The Nigeria Infrastructure Debt Fund (NIDF) has reported a post-tax profit of N8.37 billion, marking a 15.8 percent increase from N7.23 billion in the first half of 2023. This information was revealed in the fund’s financial statement for the first half of 2024, which was filed with the Nigeria Exchange Limited on Thursday.
The Chapel Hill Denham Nigeria Infrastructure Debt Fund, distinguished as Nigeria’s premier and exclusive infrastructure debt fund, operates under the regulations of both the Securities and Exchange Commission of Nigeria and the National Pension Commission of Nigeria.
NIDF’s pretax profit reached N8.37 billion, reflecting a 16.0 percent year-over-year growth. Additionally, the fund’s total assets increased to N108.64 billion, a 0.78 percent rise from N107.80 billion in 2023, driven by higher cash equivalents and financial assets, showcasing effective asset management amid market fluctuations.
Total income soared to N9.49 billion, a 17.6 percent increase from N8.06 billion in the previous year, primarily due to enhanced interest income from infrastructure investments.
Operational costs jumped by 34.7 percent to N1.12 billion, indicating essential expenditures to enhance portfolio growth and guarantee investor returns. The net asset value and unit performance for NIDF slightly rose to N107.69, a 0.16 percent uptick from N107.54 in the previous year.
Despite inflation reaching over 30 percent for the first time since the late 1990s, NIDF has managed to outpace the Consumer Price Index. This outcome demonstrates the fund’s ability to achieve strong returns in a high-inflation setting, offering protection against economic fluctuations.
NIDF declared a quarterly payout of N4.27 per unit for the second quarter ending June 30. Set for distribution to qualified unit holders on July 25, this payout is fully financed by the cash inflows accumulated by the fund during the quarter.
