Nigeria Infrastructure Debt Fund (NIDF), the country’s largest and Africa’s first-ever listed infrastructure fund recorded a reduction in profit even as the company continues to offer the most attractive yield on the Nigeria Exchange Limited (NGX).
For the first three months through March 2026, NIDF or the “Fund” posted a profit after tax (PAT) of N5.37 billion, which is 14.21 percent lower than 2025’s N6.26 billion.
The Fund that has consistently outperformed its benchmark: the 10-Year Federal Government Nigeria (FGN) bond saw total revenue dip by 12.24 percent to N5.95 billion in March 2026 from N6.78 billion the previous year.
A breakdown of total revenue shows Interest in income on infrastructure loans reduced by 18.52 percent to N4.31 billion in the period under review from N5.29 billion.
The cumulative performance of the Fund shows total returns stood at 431.68%, which is higher than 414.62% generated in 2025, a way higher than 142.30% realized in 2018. Total return is the amount of value an investor earns when all distributions are reinvested.
It has outstanding commitment of N3.0 billion and has also approved two additional investments aggregating N35.4 billion, whose documentation is close to finalisation & disbursements are expected in April 2026.
Portfolio summary
- Well diversified portfolio with attractive yield: As at 31st March 2026, NIDF had a diversified portfolio of 17 investments. The infrastructure loan portfolio had a weighted average annualised yield of 19.13 percent, weighted average tenor at disbursement of 9.92 years, and weighted average remaining life of 7.78 years.
- Highest dividend yield among NGX firms: The Fund has a dividend yield of 14.44 percent, which is the highest among NGX firms as it clings to an attractive dividend policy that attracts investors.
It announced a quarterly distribution – for the first quarter ended 31st March 2026 of 4.53 Naira per Unit on 15th April 2026 with a qualification date of 28th April 2026. This distribution will be paid to eligible Unitholders on 6th May 2026 and is fully funded from the cash inflows generated by the Fund during the quarter.
“Going forward, it is the intention of the Fund Manager to continue paying quarterly distributions to Unit holders, in line with the actual performance of the Fund and the provisions of the Constitutional Documents,” said NIDF.
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