BY FESTUS OKOROMADU, ABUJA
The total assets of Nigeria Sovereign Investment Authority rose by 10.5 percent from N919.73 billion in 2021 to N1.02 trillion for the financial year ended December 31, 2022.
Earnings interest income, infrastructure business revenues, and management fees earned from fiduciary activities, increased by 34.5 percent to N15.7 billion year-over-year.
Total comprehensive income stood at N96.96 billion in 2022, representing a decline of 34 percent compared to N147.98 billion in 2021.
The NSIA attributed the decline to strong macroeconomic headwinds.
The government investment outfit explained that although its earnings are lower than that of 2021, it remained confident in its investment strategy and would continue to explore opportunities to mitigate risks and achieve its investment objectives.
Commenting on the result, Managing Director and Chief Executive, NSIA, Aminu Umar-Sadiq, said the performance was recorded despite the challenges in the operating environment.
“Against market expectations and internal forecasts, 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.
“In 2023, we will be resourcing our various platforms targeted at emerging sectors – renewable energy, sustainability, innovation, and healthcare – which will ensure the Authority achieves its dual objectives of delivering financial returns and impactful social outcomes,” he said.
