Investors now have a chance to buy units at a reduced price as the Nigeria Infrastructure Debt Fund (NIDF) opens its Series 12 fundraising to gather up to N45 billion for major projects nationwide.
The public offer opened on 23 September 2026, offering 396.33 million units at N113.54 per unit. The price gives buyers a 23.13% discount compared to the N147.70 closing price recorded on the Nigerian Exchange on 22 September.
Chapel Hill Denham Management Limited acts as the manager of the fund. Aramide Oyeneyin issued the official announcement for the manager under the fund’s total N200 billion capital plan.
Details of the capital raise
Money raised from this sale will go directly into new infrastructure projects across the country.
The offer marks the 12th capital raise for the fund since it started operations in 2017. It is also the fourth time it is raising funds after joining the stock exchange list.
“The Series 12 Offer represents the Fund’s twelfth (12th) capital raise since inception in 2017 and the fourth (4th) since its Listing on the NGX,” the Fund stated.
The manager plans to use the new money to buy additional infrastructure investments while maintaining steady cash returns to subscribers.
Financial returns and past records
The fund operates as Nigeria’s first public infrastructure debt fund, collecting local money to give long-term loans for construction projects.
It has sent over $625 million to various infrastructure builds in the last ten years.
“NIDF has established a strong track record of regular distributions, having delivered 37 distributions since inception, aggregating to more than N100 billion,” the Fund stated.
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For the first six months of 2026, the fund earned N10.63 billion profit before tax. This was lower than the N11.79 billion profit recorded during the same six months in 2025.
It paid a second-quarter 2026 return of N4.40 on every unit to investors.
Loans given out by the fund gain interest at 300 to 500 basis points — which means 3% to 5% — above the 10-year Federal Government of Nigeria bond interest rate.
What readers should know
This sale lets everyday investors put money into local development projects through a managed financial fund.
An infrastructure debt fund gathers money from many people and lends it to builders who construct power, roads, and other essential facilities.
In return, the fund collects interest payments and shares the money among its unit holders as cash payouts.
“The Series 12 Offer represents the next stage of NIDF’s growth and provides investors with an opportunity to participate in the Fund’s continued growth and benefit from regular distributions,” the Fund stated.
Buying at the current N113.54 offer price gives new investors a cheaper entry price than buying directly on the open stock market.
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