Nigeria Infrastructure Debt Fund Declares ₦4.40 Distribution as H1 Profit Reaches ₦10.63 Billion
The Nigeria Infrastructure Debt Fund (NIDF) has declared a ₦4.40 per unit distribution for the second quarter of 2026 after reporting a profit after tax of ₦10.63 billion for the first half (H1) of the year.
The quarterly distribution will be paid to eligible unit holders on July 27, 2026 with July 17 set as the qualification date.
According to the Fund Manager, the payout is fully backed by cash generated from the Fund’s investment activities during the quarter.
The infrastructure-focused investment vehicle reported total income of ₦11.80 billion during the six-month period ended June 30, 2026, compared with ₦12.84 billion recorded in the corresponding period of 2025.
Profit after tax stood at ₦10.63 billion, while total distributions paid and payable amounted to ₦10.69 billion.
Net Asset Value (NAV) remained broadly stable at ₦130.56 billion, translating to a NAV of ₦109.08 per unit. The Fund closed the period with cash and cash equivalents of ₦45.77 billion, providing significant liquidity to support existing commitments and future investments.
NIDF said its investment portfolio remained diversified across 15 infrastructure assets, with an annualised weighted average portfolio yield of 18.23 percent.
The Fund’s investments span strategic sectors including pipeline infrastructure, marine facilities, off-grid solar, independent power plants, telecommunications towers, broadband infrastructure and student accommodation.
The Fund disclosed that it has ₦6.2 billion in outstanding investment commitments, while an additional ₦25.7 billion of infrastructure investments has reached the conditions precedent stage.
Disbursement of the new investments is expected to begin in July 2026, potentially expanding the Fund’s income-generating portfolio in the second half of the year.
Management noted that the Fund continues to outperform its benchmark, the 10-year Federal Government of Nigeria bond with infrastructure loans generally priced between 300 and 500 basis points above the benchmark on a floating-rate basis.
During the first half of 2026, the benchmark yield declined by 336 basis points compared with 2025, reflecting changing interest rate conditions in the domestic fixed-income market.
As of June 30, 2026, the Fund had 1.197 billion units in issue with a market capitalisation of approximately ₦161.59 billion based on a closing market price of ₦135 per unit.
The distribution yield stood at 18.23 percent, maintaining NIDF’s position among the higher-yielding income-focused investment vehicles listed on the Nigerian Exchange.
Established in 2017, the Nigeria Infrastructure Debt Fund is Nigeria’s first listed infrastructure debt fund and invests primarily in naira-denominated infrastructure debt assets designed to generate stable long-term cash flows.
The Fund Manager said it remains committed to sustaining quarterly distributions in line with portfolio performance, cash generation and the provisions of the Fund’s governing documents.
