The Nigeria Sovereign Investment Authority (NSIA) has announced its audited results for 2023 financial year, posting comprehensive income of N1.18 trillion for 2023, a growth of 1,122 per cent relative to N96.96 billion in 2022.
The Authority said in a statement that the financial performance underscores its resilience in investment strategy and the quality of its earnings, despite global macro-economic, and geo-political challenges.
NSIA’s net assets grew 119 percent to N2.22 trillion as of December 2023 from N1.02 trillion in December 2022.
The financial statement showed that NSIA’s total operating income increased from N101.1 billion in the previous year to N1.18 trillion, inclusive of foreign exchange gains during the period.
“This significant rise was attributed to the positive performance of the equities and fixed-income portfolios, as well as the positive performance of NSIA’s infrastructure investments,” its head of corporate communications, Joyce Onyegbula said.
Its core total comprehensive income (excluding foreign exchange gains) rose from N21.39 billion in the previous year to N164.69 billion, marking a 670 per cent increase attributable to the Authority’s strategic asset allocation and adherence to best-in-class enterprise risk management processes.
The managing director & chief executive officer of NSIA, 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.
“We remain firmly committed to catalysing positive socio-economic outcomes through critical infrastructure investments; strategic partnerships that expand our impact across pivotal sectors; and solutions that not only deliver our mandate but simultaneously uphold environmental stewardship.
Looking ahead, we re-affirm our focus on creating shared prosperity for current and future generations of Nigerians.”