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NSIA Net Assets Rise By 96% To ₦4.35 Trillion In One Year

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By Chidi Ugwu

The Nigeria Sovereign Investment Authority (NSIA) has grown its net assets by 96% to ₦4.35 trillion as of December 2024, compared to ₦2.22 trillion in December 2023.

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This is contained in the Authority’s audited financial results for the 2024 fiscal year, released on Monday in Abuja.

According to a statement, signed by Joyce Onyegbula, Head, Corporate Communications, NSIA maintained profitability for the 12th consecutive year, achieving cumulative retained earnings of ₦3.74 trillion by the end of 2024.

The result indicates that total operating profits increased by 59% from ₦1.17 trillion in 2023 to ₦1.86 trillion in 2024, driven by diversified investments, infrastructure assets, and gains from foreign exchange movements, while total Comprehensive Income (TCI) reached ₦1.89 trillion in 2024, a 59% rise from ₦1.18 trillion in 2023.

Also, Core TCI (excluding foreign exchange and derivative valuation gains) surged by 148% to ₦407.9 billion.

The results highlight the Authority’s strategic investment approach and commitment to driving long-term economic transformation in Nigeria, showcasing remarkable growth and resilience despite global economic challenges.

NSIA’s Managing Director and CEO, Mr. Aminu Umar-Sadiq, attributed the exceptional performance to disciplined execution of strategy, innovation, and sound risk management.

He emphasized the Authority’s focus on delivering socio-economic value and fostering long-term prosperity for Nigerians.

In 2024, a new Board chaired by Mr. Olusegun Ogunsanya was appointed to provide strategic oversight and ensure adherence to corporate governance practices.

The statement reassured that NSIA remains committed to its mandate of managing Nigeria’s sovereign wealth fund with a focus on creating sustainable value through diversified investments and large-scale infrastructure projects, adding that the Authority plans to enhance social outcomes while delivering strong financial returns for current and future generations.

The NSIA manages Nigeria’s sovereign wealth funds through three mandate funds: the Stabilisation Fund, Future Generations Fund, and Nigeria Infrastructure Fund. It aims to drive sustained economic development by building a savings base, improving infrastructure, and providing economic stabilization during crises.

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*Enugu Politics: Emerging Facts Affirm Prof. Akubue Augustine Uchenna as the Authentic Chairman of ADC in Enugu State* As the discerning citizens of Enugu State anticipate the strategic activities of the African Democratic Congress (ADC) ahead of the 2027 general elections, irrefutable facts have now emerged detailing how *Professor Akubue Augustine Uchenna* was duly elected by consensus as the authentic State Chairman of ADC in Enugu, the Coal City State. Investigations conducted by our correspondents in Enugu reveal that Professor Akubue’s emergence was the product of a meticulous, all-inclusive, and constitutionally grounded process. Far from being arbitrary, his ascendancy reflects the collective will of the party’s apex leadership at both national and state levels, who, in a rare display of unanimity, entrusted him with the mandate to pilot the affairs of the Enugu State chapter. Foremost among these facts is that the Congress Committee, chaired by the erudite *Dr. C.C. Okeke*, a former distinguished member of the Federal House of Representatives, which conducted the Enugu State Congress, was properly constituted and duly appointed by the National Working Committee (NWC) of the party. The procedural integrity of the congress is therefore beyond reproach. Furthermore, the consensus that produced *Professor Akubue Augustine Uchenna* enjoyed the imprimatur of the foremost political luminaries across the three senatorial districts of the state. These include the venerable *former Governor Okwesilieze Nwodo* for Enugu North Senatorial District, the globally acclaimed scholar and former Minister of Power, *Professor Barth Nnaji*, for Enugu East Senatorial District, and the respected technocrat *Mr. John Nwokeabia* for Enugu West Senatorial District. Their collective endorsement underscores the pan-Enugu legitimacy of his chairmanship. Equally instructive is the fact that other eminent chieftains and stakeholders of ADC in Enugu State, including an ex member of the Federal House of Representatives *Amb Fidel Ayogu* who is a member of the ADC National Working Committee (NWC) and leading gubernatorial aspirants for the 2027 elections under the ADC platform such as *Sir Chinyeaka Ohaa*, a seasoned administrator and former Federal Permanent Secretary, *Senator Gil Nnaji*, a ranking parliamentarian of national repute were integral to the consensus that affirmed Professor Akubue as the authentic State Chairman. A senior chieftain of the party and former Special Adviser to the Governor of Enugu State, Hon. Kentus Eze who is also a member of ADC National Convention Committee disclosed to our correspondent that party leaders and stakeholders convened an emergency harmonization meeting shortly after the State Congress to consolidate the leadership structure under Professor Akubue. He noted that Akubue was duly elected by the legitimate custodians of the party’s mandate in Enugu State, adding “For me, the message is congratulations to Akubue led State Exco and to all members of ADC in Enugu State for having a hitch free Congress. I believe that all members of the party will join hands with the Akubue ledae Exco of the party because we are all aiming at one goal” With his formidable pedigree as a scholar of international repute, a consummate administrator, and a consensus-builder with gravitas across political, intellectual, and civic circles, *Professor Akubue Augustine Uchenna* brings to the ADC in Enugu State a rare confluence of academic distinction, strategic foresight, and principled leadership. His chairmanship heralds a new epoch of intellectual rigor, organizational coherence, and elite political engagement for the party as it positions itself for the 2027 electoral contest.
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