The Managing Director/Chief Executive, Nigeria Sovereign Investment Authority (NSIA), Mr. Aminu Umar-Sadiq, on Wednesday disclosed that the authority has committed a total sum of $10.33 billion to stimulate economic activities in various sectors of the economy.
He also said its operations had created over 245,000 direct and 200,000 indirect jobs across various sectors.
Speaking at a media engagement on the NSIA 2024 earnings presentation in Abuja, Umar-Sadiq also said over 236,000 farmers have been supported through its various agriculture investments, adding that 68 per cent of the beneficiaries were youths of which 50 per cent were female.
He revealed that three hospital projects undertaken by the authority served over 282,100 patients, including 150,000 chemotherapy sessions.
He added that so far over 3,500 youths had received formal education through partnered educational institutions while the authority has 13,504 affordable houses under construction to address current housing deficits.
Furthermore, the NSIA boss said it supported several communities through CSR activities, particularly in the development of social infrastructure, out grower programmes among others.
He said it developed a 10MW solar project with over 500 jobs to be created directly and indirectly.
According to him, the authority, through its operations, provided economic stimulus to various sectors of the economy including agriculture $7.5 billion, motorways $1.8 billion, financial market, $695 million, gas industrialisation $274 million, healthcare, $42 million, and power $22.5 million.
He said through its operations and investments, the authority has generated positive social and economic nationwide impact and contributed towards the attainment of key SDGs for the country.
NSIA recently announced that its net assets increased by 96 per cent to N4.35 trillion in December 2024, nearly doubling the N2.22 trillion recorded in 2023.
Furthermore, Umar-Sadiq said over $500 million was committed to domestic infrastructure development, adding that the authority remained a leader in sustainability and preferred green partner of choice.
He also revealed that NSIA catalysed over $1 billion in third-party investment within the financial year under review, amid a robust infrastructure investment portfolio across key sectors including agriculture, healthcare and power.
He also said the authority invested in over 50 per cent of locally owned and run private equity (PE) funds.
He said Total Comprehensive Income (TCI) was buoyed by improved performance on fair value gains from externally managed investments due to market recoveries.
He added that increased earnings from eurobonds, and fixed deposits commercial papers helped to boost sustainable earnings in 2024.
The NSIA boss also assured that irrespective of the various challenges in the macroeconomy, particularly the impact of the global trade war stoked by President Donald Trump – this is unlikely to affect the authority’s stable income growth based on its strategic assets’ allocation including the Stabilisation and Future Generations Funds, which are defensive.
He said, “If you look at the mandate of our Sovereign Wealth Fund, it is largely a savings mandate. So, irrespective of the ongoings on the macro-side, based on our strategic assets’ allocations, you’ll see stable income growth.”
James Emejo
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