• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 30, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

NSIA Commits $500m To Boost Infrastructure Devt

Says it enabled over $1bn third-party investments

by Leadership News
2 years ago
in News
Share on WhatsAppShare on FacebookShare on XTelegram

 

Advertisement

The Managing Director & Chief Executive Office, Nigeria Sovereign Investment Authority (NSIA), Mr Aminu Umar-Sadiq, has disclosed that the Authority has committed $500 million to domestic infrastructure, while also enabling third-party investments of over $1billion.

He said this at an investigative hearing held on Tuesday by the Ad-hoc Committee constituted by the House of Representatives to investigate the activities of the NSIA since inception.

He explained that the NSIA belongs to the three tiers of government consisting the federal government, state government, local government, including the FCT and its Area Councils.

He further reiterated that the NSIA has a robust infrastructure investment portfolio covering several critical sectors such as agriculture, healthcare, financial infrastructure, technology, innovation, and power.

RELATED

‘It’s Inspiring Moment,’ Says Nigerian Student After Meeting Tinubu In Saint Lucia

‘It’s Inspiring Moment,’ Says Nigerian Student After Meeting Tinubu In Saint Lucia

10 minutes ago
Tinubu, Saint Lucia PM Seal Plan For Diplomatic Ties

Tinubu, Saint Lucia PM Seal Plan For Diplomatic Ties

10 minutes ago

Additionally, he disclosed that the Authority has also developed institutions and platforms to improve the financial market ecosystem within the country.

He said the Authority developed a 10MW solar power project, which was expected to facilitate the creation of over 500 direct and indirect jobs.

Furthermore, through its participation within the housing sector, over 13,000 affordable housing units were under construction in different states of the Federation.

Within the agricultural sector, the NSIA has supported over 236,000 farmers in different Agric projects. Under the Presidential Fertiliser Initiative (‘PFI’) the Authority has facilitated the production of 3.8 million Metric Tons of fertiliser to farmers nationwide, with 72 blending plants currently in operation across Nigeria, he added.

Umar-Sadiq also stated that the net assets of the Authority grew from N156 billion in 2013, to N1. 017 trillion at the end of 2022, and has remained profitable over the last 10 years of operation, with yearly audits performed by Independent Auditors.

He also mentioned that the net contribution has grown from the initial $1 billion to the current Net asset value of $2.27 billion as at December 2022.

Also speaking, Lateef Shittu, the representative of the Director General, of the Nigeria Governors Forum (NGF), said that local governments were notable stakeholders who were accounted for together with the State Government and represented a significant holding of the fund.
Shittu affirmed the collaboration of the Governors Forum with the NSIA, saying they were satisfied with the level of interactions and were clear about the objectives of the Authority in relation to its projects and impact on the nation.

He disclosed that in 2022, the governors requested a presentation on the operations of the NSIA from the management, adding that “we are satisfied with the presentation and what was being done”.

He reiterated that, “every single project executed by the NSIA is located within a local government, so they are beneficiaries of the NSIA projects.”

The Chairman of the Ad-hod Committee, Hon. Ademorin Kuye, said the objective of the investigative hearing was to ensure that the statutory provisions of the law establishing the Authority were adhered to.

He stated that the House wants to be able to have answers to questions from Nigerians on how the funds of the agency were being managed, adding that if the need arises, the committee would visit sites of projects being handled by the Authority to ensure value for money.

The Committee commended management and staff for the detailed responses that were provided, which alludes to its high level of governance and transparency.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


SendShareTweetShare
Previous Post

Oxfam, Development Partners Encourage Young Nigerians

Next Post

Tobi Amusan Begins Title Defence In Budapest With 100m Heat Win

Leadership News

Leadership News

You May Like

‘It’s Inspiring Moment,’ Says Nigerian Student After Meeting Tinubu In Saint Lucia
News

‘It’s Inspiring Moment,’ Says Nigerian Student After Meeting Tinubu In Saint Lucia

2025/06/30
Tinubu, Saint Lucia PM Seal Plan For Diplomatic Ties
News

Tinubu, Saint Lucia PM Seal Plan For Diplomatic Ties

2025/06/30
June 12: Dangiwa Umar Reacts To National Honour By Tinubu, Reveals 38 Other ‘Unsung Heroes’
News

June 12: Dangiwa Umar Reacts To National Honour By Tinubu, Reveals 38 Other ‘Unsung Heroes’

2025/06/30
Meet Top 20 Nigerian Techies Driving Innovations In 2025
Feature

Meet Top 20 Nigerian Techies Driving Innovations In 2025

2025/06/30
Abia Polls: Igbokwe Distances Self From Petition Against Reps’ Deputy Speaker Kalu
News

Kalu Seeks Debt Cancellation To Ease Africa’s Burden

2025/06/30
ICPC To Appeal Ruling On Yuguda’s Ex-Aide’s Case
News

Aviation Ministry Worker Convicted Over Employment Fraud

2025/06/29
Leadership Conference advertisement

LATEST

‘It’s Inspiring Moment,’ Says Nigerian Student After Meeting Tinubu In Saint Lucia

Tinubu, Saint Lucia PM Seal Plan For Diplomatic Ties

June 12: Dangiwa Umar Reacts To National Honour By Tinubu, Reveals 38 Other ‘Unsung Heroes’

Meet Top 20 Nigerian Techies Driving Innovations In 2025

Kalu Seeks Debt Cancellation To Ease Africa’s Burden

Aviation Ministry Worker Convicted Over Employment Fraud

Police Arrest Arrowhead Of Child Theft Syndicate, Rescue 12 Minors 

Abakaliki FC In Minor Road Accident After Federation Cup Defeat

CWC: PSG Thrash Lionel Messi’s Inter Miami 4-0, Advance To Quarterfinals

Soldiers Kill Terrorist Kingpin Mai Dada, Recover Weapons

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.