NSIA Reports 12 Years of Profitability, Retained Earnings Reach N3.74tr
By Patience Ikpeme
The Nigeria Sovereign Investment Authority (NSIA) has maintained its profitability for twelve consecutive years, resulting in cumulative retained earnings of N3.74 trillion by the end of 2024.
Total operating profits, excluding profits from associates and Joint Venture (JV) entities, increased from N1.17 trillion in 2023 to N1.86 trillion in 2024. This growth is attributed to the strong performance of NSIA’s diversified investment portfolio, infrastructure assets, gains from foreign exchange movements, and derivative valuations.
Total Comprehensive Income (TCI), including profits from associates and JV entities, reached N1.89 trillion in 2024, a 59% increase from N1.18 trillion in 2023.
Core TCI (excluding foreign exchange and derivative valuation gains) rose by 148% to N407.9 billion in 2024, compared to N164.7 billion in 2023. This increase is supported by strong returns on financial assets measured at fair value through profit and loss, including collateralized securities, private equity, hedge funds, and Exchange-Traded Funds (ETFs).
Net Assets nearly doubled, increasing by 96% to N4.35 trillion as of December 2024, from N2.22 trillion in December 2023.
Managing Director and Chief Executive Officer, Mr. Aminu Umar-Sadiq, stated, “The Authority’s outstanding financial performance in 2024 reflects the strength of our strategic vision, disciplined execution, and unwavering commitment to sustainable socio-economic advancement.
“By leveraging innovation, strategic partnerships, and sound risk management, we have not only delivered strong returns but also created value for our stakeholders. As we move forward, we remain focused on driving economic transformation, expanding opportunities, scaling transformative impact, and ensuring long-term prosperity for current and future generations of Nigerians.”
In the 2024 financial year, a new Board, led by Chairman Mr. Olusegun Ogunsanya, was appointed by the President, as per the NSIA Act. The new Board will provide strategic direction and oversight, playing a key role in critical decision-making.
Under the Board’s guidance, the Authority will continue to focus on its primary mandate of creating shared value for all stakeholders, maintaining corporate governance practices.
NSIA remains committed to the prudent management and investment of Nigeria’s sovereign wealth. In accordance with its Establishment Act, NSIA prioritizes transparency, disclosure, and effective communication with all stakeholders and counterparties.
The Authority will continue to manage Nigeria’s sovereign wealth fund and fulfill the mandates of the NSIA Act. NSIA is dedicated to creating long-term value for its stakeholders by delivering strong risk-adjusted financial results, developing a diversified portfolio of assets and infrastructure projects, and enhancing social outcomes in Nigeria.
“These results underscore the resilience of NSIA’s investment strategy and the strength of its earnings, driven by a well-diversified revenue base and robust risk management practices, despite a challenging global macroeconomic and geopolitical environment” the statement read.
