By Tony Obiechina, Abuja
The Nigeria Sovereign Investment Authority (NSIA) on Wednesday announced its audited results for the 2023 financial year with total operating income rising to N1.18 trillion.
NSIA’s total Operating Income increased from ₦101.1 billion in the previous year to ₦1.18 trillion, inclusive of foreign exchange gains during the period, a statement from the Authority has said.
This significant rise was attributed to the positive performance of the equities and fixed-income portfolios, as well as the positive performance of NSIA’s infrastructure investments.
The financial performance underscores the resilience of the NSIA’s investment strategy and the quality of its earnings, despite the challenging global macro-economic, and geo-political landscape.
Highlights of the Authority’s activities and performance during the period include inter-alia: 2023 FY Financial Results:
The Authority recorded 11 consecutive years of continuous positive earnings with a cumulative annual growth rate of 117.3%.
It’s net Assets grew 119% to ₦2.22 trillion in Dec-23 (Dec-22: ₦1.02 trillion).
The total Comprehensive Income closed at ₦1.18 trillion for 2023, a growth of 1,122% relative to ₦96.96 billion in 2022.
The core total Comprehensive Income (excluding foreign exchange gains) rose from ₦21.39 billion in the previous year to ₦164.69 billion, marking a 670% increase attributable to the Authority’s robust strategic asset allocation and adherence to best-in-class enterprise risk management processes.
The Managing Director & Chief Executive Officer, Mr. Aminu Umar-Sadiq remarked, “Our excellent results in 2023 and consistent positive performance over a decade offer further proof of our robust strategic asset allocation, proficient execution of our infrastructure initiatives as well as effective risk management processes.
“We remain firmly committed to catalysing positive socio-economic outcomes through critical infrastructure investments; strategic partnerships that expand our impact across pivotal sectors; and solutions that not only deliver our mandate but simultaneously uphold environmental stewardship.
“Looking ahead, we re-affirm our focus on creating shared prosperity for current and future generations of Nigerians.”
