Business
By Elizabeth Christopher,Abuja
The Nigeria Sovereign Investment Authority NSIA says it would continually create long-term value for its stakeholders by delivering excellent risk-adjusted financial results, and develop a healthy and well-diversified portfolio of assets and large-scale infrastructure projects to enhance the desired social and economic outcomes in Nigeria
The Authority explained that it is charting a course for sustainable income growth in 2025, even as persistent global market volatility, geopolitical tensions, and inflationary pressures continue to weigh on institutional portfolios worldwide.
The Managing Director and CEO of NSIA, Umar Sadiq while presenting the Authority’s 2024 financial earnings and outlook to Journalists in Abuja, said the Authority is deploying a cautious but growth-oriented strategy that prioritizes long-term value creation, diversification, and resilience across asset classes.
“For over a decade, NSIA successfully built and nurtured a diverse portfolio of subsidiaries across various sectors that contribute meaningfully to the national economy.
“Our approach is rooted in strong governance, robust risk management, and a strong operational focus.
“These have enabled us to optimize performance while adhering to our long-term strategic objectives”.
“The goal is stable income growth, consistent with our savings mandate”, he said
The NSIA Managing Director disclosed that the Authority received a total of $1.82 billion in net government contributions since it was established in 2011.
“These funds have been efficiently utilized by NSIA resulting in a Net Asset Value (NAV) of $2.84 billion as at December, 2024.”
NSIA share ownership shows that the Federal government has 46.5 percent, States 34.8 percent, Local Government Areas 18. 2 percent while the Federal Capital Territory (FCT) has 0.5 percent respectively.
In the 2024 Global Sovereign Wealth Funds (SWF) Governance, Sustainability and Resilience ranking, NSIA scored 90 percent, ranking second alongside Australia, Spain and Germany.
The MD said, “For over a decade, NSIA has successfully executed more than 150 Investments in a wide range of projects across the African Continent, demonstrating its commitment throughout the region”.
According to the 2024 financial records presented, NSIA posted a record ₦1.86 trillion profit for 2024 fiscal year, marking its 12th consecutive year of profitability.
This growth from ₦1.17 trillion in 2023 was driven by a strong portfolio performance, including infrastructure assets and favorable foreign exchange movements.
“Total Comprehensive Income (TCI) rose 59% to ₦1.89 trillion, while core TCI, excluding foreign exchange and derivative gains, surged 148% to ₦407.9 billion. NSIA’s net assets grew by 96%, reaching ₦4.35 trillion, reinforcing its key role in Nigeria’s economic transformation”.
The MD noted that the impressive financial results, especially net returns were driven by efficient balance sheet management, focus on sustainable earnings, pioneering infrastructure investment, as well as cost efficiency.
“The 148% jump in TCI was driven by improved performance on fair value gains from externally managed investments due to market recoveries; increased earnings from Eurobonds, fixed deposits, commercial papers due to commitment to boosting sustainable earnings in 2024; increased returns from associates and joint venture entities; net gains on collaterised securities, as well as net FX gains due to naira depreciation”
Speaking, the Chief Operating Officer, NSIA, Mrs. Ijeoma Taylaur explained that the funds has attracted domestic and international capital to bridge funding gaps and unlock large investment across critical sectors of the Nigerian economy.
The NSIA reiterated that it would continually create long-term value for its stakeholders by delivering excellent risk-adjusted financial results, develop a healthy and well-diversified portfolio of assets and large-scale infrastructure projects to enhance the desired social and economic outcomes in Nigeria.
Victoria Ibanga
