NREIT profits rise 328% to N6.05 billion in H1 2026

Nigeria Real Estate Investment Trust (NREIT) recorded first-half profits of N6.05 billion for the six months ended June 30, 2026, a year-on-year increase of approximately 328 percent. Total income reached N7.97 billion, up 357 percent from N1.74 billion in the same period last year. This growth occurred alongside a dramatic rise in operating expenses to N1.92 billion, which increased by roughly 482 percent compared to N329.81 million a year earlier. The trust's cash and cash equivalents more than tripled to N12.09 billion, bringing total assets to N215.83 billion at mid-year. Investment property holdings remained stable at N187.43 billion while other receivables climbed to N16.31 billion. The financial results indicate that income expansion significantly outpaced operational cost increases during the reporting period.