The Nigeria Sovereign Investment Authority grew its net assets by N193.21billion in 2020 representing a 33% increase over the N579.54 billion recorded in 2019.
Despite the challenges of COVID-19, the NSIA said it had a strong year owing to strong performance from its investments in international capital markets, improved contribution from subsidiaries and affiliates and exchange gain from foreign currency positions Speaking at a briefing to present the financial performance, the Managing Director of the NSIA, Mr. Uche Orji said the Authority received $311m from funds recovered from the late General Abacha from the US Dept of Justice and Island of Jersey.
Separately, he noted that the NSIA acquired and distributed oxygen concentrators to the 21 teaching hospital as part of corporate social responsibility; in addition to staffing support to the Presidential taskforce on Covid-19.On the performance of the Nigeria Infrastructure Fund, the NSIA CEO said the Authority reached major milestones across domestic infrastructure projects specifically in motorways, agriculture, and healthcare.
He said the number of participating blending plants increased to 44 from less than seven at inception, noting that the Authority has completed the restructuring of the PFI. He explained that the Authority has also invested additional capital into NG Clearing, the first derivative clearing house in Nigeria to maintain NSIA’s shareholding at 16.5 per cent following the company’s rights issue of 2020.