The Nigeria Sovereign Investment Authority (NSIA) has announced a cumulative N3.74 trillion in retained earnings as of 2024, marking over a decade of consistent profitability.
These retained earnings represent reinvested profits, strengthening NSIA’s financial position rather than being distributed as dividends.
Strong Financial Performance in 2024
According to Joyce Onyegbula, NSIA’s Head of Corporate Communications, the 2024 fiscal year saw a significant rise in earnings:
Operating profits surged from N1.17 trillion (2023) to N1.86 trillion (2024)
Total Comprehensive Income (TCI) rose 59% to N1.89 trillion
Core TCI (excluding FX and derivative gains) soared 148%, reaching N407.9 billion
NSIA attributed this success to its diversified investment strategy, including:
Infrastructure assets
Foreign exchange gains
Private equity and hedge funds
Collateralized securities and ETFs
Net Assets Almost Double in One Year
The Authority’s Net Assets grew from N2.22 trillion in December 2023 to N4.35 trillion in December 2024, a testament to strong financial management.
Leadership and Strategic Direction
Under the leadership of Managing Director and CEO, Aminu Umar-Sadiq, NSIA has remained committed to long-term economic transformation and stakeholder value creation.
Additionally, a new Board of Directors, chaired by Olusegun Ogunsanya, was appointed by President Bola Ahmed Tinubu, aligning with the NSIA Act to strengthen governance.
Future Focus: Economic Growth and Transparency
NSIA reaffirmed its commitment to prudent investment, prioritizing:
Risk-adjusted financial returns
Large-scale infrastructure projects
Transparency and effective stakeholder communication
Despite global economic uncertainties, NSIA’s resilient investment strategy continues to drive Nigeria’s economic and social development.
