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Nigeria s investment authority grows revenue by 343% to N160bn

Nigeriaâs investment authority grows revenue by 343% to N160bn The Nigeria Sovereign Investment Authority, manager of Nigeriaâs sovereign wealth fund, on Tuesday announced its audited results for 2020 financial year, reflecting a 343 per cent growth in income to N160bn. It said this was disclosed in its Audited Financial Results for 2020 Financial Year released in Abuja, adding that the growth was far higher than the N36.15bn recorded in the preceding year. NSIA said it ârecorded 343 per cent growth in total comprehensive income to N160.06bn in 2020 (previous year: N36.15bn)â. It stated that excluding devaluation gain of N51bn, it made a core income of N109bn compared to N33.07bn in 2019.

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Nigerian wealth funds record 33 3% assets growth in 2020

Nigerian wealth funds record 33.3% assets growth in 2020 Bloomberg Nigeria Sovereign Investment Authority, Abuja, recorded strong performance in 2020 despite the COVID-19 pandemic, with assets up 33.3%. The NSIA oversees three individual sovereign wealth funds: the Future Generations Fund, the Nigeria Infrastructure Fund and the Stabilization Fund. Total assets in the three funds grew 33.3% to 772.8 billion Nigerian naira ($2 billion), while total comprehensive income was 160.1 billion naira, up from 36.2 billion naira in 2019, an update said. The asset allocation strategy for NSIA is 50% in the Nigeria Infrastructure Fund, 30% in the Future Generations Fund and 20% in the Stabilization Fund, a spokesman said. The growth was achieved despite a $150 million withdrawal from the Stabilization Fund by the Federal Government of Nigeria. The fund performed well, despite low interest rates, the update said. Details on performance were not disclosed.

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Despite Pandemic, NSIA s Income Rises by 343% to N160bn

Obinna Chima in Lagos and Emmanuel Addeh in Abuja The Nigeria Sovereign Investment Authority (NSIA), manager of Nigeriaâs Sovereign Wealth Fund (SWF), yesterday announced its audited results for its 2020 financial year, reflecting a strong financial performance and consistent implementation of strategic infrastructure investment programmes for the year. The results showed that despite the challenges posed by the COVID-19 pandemic in the year under review, the NSIA recorded 343 per cent growth in its total income, which rose to N160.06 billion in 2020, up from the N36.15 billion in the previous year. Also, excluding devaluation gain of N51 billion, the NSIA made a core income of N109 billion compared to N33.07 billion in 2019.

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NSIA Open to Outside Investors for Innovation Fund, Plans Sukuk

NSIA Open to Outside Investors for Innovation Fund, Plans Sukuk
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NSIA assets grow by N193b as investment in foreign assets appreciates

Uche Orji, CEO, Nigeria Sovereign Investment Authority (NSIA) The Nigeria Sovereign Investment Authority (NSIA), yesterday, hinted that its net assets grew by N193.21billion in 2020, representing a 33 per cent increase over the N579.54 billion recorded in 2019. In its 2020 audited financial statement, the investment institution said it grew income from N36.15 billion in 2019 to N160.06 billion in 2020. NSIA attributed the performance to its investments in international capital markets, improved contributions from subsidiaries/affiliates and exchange gain from foreign currency positions. According to the financial report, NSIA recorded N109 billion as core income compared to N33.07 billion recorded in 2019, excluding devaluation gain of N51 billion.

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