The Chapel Hill Denham Nigeria Infrastructure Debt Fund (“NIDF”) records N13.7 billion PBT for 9M 2024 – a 24% Year-on-Year Growth
October 16, 2024LAGOS, NIGERIA – 4th April 2025 - Chapel Hill Denham Nigeria Infrastructure Debt Fund (NGX: NIDF) (“NIDF”) has announced its full year ended 31 December 2024 (Audited) and first quarter ended 31 March 2025 (Unaudited) results.
Performance Summary
The NIDF remains stable, with slight share price volatility, and over the past eight years - since its first listing in June
2017 - the Fund has achieved a 262.0% return on every naira invested and currently offers a dividend yield of
20.98% (last 12 months, based on NAV per unit). The NIDF continues to consistently outperform its benchmark:
the 10-Year FGN bond.
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 with every passing 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 ₦21.58 billion for FY 2024, which is an increase of 36.6% over FY 2023 (excluding the exceptional income arising from sale of PAT shares in FY 2023).
- Interest income was up by 39% Year-on-Year at ₦17.6 billion (FY 2024).
- Profit after Tax increased by 39% Year-on-Year after adjusting for the impact of exceptional income in FY 2023.
- Total income of ₦6.78 billion for Q1 2025, 52 % increase over Q1 2024.
- Interest income for Q1 2025 was up 36% over Q1 2024.
- Profit after Tax for Q1 2025 was 58% higher than Q1 2024.
Financial Position:
- Financial assets held at fair value through P/L grew by 11% year to date from ₦93.4 billion to ₦103.6 billion as at Q1 2025.
- Total assets increased by 1% year to date from ₦120.7 billion to ₦121.5 billion as at the end of March 2025.
- Total liabilities grew by 4% year to date, from ₦7.0 billion to ₦7.3 billion as at Q1 2025.
- Net Asset Value increased by 0.4% year to date from ₦113.7 billion to ₦ 114.2 billion as at the end of March 2025.
Other Key Highlights:
- During the period ended 31 March 2025, the Fund continued its progress in building a more diversified portfolio of infrastructure loans, by financing commercially viable infrastructure projects on attractive terms. The infrastructure loan portfolio currently manages twenty-eight infrastructure loans across 10 sub-sectors.
For further information, please contact:
Chinedu Ademiju: Chapel Hill Denham Nigeria Infrastructure Debt Fund
Tel: +234 809 742 6095
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
Notes to editors:
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 N114.2 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.
