Nigeria’s first listed infrastructure debt fund sees profit double

Nigeria Infrastructure Debt Fund has reported a profit before tax of N20.38 billion for the 2023 financial year, up from N10.29 billion in the previous year. 

NIDF saw its total income rise to N22.10 billion from N11.78 billion, according to its unaudited financial statements obtained by Markets Reporters from the Nigerian Exchange Limited (NGX).

“NIDF offers the most attractive yield on the NGX and is renowned for paying quarterly distributions,” it said. “Its objective is to provide investors with regular, sustained, long-term distributions and to preserve capital over the long-term by generating exposure to naira-denominated infrastructure debt in Nigeria, which generates regular and predictable long-term cash flows.”