From Adetutu Folasade-Koyi, Abuja
Twelve years after its establishment, the Nigeria Sovereign Investment Authority is now a N1 trillion asset institution, according to the Managing Director and Chief Executive Officer, Aminu Umar-Sadiq.
The NSIA boss told newsmen in Abuja, yesterday, that the country’s sovereign wealth manager grew net assets by 10.5 percent to N1.02 trillion in 2022.
In monetary terms, net assets grew from from N919.73 billion in 2021 to N1.02 trillion last year, he added.
Umar said earnings from interest income, infrastructure business revenue, and fiduciary activities’ management fees increased by 34.5 per cent amounting to N15.7 billion year-on year growth.
Presenting the 2022 Audited Financial Statements to newsmen in Abuja, yesterday, Umar-Sadiq, win company of the Executive Director, Corporate Services and Operations, Olubisi Makoju, who shed more light on the financial performance for the year and Mr. Kolawole Owodunni, Executive Director and Chief Investment Officer, who profiled the Authority’s investment strategy and fund performance within the context of the operating environment.
He explained that the NSIA achieved the feat despite the global economic challenges, including the ongoing war in Ukraine and global inflation, among other crises.
He disclosed that the NSIA attracted $500 million Foreign Direct Investments into Nigeria and also invested $500 million in domestic infrastructure.
“Despite the volatile, uncertain, complex, and ambiguous nature of the markets in 2022, we continue to post positive earnings through effective management of the resources entrusted in our care coupled with the deft and harmonious working relationship of the board, executive management and partner institutions.
‘’We are in a fiduciary role for the people of Nigeria, current and future. We are guided by this every day as we recognise the urgent need to leverage the institution’s mandate and fund to support the country’s growth agenda. The results that we are presenting today are a continuation of the sterling foundation laid at the NSIA since inception.
It is a legacy of the achievement that we are sustaining and improving upon.
“Our foray into some new terrains underscores our resolve to ensure that optimal returns are generated through responsible investing. For emphasis, we have on behalf of the present and future generations expanded our focus sectors to include climate finance, renewable energy, innovation, and technology. “This is in addition to the priority sectors we had maintained over the years namely agriculture, motorways, power, healthcare, and gas industralisation.
‘’We recorded 10th straight year of continuous positive earnings despite volatility and headwinds across global markets…Total comprehensive income closed at N96.96bn for 2022, a decline of 34.0 per cent relative to N147.98bn in 2021,” he said.
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