NIDF (Nigeria Infrastructure Debt Fund), managed by Chapel Hill Denham, has opened its Series 12 offer under a wider ₦200 billion issuance programme.
The offer contains about 396.33 million units priced at ₦113.54 each and opened on September 23. (Nigerian Stock Exchange)
NIDF is listed on the NGX (Nigerian Exchange) and raises money from investors which it then uses to finance infrastructure projects.
That is important because infrastructure projects such as power, transport and industrial facilities often need loans that can be repaid over many years.
Nigeria’s normal banking system does not always provide enough long-term naira financing for projects of that size.
Why the fund is raising more money
NIDF says it has been raising and deploying capital for Nigerian infrastructure since 2017.
The latest offer is its 12th capital raise and the fourth since it was listed on the NGX.
The fund says it has also made 37 distributions to investors since it began, totalling more than ₦100 billion. (Nigerian Stock Exchange)
The new units were offered at ₦113.54, below the fund’s ₦147.70 market closing price on September 22.
What this means
This is not another Federal Government loan.
It is an investment fund raising private capital that can then be lent to infrastructure projects in Nigeria.
If the offer succeeds, the practical importance will depend on where the new money is eventually invested — particularly whether it reaches projects that improve electricity, transport, industrial capacity or other infrastructure Nigerians and businesses use.
