The Nigeria Sovereign Investment Authority (NSIA) has reported an operating profit of N1.86 trillion for the 2024 financial year, representing a 59 percent increase from the N1.17 trillion recorded in 2023.
In a statement on Tuesday, Joyce Onyegbula, NSIA’s head of corporate communications, attributed the performance to the resilience of the authority’s investment strategy, strong earnings, a diversified revenue base, and robust risk management despite global economic challenges.
“NSIA has remained profitable for 12 consecutive years, resulting in cumulative retained earnings of N3.74 trillion at the end of 2024,” Onyegbula said.
She noted that total operating profits, excluding earnings from associates and joint ventures, rose from N1.17 trillion in 2023 to N1.86 trillion in 2024. The increase was driven by the strong performance of NSIA’s diversified investment portfolio, infrastructure assets, and gains from foreign exchange movements and derivative valuations.
According to Onyegbula, total comprehensive income—including profits from associates and joint ventures—stood at N1.89 trillion in 2024, reflecting a 59 percent increase from N1.18 trillion in the previous year.
Core total comprehensive income, excluding foreign exchange and derivative valuation gains, surged by 148 percent to N407.9 billion in 2024, up from N164.7 billion in 2023. The rise was supported by robust returns on financial assets measured at fair value, including collateralized securities, private equity, hedge funds, and exchange-traded funds.
NSIA further reported that net assets nearly doubled, increasing by 96 percent to N4.35 trillion as of December 2024, compared to N2.22 trillion in December 2023.
Commenting on the results, NSIA Chief Executive Officer Aminu Umar-Sadiq described the financial performance as “outstanding,” emphasizing the strength of the authority’s strategic vision, disciplined execution, and commitment to sustainable socio-economic growth.
“By leveraging innovation, strategic partnerships, and sound risk management, we have not only delivered strong returns but also created value for our stakeholders,” Umar-Sadiq said.
