The Nigeria Naira Infrastructure Debt Fund (NIBF), the first of it is kind in Nigeria and Sub-Saharan Africa, is now available for trading on the Nigerian Exchange Limited (NGX). During the ceremony, the Fund’s managers shared important information about the listing with market stakeholders.
The Nigeria Infrastructure Debt Fund (NIDF) is a 200 billion Naira public investment fund managed by Chapel Hill Denham. It has support from significant institutional investors, including the Nigeria Sovereign Investment Authority (NSIA). The fund offers long-term financing in Naira for private infrastructure projects and has delivered a 155% return since its inception.
NIDF recently listed 853,817,692 units on the Main Board of NGX at a price of N8.39 per share. It will distribute quarterly dividends to investors from the profits generated by investing in sectors such as power, transportation, healthcare, and education.
Temi Popoola, the CEO of NGX, praised Chapel Hill Denham for consistently adding significant value to the Exchange and for being a major contributor to the growth of the capital market over the past five years.
Bolaji Balogun, CEO of Chapel Hill Denham, expressed that listing the fund is a significant step for Nigeria’s economy. NIDF, which has been operational since 2017, has consistently distributed returns for 24 quarters.
Anshul Rai, the CEO of NIDF, acknowledged the fund’s successful journey since its establishment in 2017. He credited the dedicated team for their efforts and pointed out that they’ve been fortunate to avoid Non-Performing Loans. Additionally, he mentioned that the fund has experienced robust price performance with substantial returns.
Phill Southwell, the chairman of NIDF, echoed these sentiments and praised the listing. Phill Southwell also highlighted that the fund’s investment strategy incorporates Environmental, Social, and Governance (ESG) considerations.
Conclusion
The listing of the Naira Infrastructure Fund on NGX marks a significant milestone in Nigeria’s financial landscape. This debut not only showcases the potential for local currency-denominated infrastructure investments but also underscores the commitment to fostering growth and development in key sectors of the economy.
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