Nigeria Infrastructure Debt Fund Gains N20.380 BN in 2023

According to the PUNCH report, the Profit after tax of Chapel Hill Denham managed Nigeria Infrastructure Debt Fund grew by 97.99% to N20.380bn at the end of 2023, far from the corresponding year, which stood at N10.293bn in 2022.

This report was revealed on Tuesday in the Quarterly Investor Report for the quarter that ended on December 31, 2023, and filed with the Nigerian Exchange Limited.

Also, it’s been reported that NDIF became Nigeria’s first infrastructure debt fund registered by the Securities and Exchange Commission, Nigeria, which was listed on the NGX and the FMDQ Exchange, Lagos. It was listed on the exchange in October 2023. 

In its statement of comprehensive income for the financial year 2023 (unaudited), the fund reported N12.689bn from interest income on infrastructure loans from N9.328bn, which boosted its total income to N22.099bn from N11.784bn at the end of the same period in 2022, as reported by the PUNCH.

Its unaudited results for the fiscal year 2023 show that its assets climbed to N108.211bn from N94.608bn at the end of 2022. The company's liabilities also increased to N103,852bn from N91.732bn.

In Q4 2023, it was revealed that the Investment Committee of the Fund approved one new infrastructure loan of N3.69bn. The loan has now been disbursed after the execution of definitive documentation and compliance with disbursement conditions by the borrower.

For the reporting period, the Fund announced a quarterly distribution of N3.95 per unit on Monday, with a qualification date of January 22, 2024. This distribution will be paid to eligible unitholders on January 26, 2024, and is fully funded by the cash inflows generated by the Fund during the quarter.

OTHER REPORTS BY PUNCH

In December 2023, the Fund announced a special distribution of the sum of N6.55 per unit. NIDF said that going forward, it intends to continue paying quarterly distributions to unitholders, in line with the actual performance of the Fund and the provisions of the Constitutional Documents.

As of the period ending December 2023, NIDF had a diversified portfolio of 26 Investments.

Of its investment portfolio as of the end of 2023, telecom towers had the largest share at 21%, followed by pipeline networks at 19%, Marine infrastructure at 14%, gas processing plants at 13% and off-grid solar at 11% across 458 sites.

NIDF has 960,649,354 units in issue