NIDF Announces N10.63 Billion Half-Year Earnings

The Nigeria Infrastructure Debt Fund has unveiled its financial performance for the first six months of 2026, revealing a pre-tax profit of N10.63bn, a notable achievement in the current economic landscape.

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Under the management of Chapel Hill Denham Management Limited, the fund has further entrenched its position as a premier income-generating investment option on both the Nigerian Exchange and FMDQ Exchange, driven by its diverse portfolio.

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The fund's total income for the period ending 30 June 2026, amounted to N11.80bn, largely attributed to the robust interest generated from its infrastructure loan portfolio, which continues to be a key driver of its financial success.

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A closer examination of the portfolio reveals a weighted average annualised yield of 18.23 per cent, a weighted average tenor at disbursement of 10.33 years, and a weighted average remaining life of 7.74 years, as disclosed by the fund manager in the report.

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Notably, despite the challenges posed by a declining macroeconomic environment, where the 10-Year FGN bond benchmark decreased by 336 basis points compared to the previous year, the Nigeria Infrastructure Debt Fund has maintained its impressive track record of outperformance.

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The fund's strategic structuring has effectively shielded it from market volatility, enabling it to consistently outperform its benchmark, the 10-Year FGN bond, with loans typically priced at 300-500bps over the benchmark on a floating rate basis.

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As of 30 June 2026, the fund's net assets stood at N130.56bn, with a stable Net Asset Value per unit of N109.08, underscoring its financial stability and resilience.

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The total market value of the fund on the exchange closed the half-year at N161.59bn, with 1,196,957,476 units in issue trading at a market price of N135 per unit, reflecting its strong market presence.

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In line with its primary objective of providing regular and predictable long-term cash flows, the fund has announced a Q2 2026 distribution of N4.40 per unit, a move aimed at delivering value to its unitholders.

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This distribution, scheduled to be paid to eligible unitholders on 27 July 2026, is fully funded from the cash inflows generated by the fund during the quarter, as confirmed by the management.

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Looking ahead, the fund is poised for significant portfolio expansion, bolstered by a strong cash position of N45.77bn, which will enable it to pursue new investment opportunities and drive growth.

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The Nigeria Infrastructure Debt Fund currently holds outstanding commitments of N6.2bn, alongside an additional investment pipeline of N25.7bn that is nearing the completion of its conditions precedent phase, setting the stage for further expansion.

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Disbursements for these new infrastructure projects are expected to commence before the end of July 2026, marking a significant milestone in the fund's growth trajectory and its contribution to Nigeria's infrastructure development.