The Nigeria Sovereign Investment Authority (NSIA) has announced its audited financial results for the 2024 fiscal year, showcasing a resilient investment strategy that yielded impressive earnings despite prevailing global macroeconomic and geopolitical challenges.
According to the audited report released on Monday, NSIA recorded its 12th consecutive year of profitability, amassing cumulative retained earnings of N3.74 trillion by the end of 2024.
The Authority’s total operating profits, excluding earnings from associates and joint ventures, surged from N1.17 trillion in 2023 to N1.86 trillion in 2024.
The remarkable growth was attributed to NSIA’s diversified investment portfolio, strong infrastructure assets, and gains from foreign exchange movements and derivative valuations.
The financial report also highlighted a 59% rise in Total Comprehensive Income (TCI), which reached N1.89 trillion in 2024, compared to N1.18 trillion in the previous year.
The Core TCI, which excludes foreign exchange and derivative valuation gains, soared by 148% to N407.9 billion in 2024 from N164.7 billion in 2023, reflecting robust returns on financial assets such as collateralized securities, private equity, hedge funds, and exchange-traded funds (ETFs).
NSIA’s net assets nearly doubled, rising by 96% from N2.22 trillion in December 2023 to N4.35 trillion as of December 2024. These figures underscored the Authority’s strong financial health and effective fund management.
Commenting on the performance, NSIA’s managing director and chief executive officer, Aminu Umar-Sadiq, expressed confidence in the Authority’s strategic direction.
“The Authority’s outstanding financial performance in 2024 reflects the strength of our strategic vision, disciplined execution, and unwavering commitment to sustainable socio-economic advancement. By leveraging innovation, strategic partnerships, and sound risk management, we have not only delivered strong returns but also created value for our stakeholders,” he stated.
As part of its strategic restructuring, NSIA witnessed the appointment of a new Board in 2024, led by chairman, Mr. Olusegun Ogunsanya. The Board was constituted in accordance with the NSIA Act, and its primary role is to provide oversight, guide strategic decision-making, and ensure effective governance.
Under the guidance of the new leadership, NSIA reaffirmed its commitment to its core mandate—prudent management of Nigeria’s sovereign wealth, transparency, and sustainable investment. The Authority operates three mandate funds: the Stabilisation Fund, the Future Generations Fund, and the Nigeria Infrastructure Fund.
The funds are designed to support economic stability, ensure future financial security, and drive large-scale infrastructure development across the country.
Looking ahead, NSIA pledged to continue its mission of fostering long-term economic transformation by expanding opportunities, enhancing impact-driven projects, and ensuring Nigeria’s financial resilience.
The Authority remained poised to deliver exceptional risk-adjusted financial returns while simultaneously contributing to the nation’s economic advancement.
With its impressive 2024 financial performance, NSIA has reinforced its reputation as a cornerstone institution for Nigeria’s fiscal sustainability, economic development, and infrastructure transformation.
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