Business Destinations NSIA grows net assets by 19% to N919.7 bn

NSIA grows net assets by 19% to N919.7 bn

The Nigeria Sovereign Investment Authority, NSIA, navigated several headwinds in 2021, growing net assets to N919.73 billion in 2021, from N772.75 billion posted in 2020.

The growth represented a 19 per cent increase in net assets.

Also, NSIA recorded continuous earnings for the 9th year, despite risks across markets in the last nine years.

NSIA is Nigeria’s investment institution set up to manage funds in excess of budgeted hydrocarbon revenues.

A report released on Monday by Managing Director/Chief Executive Officer, Uche Orji, showed that NSIA recorded total comprehensive income of N147.0 billion in 2021, including forex gains of N45.8 billion in the year under review.

He also revealed that that it recorded total operating income of N100.8 billion in 2021, excluding forex gains.

Orji said the NSIA delivered a strong performance in 2021, noting that “the results are in line with the Authority’s expectations.”

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