NSIA’s total operating income increases to N1.18trn

From Adanna Nnamani, Abuja

The Nigeria Sovereign Investment Authority (NSIA), has said that its total operating income increased from ₦101.1 billion in 2022 to ₦1.18 trillion in 2023.

NSIA disclosed this in its Audited Financial Results for 2023 Financial Year, which it issued at the weekend.

In the document signed by its Spokesperson, Joyce Onyegbula, NSIA said the 2023 FY Financial Results recorded 11 consecutive years of continuous positive earnings with a cumulative annual growth rate of 117.3 per cent, while net assets grew 119 per cent to ₦2.22 trillion from ₦1.02 trillion.

Also, its total comprehensive income closed at ₦1.18 trillion for 2023, a growth of 1,122 per cent relative to ₦96.96 billion in 2022.

Additionally, NSIA’s core total comprehensive income (excluding foreign exchange gains) rose from ₦21.39 billion in the previous year to ₦164.69 billion, marking a 670 per cent increase.

NSIA’s said the financial performance underscored the resilience of its investment strategy and the quality of its earnings, despite the challenging global macro-economic, and geo-political landscape.

The Managing Director and Chief Executive Officer, Mr. Aminu Umar-Sadiq said the organisation’s excellent results in 2023 and consistent positive performance over a decade offer further proof of its robust strategic asset allocation, proficient execution of infrastructure initiatives as well as effective risk management processes.

Umar-Sadiq further assured of the organisation’s commitment to creating shared prosperity for current and future generations of Nigerians.