THE manager of Nigeria’s sovereign wealth fund, the Nigeria Sovereign Investment Authority, grew its net assets by 10 per cent from N919.73bn in 2021 to N1.02tn in the 2022 financial year.
This was disclosed in its audited results for the 2022 financial year, which was released on Thursday.
The highlights of NSIA’s activities and performance during the period under review also showed that it recorded its 10th year of continuous positive earnings in spite of volatility across markets.
In its 2022 report, the earnings of the NSIA Group was N96.96bn, a 34 per cent dip compared to N146.98bn recorded in 2021.
The organisation attributed the decrease to the performance of its Future Generations and Stabilisation portfolios that are invested in emerging and developed financial market instruments.
On the other hand, its interest income, revenue from infrastructure business, and management fees earned from fiduciary activities increased by 34.5 per cent (N15.7bn) year-over-year.
The Managing Director and Chief Executive Officer, Aminu Umar-Sadiq, said the performance was recorded despite the challenges in the operating environment.
He said, “Against market expectations and internal forecast, NSIA closed the 2022 financial year with a respectable performance. This result underscores the robustness of our diversified portfolio, and the excellent commitment of the team.”
