NIDF reports N17.36bn profit, approves N4.53 quarterly dividend

The Denham Nigeria Infrastructure Debt Fund (NIDF) reported a remarkable N17.36 billion profit before tax for its nine-month period ending September 30, 2026, marking a 2.9% increase from the same period the previous year. Despite a general decline in market interest rates, the fund's total income grew by 3.7% to N19.13 billion compared to 2025.

While interest income from infrastructure loans saw a 25.5% drop due to lower yields on the 10-year Federal Government bond, bank deposits generated a staggering 224.1% increase, reaching N5.1 billion. Total assets increased slightly by 1.1% year-to-date, reaching N139.2 billion, with financial assets held at fair value totaling N104.4 billion.

The fund's total assets grew by 1.1% year-to-date from N137.3 billion. The Investment Committee approved a quarterly dividend of N4.53 per unit, the 38th distribution since inception, bringing the cumulative distribution paid to unitholders to N110 billion. The fund is currently executing a Series 12 capital raise to secure N45 billion, with an offer priced at N113.54 per unit, representing a 23.13% discount to the market closing price of N147.70 recorded on October 5.

With a 472.22% return on investment since its listing in June 2017 and a trailing 12-month dividend yield of 19.64%, NIDF remains committed to Nigeria's development, positioning itself as the leading Infrastructure Fund in the region.