The Nigeria Infrastructure Debt Fund (NIDF), the country’s first listed infrastructure debt fund, has recorded a 22.7 percentage point increase in the amount of value an investor earns when all distributions are reinvested.
NIDF’s latest financial statements show that its total return rose to 379.9 percent in the first six months of 2025 from 309.6 percent in H1 of 2024. This implies the amount of value an investor earns when all distributions are reinvested and increased during the period.
“NIDF offers the most attractive yield on the Nigerian Exchange Limited and is renowned for paying quarterly distributions,” the report said.
It said the fund’s objective is to provide investors with regular, sustained, and long-term distributions to preserve capital over the long term by generating exposure to naira-denominated infrastructure debt in Nigeria, which generates regular and predictable long-term cash flows.
Here are highlights from the fund’s report
Profit grew to N11.7bn
NIDF’s after-tax profit grew to N11.7 billion in the first half of 2025 from N8.37 billion in the same period of 2024, while total income increased to N12.8 billion from N9.46 billion.
The interest income on infrastructure loans increased to N10.9 billion from N7.9 billion in the similar period of 2024. Net fair value losses on infrastructure loans increased to N379 million from N208.3 million.
The infrastructure loan portfolio has a 20.58 percent weighted average annualised yield.
NIDF said in a statement highlighting its portfolio summary that as of the period ending June 30, 2024, it has a diversified portfolio of 28 investments.
“The infrastructure loan portfolio had a weighted average annualised yield of 20.58 percent, a weighted average tenor at disbursement of 9.26 years, and a weighted average remaining life of 6.99 years,” it said.
Loans are priced at 300 – 500 basis points
NIDF said the loans are typically priced at 300-500 bps over the benchmark on a floating rate basis.
“NIDF continues to consistently outperform its benchmark: the 10-Year FGN bond.”
It further stated that NIDF performance, notwithstanding inflation, exceeds 30 percent for the first time since the late 1990s. “NIDF is sponsored by the Chapel Hill Denham Group, and Chapel Hill Denham Management Limited acts as the Fund Manager of NIDF. The fund manager is rated “A” by Agusto & Co., marginally ahead of the Consumer Price Index.”
NDIF to raise N40.08bn
During HY 2025, the Fund received approval from the Securities and Exchange Commission (SEC) and commenced its capital raise for Series 11.
“The fund is seeking to raise N40.08 billion in the current capital raise (Series 11), it said in the statement,” it said.
NIDF quarterly distribution stood at N5.20 per unit
The fund announced a quarterly distribution for the second quarter ended June 2025 which is N5.20 per unit on July 9, 2025, with a qualification date of July 24, 2025.
“This distribution will be paid to eligible Unitholders on 1st August 2025 and is fully funded from the cash inflows generated by the Fund during the quarter.”
NIDF stated that going forward, the Fund Manager intends to continue paying quarterly distributions to Unitholders, in line with the actual performance of the Fund and the provisions of the Constitutional Documents.
