The Nigeria Sovereign Investment Authority (NSIA) has said it grew Nigeria’s assets under its custody by 10.5 per cent to reach N1.02 trillion despite market volatility due to effective management and creativity in investments.
Speaking during a parley with editors and bureau chiefs of media organisations on Thursday in Abuja, the Managing Director and CEO of NSIA, Aminu Umar-Sadiq, said this is to ensure the company is ranked highly in the league of state-owned funds.
‘Despite the VUCA (volatile, uncertain, complex, and ambiguous) nature of the markets in 2022, we continue to post positive earnings through effective management of the resources entrusted in our care coupled with the deft and harmonious working relationship of the board, executive management, and partner institutions.”
Umar-Sadiq noted that foray into some new terrains underscored its resolve to ensure that optimal returns are generated through responsible investing.
He disclosed that some of the sterling records it made in the 2022 financial year included a ten straight year of continuous positive earnings; increased by 34.5% to N15.7 billion year-on-year growth of earning from interest income, infrastructure business revenue among others.
He however said its total comprehensive income closed at N96.9bn, a decline of 34.0% relative to N147.98bn in 2021.
He stated that the reduction in the group earnings in 2022 was primarily attributable to the decline in the performance of the Future Generations and Stabilisation funds invested in emerging and developed financial market instruments.
He added that the company since inception has invested in 514 kilometres of road while creating over 240,000 jobs across all sectors of the economy and 315 indirect jobs with 13,504 houses under construction.