The Nigerian Infrastructure Debt Fund (NIDF) built steady momentum throughout 2025.
As a result, the fund delivered a pre-tax profit of ₦23.6 billion.
This marked a clear increase from ₦19.5 billion in 2024.
Profit Growth Accelerates
Meanwhile, NIDF disclosed the results in its latest financial statement.
The fund filed the statement on the Nigerian Exchange on January 15, 2026.
As the year progressed, performance strengthened in the final quarter.
In particular, fourth-quarter earnings rose to ₦6.7 billion from ₦5.9 billion.
This improvement underscored the strength of core lending activities.
Loans Drive NIDF Earnings
Notably, interest income drove overall earnings growth.
Income from infrastructure loans climbed to ₦21.5 billion from ₦17.6 billion.
This increase reflected stronger loan performance across funded projects.
However, fourth-quarter interest income eased slightly to ₦4.8 billion.
Previously, the fund recorded ₦4.9 billion during the same period last year.
Nevertheless, the contribution remained significant for full-year earnings.
In addition, valuation gains supported income growth.
Net fair value gains on infrastructure loans jumped to ₦1.0 billion.
At the same time, other income contributed ₦3.2 billion.
Consequently, total income rose to ₦25.7 billion.
This represented nearly 20% growth year on year.
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Balance Sheet Strengthens
Meanwhile, expenses increased at a slower pace.
The fund recorded total costs of ₦2.1 billion for the year.
As a result, disciplined spending protected profitability.
Accordingly, pre-tax profit increased by 20.6% to ₦23.6 billion. This outcome confirmed effective cost control and stable revenue expansion.
Alongside earnings, the balance sheet continued to grow.
Total assets rose to ₦137.7 billion from ₦120.7 billion. Financial assets at fair value accounted for ₦95.8 billion.
In addition, cash and cash equivalents reached ₦40.2 billion.
This position strengthened liquidity and operational flexibility.
On the liabilities side, total obligations edged up to ₦7.05 billion.
Distribution payables accounted for ₦5.5 billion of this amount.
At the same time, members’ funds grew by 14.93% to ₦130.7 billion.
Units in issue also increased to 1.19 billion from 1.05 billion.
Turning to investments, the portfolio spans nine infrastructure sectors.
A 176-kilometre pipeline project remains the largest exposure.
It represents 41% of total investments.
Next, marine infrastructure accounts for 20% of the portfolio.
Off-grid solar sites contribute 11% of total investments.
Telecom towers add a further 10%.
Beyond these, the fund invested in gas plants, power projects and broadband assets.
Together, these assets support a diversified investment strategy.
Finally, returns to investors remained attractive.
Fourth-quarter distribution yield reached 20.99%, or ₦4.68 per unit.
For 2025, the fund outperformed the 10-year FGN bond benchmark.
Overall, the fund achieved an outperformance of 415.19 basis points.
