Connect with us


Foreign investments help drive Nigeria Sovereign Investment Authority income by 343%



The Nigeria Sovereign Investment Authority (NSIA) has announced a 343 percent growth in total comprehensive income to N160.06 billion in 2020 as against N36.15 billion the previous year.

NSIA managing director, Uche Orji disclosed this in a statement to journalists on Tuesday.

According to the NSIA boss the authority also achieved 33 percent growth in Net Assets amounting to N772.75 billion as against N579.54 billion in the previous year and a 51 percent growth in Total Assets to N981.78 billion from N649.85 billion in 2019.

Further breakdown by Orji also showed stabilisation and Infrastructure Funds were received and an additional contribution of $250 million it provided first stabilisation support of $150 million from the Stabilisation Fund to the Federal Government.

Read also: Africa foreign investments abroad led to poverty at home

“In 2020, we also received $311 million from funds recovered from late General Sani Abacha from the US Department of Justice and Island of Jersey with the funds deployed towards the Presidential Infrastructure Development Fund (PIDF) projects of Abuja-Kaduna-Kano Highway, Lagos Ibadan Expressway and the Second Niger Bridge,” he said.

Excluding devaluation gain of N51billion, the NSIA books also reported core income of N109billion compared to N33.07 billion in 2019.

“The asset classes which were top performers for the year include, Venture Capital investment returns which were up 29 percent in US$ terms; Hedge Funds which went up 11 percent; Emerging Long Only Equity Managers were also up by 22 percent; Developed Long-only equity managers up 19 percent; and Private Equity up 13 percent for the year,” he explained.

This is the 8th year of straight profit by the NSIA which manages over $1.6bn of Nigeria’s Sovereign Wealth Fund.

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

10 − seven =