NSIA grows assets to N1trn in 2022 financial year

The Nigeria Sovereign Investment Authority (NSIA), manager of Nigeria’s sovereign wealth fund, has announced that its total assets grew to N1.02trn in 2022 up from the N919.73bn recorded in 2021. The agency said the growth was 10.5 per cent. In a statement Friday,  it noted that its audited results for the 2022 financial year indicated […]

The Nigeria Sovereign Investment Authority (NSIA), manager of Nigeria’s sovereign wealth fund, has announced that its total assets grew to N1.02trn in 2022 up from the N919.73bn recorded in 2021.

The agency said the growth was 10.5 per cent.

In a statement Friday,  it noted that its audited results for the 2022 financial year indicated that a comprehensive income of N96bn in 2022 was made, representing a decline of 34 per cent relative to 147bn in 2021.

This, it stated, was due to strong macroeconomic headwinds, adding that the agency was able to outperform most global investment benchmarks and indices to deliver a respectable performance.

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The managing director and chief executive officer of the NSIA, Aminu Umar-Sadiq, noted that the performance was recorded despite the challenges in the operating environment.

He said, “Against market expectations and internal forecast, the 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.”