Nigeria Sovereign Investment Authority Achieves Remarkable Growth, Posts N4.35tn in Net Assets

The Nigeria Sovereign Investment Authority (NSIA) has announced its audited financial results for the 2024 fiscal year, revealing a significant 96% surge in net assets to N4.35 trillion. This substantial growth underscores the authority’s effective investment strategy, diversified revenue streams, and robust risk management framework.
According to a statement by Joyce Onyegbula, NSIA’s Head of Corporate Communications, the authority’s net assets nearly doubled, increasing by 96% to N4.35 trillion as of December 2024, compared to N2.22 trillion in December 2023.
NSIA’s impressive financial performance is attributed to its well-diversified investment portfolio, strategic infrastructure investments, foreign exchange fluctuations, and positive derivative valuations. The authority maintained profitability for the 12th consecutive year, recording cumulative retained earnings of N3.74 trillion by the end of 2024.
Key highlights of NSIA’s financial performance include:
Total operating profit, excluding earnings from associated firms and joint ventures, rose significantly from N1.17 trillion in 2023 to N1.86 trillion in 2024.
Total Comprehensive Income (TCI), including profits from joint ventures and associates, increased by 59% to N1.89 trillion in 2024, up from N1.18 trillion in 2023.
Core TCI, adjusted to exclude foreign exchange and derivative valuation gains, rose sharply by 148% to N407.9 billion in 2024, compared to N164.7 billion the previous year.
The authority’s improved financial results were largely driven by high returns on financial assets, including collateralized securities, private equity investments, hedge funds, and exchange-traded funds.
Aminu Umar-Sadiq, NSIA’s Managing Director and Chief Executive Officer, attributed the organization’s success to its strategic vision, disciplined execution, and dedication to sustainable economic development.
“Our outstanding financial performance in 2024 reflects our commitment to innovation, strategic partnerships, and sound risk management. We have delivered strong returns and created significant value for our stakeholders,” Umar-Sadiq stated.
Looking ahead, NSIA reaffirmed its commitment to managing Nigeria’s sovereign wealth prudently, ensuring transparency, and maintaining open communication with stakeholders. The authority remains dedicated to creating long-term value through a well-structured investment portfolio and major infrastructure projects.
Under the leadership of its new Board of Directors, chaired by Olusegun Ogunsanya, NSIA is poised to drive economic transformation, expand opportunities, and ensure long-term prosperity for Nigerians.