NSIA Opts For High-impact Projects To Enhance Earnings

Nigeria Sovereign Investment Authority (NSIA) has announced plans to venture into more impactful projects in 2025 to improve income growth, operationalise subsidiaries, and ensure stable cost-income ratio and operational excellence.

“We target high-impact projects that transform critical sectors of economic growth including initiatives like Kasi Data Center, NG-Clearing, and the Multi-purpose Industrial Platform (MIPL),” managing director and chief executive officer of NSIA Aminu Umar-Sadiq stated at a media briefing on the NSIA 2024 earnings yesterday in Abuja.

The Authority said it is moving from the building of one Oncology Centre co-located in Lagos, and two Diagnostic Centres co-located in Aminu Kano as well as FMC Umuahia to four, and 12, respectively.

NSIA has recorded positive returns consistently since the last 12 years. Details of the 2024 earnings that were released yesterday showed that the organisation’s net assets grew from N156 billion ($1 billion) in 2013 to N4.354 trillion ($2.84 bn) in 2024.

The MD said NSIA has also committed over $500million in domestic infrastructure funding; catalysed over $1billion in third-party investment; recorded robust infrastructure investment portfolio across key sectors such as agriculture, healthcare and power and invested in over 50 per cent of locally owned and run private equity (PE) funds. The Authority also developed/co-developed over 10 institutions and platforms to improve the financial market ecosystem

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Its operating income grew to N1.853billion, a 58 per cent in 2024 from N1.176 in 2023, while profit after tax rose from N1.185 billion in 2023 to N1.886 billion (59 per cent). Total assets increased by 96 per cent to N4.42 trillion in December 2024 from N2.26 trillion in December 2023 reflecting steady asset growth aligned with equity strength.

“Strategic Eurobond investments and capital acquisition have bolstered financial position,” he stated, adding that net assets growth of 15 per cent in USD from $2.47 bn in Dec-23 to close at $2.84 billion in December 2024 and 96 per cent (N4.354 trillion. vs N2.222 trillion.) in Naira by December 2024 attributed to well-diversified investments and improved yields.

Umar-Sadiq stated that NSIA attracts domestic and international capital to bridge funding gaps and unlock large-scale investments in critical sectors in 2024 through vehicles like Green Guarantee Company (GGC) and InfraCredit, leveraging strategic partnerships and innovative financing tools.

“We build and invest in funds that foster innovation and support long-term infrastructure growth including, Carbon Vista, Renewables Investment Platform for Limitless Energy (RIPLE), the Nigeria Infrastructure Debt Fund (NIDF), and Africa Plus Partners.

We empower SMEs with patient capital and support to drive innovation, job creation, and economic diversification via platforms such as Development Bank of Nigeria (DBN), Fund for Agricultural Finance in Nigeria (FAFIN), and the Presidential Fertiliser Initiative (PFI),” he stated.

For over a decade, NSIA says it successfully built and nurtured a diverse portfolio of subsidiaries across various sectors that contribute meaningfully to the national economy. “Our approach is rooted in strong governance, robust risk management, and a strong operational focus. These have enabled us to optimise performance while adhering to our long-term strategic objectives.”