The Nigeria Sovereign Investment Authority (NSIA) has generated approximately N3.74 trillion in revenue as of the end of 2024, marking 12 consecutive years of profitability. This was disclosed in its audited financial results for the 2024 financial year, released yesterday in Abuja.
According to NSIA, this milestone highlights the resilience of its investment strategy and the strength of its earnings, driven by a well-diversified revenue base and strong risk management, despite global economic and geopolitical challenges.
The report stated: “NSIA has remained profitable for 12 straight years, accumulating retained earnings of N3.74 trillion by the end of 2024.” It further noted that total operating profits—excluding shares of profits from associates and joint venture (JV) entities—rose from N1.17 trillion in 2023 to N1.86 trillion in 2024. This increase was attributed to strong performance across NSIA’s diversified investment portfolio, infrastructure assets, foreign exchange gains, and derivative valuations.
Total Comprehensive Income (TCI), including profits from associates and JVs, reached N1.89 trillion in 2024—a 59% rise from N1.18 trillion in 2023. Core TCI, which excludes foreign exchange and derivative valuation gains, surged by 148% to N407.9 billion in 2024, compared to N164.7 billion in the previous year. This growth was supported by strong returns on financial assets, including collateralized securities, private equity, hedge funds, and Exchange-Traded Funds (ETFs).
Additionally, NSIA’s net assets nearly doubled, increasing by 96% from N2.22 trillion in December 2023 to N4.35 trillion by December 2024.
Commenting on the achievement, NSIA’s Managing Director and Chief Executive Officer, Aminu Umar-Sadiq, emphasized the authority’s strategic vision and commitment to economic transformation.
“Our exceptional financial performance in 2024 reflects our disciplined execution, strategic partnerships, and commitment to sustainable socio-economic development. Through innovation and sound risk management, we have not only delivered strong returns but also created lasting value for our stakeholders,” Umar-Sadiq stated.
Looking ahead, NSIA reaffirmed its focus on managing Nigeria’s sovereign wealth fund and fulfilling its mandate as outlined in the NSIA Act, with a continued emphasis on economic growth, investment expansion, and long-term national prosperity.
