Chapel Hill Denham has announced the eligibility date and payment timeline for a cash distribution by the Nigeria Infrastructure Debt Fund (NIDF), valued at approximately ₦5.59 billion, reinforcing the fund’s appeal among income-focused investors on the Nigerian capital market.
According to a disclosure filed on the Nigerian Exchange (NGX) on 15 January 2026, NIDF will pay a cash distribution of ₦4.68 per unit, subject to applicable withholding tax. The filing, signed off by Chapel Hill Denham in its capacity as fund manager, outlines the eligibility criteria and payment process for unitholders.
Under the announced terms, investors whose names appear in the fund’s register on or before 28 January 2026 will qualify for the distribution. Payment is scheduled for 5 February 2026 and will be made electronically to registered bank accounts. The distribution will be processed by Coronation Registrars, with unitholders required to have completed the e-dividend registration process to receive funds seamlessly.
Strong quarterly performance underpins payout
The latest distribution covers the financial period ended 31 December 2025 and represents an estimated total payout of ₦5.59 billion to investors. Compared with the previous quarter’s distribution of ₦4.25 per unit, the new payout reflects a 10% quarter-on-quarter increase, translating to an annualised yield of 20.99%.
This improvement follows a robust fourth-quarter performance by NIDF. The fund reported a pre-tax profit of ₦6.7 billion in Q4 2025, up from ₦5.9 billion recorded in the same period of 2024. For the full year, pre-tax profit rose to ₦23.6 billion, compared with ₦19.5 billion in the prior year, underscoring steady earnings growth despite a challenging macroeconomic environment.
Interest income remained the dominant revenue driver. Total interest income climbed to ₦21.5 billion in 2025, from ₦17.6 billion in 2024, supported by the expansion of the fund’s loan book. In the fourth quarter alone, interest income stood at ₦4.8 billion, highlighting consistent cash flow generation from underlying infrastructure assets.
Balance sheet expansion and investor confidence
NIDF’s balance sheet also reflected notable growth during the year. Total assets increased to ₦137.7 billion in 2025, up from ₦120.7 billion a year earlier, while members’ funds rose by 14.93% to ₦130.7 billion. The number of units in issue expanded to 1.19 billion, compared with 1.05 billion units in the previous year, signalling sustained investor appetite for the fund.
Diversified infrastructure exposure
The fund’s loan portfolio is diversified across nine infrastructure-related sectors, helping to mitigate concentration risk. Its largest exposure is a 176-kilometre pipeline project, which accounts for 41% of total investments. Marine infrastructure follows at 20%, while 458 off-grid solar sites and 1,125 telecom towers contribute 11% and 10%, respectively.
Other assets in the portfolio include two gas processing plants (9%), solar home systems (3%), two independent power producer (IPP) sites (3%), a student accommodation project (2%), and three broadband internet sites (1%).
In 2025, NIDF outperformed the 10-year Federal Government of Nigeria (FGN) bond by 415.19 basis points, maintaining its strong appeal to investors seeking stable, inflation-beating income from infrastructure-backed assets.
Emmanuel Bassey is a Financial Expert that has worked in the Banking and Finance Industry for over 15+ years across different banks in Nigeria
