Buhari inaugurates NSIA board

President Muhammadu Buhari Wednesday inaugurated new board of the Nigeria Sovereign Investment Authority (NSIA).

At the brief ceremony for the inauguration of the third Board of the NSIA at the State House, Abuja, President Buhari tasked them to make more investments that support economic diversification, as global oil prices were projected to drop to around $40 per barrel by 2030.

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The said the full impact of most of the strategic projects started under his watch would only be felt long after he had left office.

He described the appointment of the 9-man board as a call to duty, action and performance, adding that they were eminently qualified for the job.

“On the public sector partnership, we are working with the NSIA on strategic infrastructure projects such as the Second Niger Bridge, the Lagos – Ibadan Express Way and the Abuja – Kano Road, to mention a few.

“On the private sector collaborations, we have projects such as the Presidential Fertiliser Initiative, the Presidential Artisanal Gold Mining Initiative and the NSIA Healthcare Development and Investment Company amongst many.

“Although these projects and programmes have immediately created jobs from a development standpoint, the wider impact on society will only be felt in years to come,” the President said in a statement issued by his spokesman, Femi Adesina.

In her remarks, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said from the base position of $1 billion when the Administration assumed office in 2015, NSIA now has around $3.5bn in assets under management.