The Nigeria Sovereign Investment Authority (NSIA) says it is committed to sustaining the diversified assets strategy for the country.
Speaking at the parley on NSIA’s audited results for 2022 financial year in Abuja on Thursday, Aminu Umar-Sadiq, managing director and chief executive officer of the NSIA, said the authority will continue to explore opportunities to mitigate risks and drive financial performance.
Umar-Sadiq said the assets of the investment agency recorded a 10.5 percent increase from the N919.73 billion recorded in 2021 based on the 2022 full-year audited results.
While noting that the NSIA recorded the 10th straight year of continuous positive earnings despite volatility and headwinds across global markets, he said the remarkable performance of the authority in 2022, shows its commitment to the growth and support for the country.
“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 said.
“We are in a fiduciary role for the people of Nigeria, current and future. We are guided by this every day as we recognise the urgent need to leverage the institution’s mandate and fund to support the country’s growth agenda.
“The results that we are presenting today are a continuation of the sterling foundation laid at the NSIA since inception. It is a legacy of achievement that we are sustaining and improving upon.
“We are committed to ensuring that Nigeria’s Sovereign Wealth Fund consistently ranks highly in the league of state-owned funds in terms of transparency, governance, and performance.
“Our foray into some new terrains underscores our resolve to ensure that optimal returns are generated through responsible investing.
“For emphasis, we have on behalf of the present and future generations expanded our focus sectors to include climate finance, renewable energy, innovation, and technology.
“This is in addition to the priority sectors we had maintained over the years namely agriculture, motorways, power, healthcare, and gas industrialisation.”
Speaking further, Umar-Sadiq said NSIA will continue to drive direct investments in core areas such as healthcare, toll roads, gas industrialisation, technology, ESG, financial markets infrastructure, power, and agriculture.
“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.
