NSIA Deploys $10.33 Billion to Boost Jobs, Housing, Youth Empowerment, and Economic Growth
The Nigeria Sovereign Investment Authority (NSIA) has deployed $10.33 billion to drive economic growth across critical sectors, supporting thousands of jobs, building infrastructure, providing affordable housing, and empowering the youth.
The Managing Director and Chief Executive Officer of NSIA, Mr. Aminu Umar-Sadiq, disclosed this at a media engagement on the Authority’s 2024 earnings presentation held in Abuja on Wednesday.
According to him, NSIA’s investments are already making a profound difference across the country. He revealed that the Authority’s three healthcare projects alone have served over 282,100 patients, including an astonishing 150,000 chemotherapy sessions.
“Our healthcare projects are saving lives daily and giving hope to thousands who otherwise might not have access to quality treatment,” Umar-Sadiq said.
In education, the NSIA boss announced that over 3,500 young Nigerians had received formal education through partnered institutions, giving them a brighter future. On housing, he noted that the Authority is currently constructing 13,504 affordable houses to bridge Nigeria’s housing deficit.
He further explained that the NSIA had also touched lives through corporate social responsibility (CSR) initiatives, especially by developing social infrastructure and supporting agricultural out grower programs.
“Through our CSR activities, we have reached many communities, building infrastructure and creating opportunities where hope was once scarce,” Umar-Sadiq stated.
He noted that NSIA’s operations have led to over 245,000 direct and 200,000 indirect jobs across various sectors, bringing income and stability to thousands of families nationwide.
In agriculture, Umar-Sadiq said that over 236,000 farmers have been empowered through NSIA’s initiatives, with youths making up 68 percent of the beneficiaries and women accounting for 50 percent.
“These are real people—young people, women—whose lives are being transformed through sustainable farming support,” he stressed.
He also mentioned that NSIA developed a 10MW solar power project, which is projected to create over 500 jobs, both directly and indirectly.
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Umar-Sadiq broke down the economic support by sector, he states that NSIA’s investments included $7.5 billion in agriculture, $1.8 billion in motorways, $695 million in the financial market, $274 million in gas industrialization, $42 million in healthcare, and $22.5 million in power.
“These investments are not just numbers. They are catalysts for change, stimulating sectors that touch every Nigerian’s life,” he said.
Umar-Sadiq also revealed that NSIA’s net assets nearly doubled in 2024, growing by 96 percent to N4.35 trillion from N2.22 trillion in 2023.
He shared that over $500 million was deployed into domestic infrastructure projects and that NSIA remained a leading force in sustainability efforts, positioning itself as the preferred green investment partner.
The Authority also succeeded in catalysing over $1 billion in third-party investments within the financial year, expanding its robust portfolio across agriculture, healthcare, and power.
Umar-Sadiq proudly stated that NSIA has invested in over 50 percent of locally owned and operated private equity (PE) funds, boosting indigenous enterprise growth.
On financial performance, he noted that Total Comprehensive Income (TCI) was lifted by improved returns from externally managed investments, thanks to market recoveries, along with increased earnings from Eurobonds, fixed deposits, and commercial papers.
Despite the global economic challenges, particularly the trade tensions influenced by former U.S. President Donald Trump, Umar-Sadiq assured that NSIA’s earnings would remain stable.
He explained, “If you look at the mandate of our Sovereign Wealth Fund, it is largely a savings mandate. So, irrespective of the ongoings on the macro-side, based on our strategic assets’ allocations, you’ll see stable income growth.”
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