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NSIA grows FG’s investment by $1 billion in 13 years - THE GUARDIAN
The Federal Government invested $1.82 billion in Nigeria Sovereign Investment Authority (NSIA) since its inception in 2011, an amount that has grown to $2.84 billion representing an additional $1.02 billion.
The Managing Director and Chief Executive Officer of the NSIA, Aminu Umar-Sadiq, said this in Abuja yesterday at the 2024 NSIA earnings presentation, adding that the organisation has executed about 150 investment initiatives.
While revealing that strategic Eurobond investments and capital acquisition have bolstered its financial position, he hinted that the strong balance sheet, boosted by earnings diversity across investment vehicles, has contributed to its financial robustness.
He added that strong balance sheet management has ensured stability and growth amidst market fluctuations.
Umar-Sadiq noted that operating income recorded notable growth, driven by strong performance across major income lines, with both market-sensitive and stable revenue lines achieving above single-digit increases.
According to him, total assets grew by over 90 per cent, primarily driven by increased investment in securities and the revaluation of foreign currency-denominated assets.
The NSIA boss stated that its 12.2 per cent return on average equity was strengthened by solid operating income due to efficient liquidity and investment management.
He further noted that despite the impact of foreign exchange gains on this year’s TCI, NSIA achieved its strongest performance in core TCI in 2024, underscoring management’s commitment to generating stable, non-volatile earnings.
