The Nigeria Sovereign Investment Authority (NSIA) has invested a total of $10.33 billion across various sectors of the economy to stimulate economic growth and development.
Managing Director and Chief Executive of the NSIA, Mr. Aminu Umar-Sadiq, disclosed this during the 2024 earnings presentation held in Abuja on Wednesday. He stated that the authority’s interventions have created over 245,000 direct and 200,000 indirect jobs across key sectors.
Umar-Sadiq noted that more than 236,000 farmers have benefited from NSIA’s agricultural initiatives, with 68 per cent of the beneficiaries being youths and 50 per cent women. He added that the authority’s healthcare investments have positively impacted over 282,000 patients, including the provision of 150,000 chemotherapy sessions across three hospital projects.
In education, over 3,500 youths have received formal training through partnerships with academic institutions, while 13,504 affordable housing units are currently under construction to address the country’s housing deficit.
He also highlighted NSIA’s contributions to community development through corporate social responsibility (CSR) projects, including out-grower programmes and infrastructure initiatives. Among these is a 10MW solar power project expected to generate over 500 jobs.
Breakdown of the $10.33 billion investment shows allocations across key sectors: agriculture ($7.5 billion), motorways ($1.8 billion), financial markets ($695 million), gas industrialisation ($274 million), healthcare ($42 million), and power ($22.5 million).
The NSIA boss said the investments have contributed significantly to Nigeria’s progress towards achieving the Sustainable Development Goals (SDGs).
According to him, the authority’s net assets surged by 96 per cent to N4.35 trillion in December 2024, up from N2.22 trillion recorded in 2023. He further disclosed that over $500 million was committed to domestic infrastructure development, while NSIA attracted over $1 billion in third-party investments during the financial year.
Umar-Sadiq said the authority has invested in more than half of locally owned private equity funds, reinforcing its commitment to domestic economic growth. He added that Total Comprehensive Income (TCI) was driven by strong performance from externally managed investments, increased earnings from Eurobonds, fixed deposits, and commercial papers.
Despite global macroeconomic challenges, including the lingering effects of international trade tensions, Umar-Sadiq assured that the NSIA’s strategic asset allocations—particularly the Stabilisation Fund and the Future Generations Fund—will continue to support stable income growth.
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 asset allocations, you’ll see stable income growth.
