The Nigerian Infrastructure Development Fund (NIDF) made a significant impact on the Nigerian Exchange Limited’s market capitalization, adding N92.55 billion during its listing on Thursday.
This momentous event was marked with a closing-gong ceremony and a presentation outlining the details of the listing at the NGX.
NIDF, managed by Chapel Hill Denham, stands as Nigeria’s premier infrastructure debt fund, exclusively domiciled in the country.
It boasts a total value of N200 billion as a public infrastructure investment fund, representing a vital contribution to the nation’s development.
During the listing ceremony, Phil Southwell, the fund’s chairman, shared that since its launch in mid-2017, NIDF has generated an impressive return of 155 percent.
Remarkably, it has managed to avoid any Non-Performing Loans (NPLs), offering an enticing risk-return profile for investors.
Southwell expressed his belief that NIDF is just the beginning of a series of investment trusts listed on the NGX, drawing parallels with the UK market where investment trusts play a significant role.
Temi Popoola, the CEO of NGX, expressed enthusiasm about the listing, emphasizing the exchange’s commitment to supporting financial instruments that drive sustainable wealth creation and infrastructure development in Nigeria.
He also highlighted how the listing would enhance NIDF’s visibility, providing investors with more diverse investment opportunities.
Bolaji Balogun, CEO of Chapel Hill Denham, proudly declared NIDF as Nigeria’s best-performing fund over the past five years.
He emphasized that the fund not only delivered substantial economic returns but also made a positive impact on people’s lives.
By the close of Thursday’s trading session, the NGX’s market capitalization had reached N36.526 trillion.
NIDF’s primary focus remains on domestic investments in key sectors of the Nigerian economy, including motorways, power, and agriculture.
