Government’s total contributions into the operations of the Nigeria Sovereign Investment Authority (NSIA) in the last eight years stood at $1.82 billion in 2024.
The funds, which were injected at different intervals of the Authority’s operations effective 2013 when it became operational, grew to about $2.84 billion as of December 2024, Managing Director/Chief Executive Officer of NSIA, Mr. Aminu Umar-Sadiq, said yesterday at an interactive session with the media on the 2024 operations of the Authority. This was as he put the amount invested by the agency in domestic infrastructure space at $500 million.
Sadiq said within a space of eight years, NSIA’s assets had grown from $1 billion in 2013 to $3 billion last year, saying the Authority had undertaken various investments on behalf of federation through its three distinct funds- the Stabilisation Fund, the Future Generations Fund, and the Nigeria Infrastructure Fund.
The Stabilisation Fund provides budget support during economic hardship, while the Future Generations Fund is an intergenerational savings plan. The Nigeria Infrastructure Fund focuses on investing in domestic infrastructure projects.
He said: “We have received eight separate contributions by the government, as well as withdrawal on balance. We have received $1.82 billion through a combination of our investment activities. “We have grown that amount to about $2.84 billion as of December 2024.
As I mentioned earlier, governance, sustainability, accountability, transparency continue to be our watchword. Not only because it’s the right thing to do, but also it is the most comfortable thing to do, as we will highlight subsequently.
“Over the last decade, we have successfully, across our three funds, invested in over 150 propositions, both on the infrastructure side as well as the future generation side.
“By law, we have three separate ring-fenced funds. We have a stabilisation fund that offers stabilisation support during times of economic unrest.
We have a future generation fund, which is a long-term fund that invests in a combination of growth and financial assets on behalf of future generations of Nigerians.
And we have, of course, the Nigeria Infrastructure Fund, where we make investments in the domestic infrastructure space. “
