The Nigeria Sovereign Investment Authority (NSIA) net assets grew 119 percent to ₦2.22 trillion in December 2023 from ₦1.02 trillion recorded by end of December 2022.
It also recorded 11 consecutive years of continuous positive earnings with a cumulative annual growth rate of 117.3 per cent.
The NSIA announced this in its audited financial results for 2023 financial year in Abuja, noting that the financial performance underscores the resilience of the NSIA’s investment strategy and the quality of its earnings, despite the challenging global macro-economic, and geo-political landscape.
The NSIA highlighted that its total operating income increased from ₦101.1 billion in the previous year to ₦1.18 trillion, inclusive of foreign exchange gains during the period under review.
It attributed this significant rise to the positive performance of the equities and fixed-income portfolios, as well as the positive performance of NSIA’s infrastructure investments.
Total comprehensive income closed at ₦1.18 trillion for 2023, indicating a growth of 1,122 per cent relative to ₦96.96 billion in 2022.
NSIA’s core total comprehensive income, excluding foreign exchange gains, rose from ₦21.39 billion in the previous year to ₦164.69 billion, marking a 670 per cent increase attributable to the Authority’s robust strategic asset allocation and adherence to best-in-class enterprise risk management processes.
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The Managing Director & Chief Executive Officer, Mr. Aminu Umar-Sadiq remarked, “Our excellent results in 2023 and consistent positive performance over a decade offer further proof of our robust strategic asset allocation, proficient execution of our infrastructure initiatives as well as effective risk management processes.
The NSIA said it is poised to continually create long-term value for its stakeholders by delivering excellent risk-adjusted financial results, developing a healthy and well-diversified portfolio of assets and infrastructure projects, and enhancing the desired social outcomes in Nigeria.
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