NSIA 2018 Report Shows Strong Performance As Assets Jump To N617 Billion

The Nigeria Sovereign Investment Authority (NSIA), manager of Nigeria’s sovereign wealth fund, has posted strong numbers for the 2018 financial year.

 The figures announced today show strong performance in a year when many international markets under-performed, and the global economy experienced a moderate pace of expansion.

The Authority recorded an incredible 16 percent growth in total assets which moved from N533.88 billion to N617.70 billion at year end. Total comprehensive income (including the impact of foreign exchange gains) also moved up from N27.93 billion in 2017 to N44.34 billion.

Despite concerns over international trade flows, slow growth in key economic indicators and increased volatility across financial markets, the Authority’s investment strategy proved robust with headline numbers maintaining a favourable trajectory across the three funds – The Stabilization Fund, Future Generations Fund and Nigeria Infrastructure Fund.

Highlights of NSIA’s activities and performance during the period include increased investments in domestic infrastructure projects specifically in agriculture, healthcare, and infrastructure enabling financial institutions.

In the healthcare sector, a financial close was reached on three (3) healthcare projects including a Cancer Centre at Lagos University Teaching Hospital (LUTH), Advanced Diagnostic Centres at Federal Medical Centre Umuahia (FMCU) and Aminu Kano Teaching Hospital (AKTH).

The LUTH cancer centre had already been commissioned and the facility will soon be fully open for clinical operations.

Others are the Presidential Fertilizer Initiative, Presidential Infrastructure Development Fund (PIDF), Project Novum and the creation of InfraCredit- poised to transform the infrastructure bond market having facilitated transactions for North South Power and Vitan.

The Fertilizer initiative has led to increased output with approximately 12 million bags of fertilizer produced to date with a total of 18 blending plants participating while the infrastructure fund ensured capital deployment across three of the major road projects under PIDF including 2nd Niger Bridge, Lagos – Ibadan Expressway and Abuja-Zaria-Kaduna-Kano Road.

The Authority’s performance for 2018 reflected the strength of the Authority’s strategy across all the funds as the Authority aggregate performance outstripped most global market indicators in the period. 

NSIA also posted positive outlook for the current year with focus on infrastructure investment including the implementation of next phase of the health sector’s diagnostic and treatment centres.

The Authority also announced that its board had approved a focus on Gas Industrialization.