both industrial and residential off-takers in a region notorious for grid unreliability.

The jury responded positively to this adjustment. Jobalo Oshikanlu, in particular, praised the decision to “right-size” the project, noting that early-stage developers often fall into the trap of overambition. “Scaling down shows you understand the local finance market. Nobody in this environment is writing $1 billion checks for early-stage power,” he said, affirming the importance of realism over grandeur.

But the congratulations ended there. Bode Ojeniyi homed in on the proposed use of corporate guarantees to backstop revenues. “Once I hear ‘corporate guarantee,’ I’m already out,” he declared. “No serious infrastructure financier wants to underwrite risk based on company-level assurances that may disappear with market shocks.” He advised that the team explore credit enhancement mechanisms aligned with project finance principles, such as escrow-backed PPAs or partial risk guarantees.

Cecilia Akintomide raised a different but equally crucial point. She questioned the robustness of the team’s off-taker analysis, particularly around the assumption that major manufacturers like Innoson Motors would readily sign long-term power purchase agreements. “Have you spoken to them?” she asked sharply. “Do they have balance sheets that can sustain multi-year commitments?” Her questions highlighted the critical investor need for demand-side validation.

Femi Awofala added a reflective note. He applauded the effort but warned that the revenue forecasts felt overly optimistic. “Naira revenues backing dollar debt must be carefully hedged,” he said. “Otherwise, the project won’t survive its first currency devaluation.”

 

Group B: Ambition on Asphalt – Reimagining the Lagos-Calabar Coastal Highway

Group B delivered perhaps the most ambitious concept of the day—a 700-kilometre coastal highway connecting Lagos and Calabar, with a projected capex of over $4.5 billion. The presenters described the project as a pan-African trade enabler under the AfCFTA framework, highlighting its potential to revolutionise logistics along Nigeria’s southern corridor.

However, their presentation immediately raised questions. Jobalo Oshikanlu opened the critique with a calm but pointed observation: “This is not a pitch—it’s a national strategy document,” he said. “If you’re asking for $3 million in pre-development capital, be clear. But don’t confuse that with $91 million in seed equity. That distinction matters.”

Bode Ojeniyi echoed the concern, emphasising the need for discipline in capital structuring. “You cannot blur feasibility funding with equity asks. Investors don’t respond to confused capital stacks. You need to separate what’s for traffic validation and what’s for construction-ready capital.” He also pushed for more details on how the project would be monetised. “Where’s your traffic study? What’s the tolling plan? Without a revenue model, this is a PowerPoint dream.”

Cecilia Akintomide shifted the focus to the public-private partnership (PPP) structure, asking whether a framework agreement with the federal government had been initiated. “You’re proposing something that spans seven states and dozens of communities. Do you have buy-in from even one?” Her questions pointed to the need for political risk mitigation at the earliest stages.

Despite these critiques, the jury acknowledged the transformative potential of the project. As Femi Awofala remarked, “This kind of vision excites investors—but only when the groundwork has been done. Don't raise for $4 billion until you've spent $400,000 proving people will drive the road.”

Group C: Fertiliser Infrastructure for Agricultural Sovereignty

Group C’s presentation was a notable departure from energy and transport. Their focus was on a fertiliser production and distribution infrastructure, designed to integrate upstream production with downstream agricultural supply chains across Nigeria.

The group stood out for their comprehensive bankability analysis. Their revenue model relied on offtake agreements with government agencies and farmer cooperatives, while their risk matrix addressed FX exposure, supply logistics, and seasonal demand cycles. Their approach was deeply informed by the Brickstone Bankability Framework, showing a clear understanding of commercial and institutional risk.

But Bode Ojeniyi wanted more. “Your market sounds attractive, but fertiliser is not immune to policy shocks. What happens if the government withdraws subsidy support midway?” he asked. He advised that the team consider more robust revenue stress testing and scenario planning.

Cecilia Akintomide was intrigued but sceptical about cross-border demand assumptions. “You mentioned Brazil and Mexico as part of your export footprint. Have you spoken to them? Or is this aspirational?” she asked. Her comments revealed an underlying truth: investors need to see letters of intent, not just market potential.

Femi Awofala appreciated the shift toward agri-infrastructure. “We need more infrastructure projects linked to value chains. But clarity around seasonality and warehousing is key. Don't let complexity eat your margins before you reach breakeven.”

 

Group D: Epe Green City – Infrastructure at the Intersection of Sustainability and Scale

The final presentation came from Group D, who proposed Epe Green City, a smart, sustainable, mixed-use urban development in Lagos. With proximity to Lekki’s industrial corridor and the Dangote Refinery, the site was ideally located to absorb urban overspill and offer dignified living conditions for middle-income Nigerians.

The team presented a well-articulated master plan that divided 8,500 hectares into residential zones, industrial parks, green spaces, and infrastructure corridors. Financing would include a blend of senior debt from multilateral development banks and climate-aligned equity from institutions like Shelter Afrique and the Green Climate Fund.

Cecilia Akintomide was the first to respond, raising concerns about environmental integrity. “This is a green zone. How much of the existing ecosystem will be preserved?” she asked, pressing for specifics on tree cover, water management, and compliance with the Environmental Impact Assessment (EIA) Act.

Bode Ojeniyi addressed the affordability dimension, asking pointedly, “Who is this city for? Is it for mid-level executives, or are you providing real housing access for the displaced urban poor?” His question reframed the project from a real estate lens to a social impact lens.

Jobalo Oshikanlu returned to governance, emphasising that “Resettlement Action Plans are not optional. If you displace communities, you must demonstrate a pathway to dignity.” He challenged the team to think beyond infrastructure and into inclusive urban planning.

Femi Awofala concluded with a high note. “You have a great vision. Now bring it down to 20 hectares and pilot it. If you get that right, funding the next 500 will be the easy part.”

 

By the end of the InfraPitch session, one thing was clear: The African Catalyst had not only trained participants on technical and financial principles but also sharpened their narrative discipline and investor-facing clarity. The jury provided feedback that went far beyond surface-level advice. They dissected language, structure, credibility, and assumptions.

For the participants, this wasn’t a graduation—it was a rite of passage. They had stood before investors, defended their ideas, and walked away not with judgment, but with direction. The Q&A was often intense, but always instructive, and reflected what real-world engagement with development finance institutions often feels like.

Perhaps the most powerful moment came when Femi Awofala reminded the audience that early-stage infrastructure development is a long, uncertain, and often lonely road. “What DFIP does is give you the map, not the money,” he said. “But if you follow the map, you’ll raise the money—and you’ll build Africa.”