The Nigeria Sovereign Investment Authority (NSIA) has recorded significant growth in its net assets for the 2024 financial year, nearly doubling despite global economic uncertainties.
In a statement signed by NSIA’s Head of Corporate Communications, Joyce Onyegbula, the authority reported that net assets rose by 96% to N4.35 trillion as of December 2024, compared to N2.22 trillion in December 2023.
The increase reflects NSIA’s strong investment strategy, which leveraged a diversified revenue base and sound risk management practices. The authority also maintained profitability for the 12th consecutive year, with cumulative retained earnings reaching N3.74 trillion by the end of 2024.
The statement highlighted that NSIA’s total operating profits, excluding share of profits from associates and joint ventures, increased from N1.17 trillion in 2023 to N1.86 trillion in 2024. This growth was credited to strong investment portfolio performance and strategic financial positioning.
Additionally, the authority’s Total Comprehensive Income, which includes profits from associates and joint ventures, reached N1.89 trillion in 2024, marking a 59% rise from N1.18 trillion in 2023.
NSIA attributed this financial performance to strong returns on financial assets measured at fair value through profit and loss, including collateralised securities, private equity, hedge funds, and exchange-traded funds.
Managing Director and CEO, Aminu Umar-Sadiq, described the results as a reflection of strategic vision and disciplined execution. He stated that NSIA’s success was driven by innovation, strategic partnerships, and sound risk management, leading to strong returns and long-term value creation.
“As we move forward, we remain focused on driving economic transformation, expanding opportunities, scaling transformative impact, and ensuring long-term prosperity for Nigerians,” Umar-Sadiq added.
The statement also noted that a new Board, chaired by Olusegun Ogunsanya, was appointed in 2024 by the President in accordance with the NSIA Act. The Board is expected to provide strategic direction and oversight in key decision-making processes.
NSIA reaffirmed its commitment to managing Nigeria’s sovereign wealth prudently, ensuring transparency, and effectively engaging stakeholders. It aims to continue supporting economic stability, infrastructure development, and savings for future generations.
