The Nigeria Sovereign Investment Authority (NSIA) has committed $500 million to domestic infrastructure development and facilitated third-party investments of over $1 billion, according to Mr. Aminu Umar-Sadiq, the Managing Director & Chief Executive Officer of NSIA. Speaking during an investigative hearing held by the House of Representatives, Umar-Sadiq highlighted that NSIA is jointly owned by the federal government, state governments, local governments, including the Federal Capital Territory and its Area Councils.
He noted that NSIA’s investment portfolio covers critical sectors like agriculture, healthcare, financial infrastructure, technology, innovation, and power. The organization has also developed institutions and platforms to enhance the financial market ecosystem within the country.
Umar-Sadiq shared that NSIA’s efforts include a 10 MW solar power project, the construction of over 13,000 affordable housing units, support for over 236,000 farmers in various agricultural projects, and the facilitation of fertilizer production through the Presidential Fertiliser Initiative (PFI). The NSIA’s net assets have grown significantly, from N156 billion in 2013 to N1.017 trillion at the end of 2022, and the net contribution has increased from the initial $1 billion to a current net asset value of $2.27 billion as of December 2022.
Lateef Shittu, the representative of the Director General of the Nigeria Governors Forum (NGF), also spoke during the hearing, expressing the satisfaction of the Governors Forum with NSIA’s level of interaction and the objectives of its projects in relation to their impact on the nation.
