The Nigeria Sovereign Investment Authority (NSIA), says it recorded an increase in Net Asset from the sum of 919.73 billion naira in 2021 to 1.02 trillion naira in 2022, representing 10.5% growth in the year under review.
Managing Director and Chief Executive Officer of the NSIA, Aminu Umar-Sadiq stated this at the official presentation of the ÑSIA 2022 Audited Financial Statements, in Abuja.
Umar Sadiq said despite volatility and headwinds across global markets in 2022, the NSIA recorded positive earnings through effective management of the resources entrusted in its care.
The Authority which recorded 10th straight year of continuous positive earnings, according to the M.D, also noted it’s earnings from interest income, infrastructure business revenue, and fiduciary activities’ management fees which increased by 34.5% amounting to N15.7 billion year-on-year growth.
The manager of the nation’s Sovereign Wealth Fund further disclosed that it has expanded it’s focus sectors to include climate finance, renewable energy, innovation, and technology,, in addition to the priority sectors it had maintained over the years.
Speaking on the outlook for the year 2023, the MD said the Authority’s strategy will focus on driving growth through platforms, Assessing exit opportunities from existing investments, and Attracting local currency capital.
Other areas of focus highlighted include: Increasing third-party asset management portfolio as well as Leveraging ESG as an asset class
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Umar-Sadiq however, expressed confidence in the Authority’s investment strategy, assuring that it would continue to explore opportunities to mitigate risks and drive financial performance on the nation’s resources.
