The Chapel Hill Denham Nigeria Infrastructure Debt Fund (“NIDF”) records N8.4 billion PBT for HY 2024 – a 16% Year-on-Year Growth
July 11, 2024The Chapel Hill Denham Nigeria Infrastructure Debt Fund (“NIDF”) announces Profit after Tax of N19.59 billion (FY 2024 – Audited) and N6.26 billion (Q1 2025 – Unaudited)
April 4, 2025LAGOS, NIGERIA – 6th October 2024.
Chapel Hill Denham Nigeria Infrastructure Debt Fund (NGX: NIDF) (“NIDF”) announces its Unaudited Results for the 9-month (9M) period ended 30 September 2024.
Performance Summary
The NIDF remains stable, with slight share price volatility. Over the past seven years - since its first listing in June 2017 - the Fund has achieved a 227.9% return on every naira invested and currently offers a dividend yield of 24% (last 12 months, based on NAV per unit), which surpasses all stocks on the NGX30 Index. The NIDF continues to outperform its benchmark: the 10-Year FGN bond consistently.
We believe that long-term, naira-denominated, project finance debt is an essential ingredient to Nigeria's development and NIDF has seen greater demand for its services every year. We continue to position ourselves as the leading Infrastructure Fund in Nigeria and Sub-Saharan Africa aimed at impacting lives through investing in sectors accretive to Nigeria’s economic development.
Financial Performance Highlights:
Earnings Analysis
- Total Income of ₦15.1 billion for 9M 2024, a 28% Year-on-Year growth from ₦11.8 billion for the same period the prior year.
- Interest income grew by 41% Year-on-Year to ₦12.6 billion from ₦8.9 billion in the prior year.
- Profit Before Tax grew by 24% Year-on-Year to ₦ 13.7 billion, majorly due to an increase in the 10-Year FGN Bond yield driven by the Central Bank of Nigeria’s efforts to curb the significant rise in inflation experienced during the year.
Financial Position:
- Financial assets held at fair value through P/L grew by 0.48% year to date from ₦85.8 billion to ₦86.2 billion as at 9M 2024.
- Total assets increased by 11% year to date from ₦107.8 billion to ₦119.7 billion as at the end of September 2024.
- Total liabilities grew by 251% year to date, from ₦4.5 billion to ₦15.7 billion as at 9M 2024. A significant portion of this increase was due to a higher amount allocated for quarterly distribution during the period. The deposit for shares for the Series 10 Fundraising (NGN 10.3 billion) also contributed to the increase.
- Net Asset Value increased by 0.65% year to date from ₦103.5 billion to ₦ 103.9 billion as at the end of September 2024.
Other Key Highlights:
For further information, please contact:
Chinedu Ademiju: Chapel Hill Denham Nigeria Infrastructure Debt Fund
Tel: +234 802 242 7717
Email: cademiju@chapelhilldenham.com
Ifeoluwa Popoola: Chapel Hill Denham Nigeria Infrastructure Debt Fund
Tel: +234 802 242 7717
Email:ipopoola@chapelhilldenham.com
or ir-nidf@chapelhilldenham.com
About NIDF
The Nigeria Infrastructure Debt Fund (NIDF) is Nigeria’s largest and Africa’s first-ever listed infrastructure investment trust, providing long-term, Naira-denominated financing for infrastructure projects in Nigeria. It is a closed-ended investment trust which operates in the form of a company, registered and regulated by the Nigerian Securities and Exchange Commission and listed on FMDQ and the Nigerian Exchange (NGX).
NIDF provides investors with regular, sustained, long-term distributions and preserves capital over the long-term by generating exposure to Naira-denominated infrastructure debt in Nigeria, which generates regular and predictable long-term cash flows. It offers the most attractive yield on the NGX and has continuously paid quarterly distributions.
With its current capital base of over N103.5 billion, NIDF has a diversified and growing portfolio of infrastructure loans in a broad range of sectors including power generation, energy infrastructure, transportation, telecom, and social infrastructure (education and healthcare). By mobilising domestic capital for financing Nigeria’s infrastructure, NIDF has established a template that can bridge the infrastructure deficit facing not just Nigeria but countries across Africa.
More information can be found at www.nidf.ng
Chapel Hill Denham, 10 Bankole Oki, Ikoyi, Lagos, Nigeria.
Tel: 0700 242 735 4455.
