The manager of Nigeria’s sovereign wealth fund, the Nigeria Sovereign Investment Authority, grew its net assets by 10 per cent from N919.73bn in 2021 to N1.02tn in the 2022 financial year.
He said, “Against market expectations and internal forecast, NSIA closed the 2022 financial year with a respectable performance. This result underscores the robustness of our diversified portfolio, and the excellent commitment of the team.”
“As we look to the future, NSIA is resolute in its commitment to delivering increased investments in critical sectors of the economy, driving growth across its funds, and attracting third-party capital into Nigeria’s infrastructure sector.
The nation’s sovereign wealth manager said that the 2022 fiscal year was marked by unprecedented shocks, such as the COVID-19 lockdown in China, the Russia-Ukraine conflict, food and energy crises, supply-chain disruptions, soaring inflation, and monetary policy tightening, which impacted the financial markets.
In 2022, NSIA said that it reached a significant milestone in implementing its infrastructure strategy by delivering key projects. These projects cut across core sectors of focus and the implementation of specialised federal government initiatives. They include projects in the agriculture sector; the Presidential Fertiliser Initiative; the opening of the Pandagric Novum farm, a joint venture between NSIA and Signature Agri Investment for the cultivation of maize and soybeans and connected to a 147,000 metric tons per annum capacity poultry feed mill.All rights reserved.
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NSIA grows net assets by 10.5 per cent to N1.02tnManager of Nigeria’s sovereign wealth fund, the Nigeria Sovereign Investment Authority, grew its net assets by 10 per cent from ₦919.73bn in 2021 to ₦1.02tn in the 2022 financial year.
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