The Nigeria Sovereign Investment Authority (NSIA) has reported a cumulative revenue of ₦3.74 trillion as of the end of 2024, marking 12 consecutive years of profitability.
The agency disclosed this in its audited financial results for the 2024 fiscal year, released in Abuja on Monday. According to NSIA, the impressive financial performance underscores the resilience of its investment strategy, a well-diversified revenue base, and robust risk management practices despite global economic and geopolitical challenges.
“NSIA has remained profitable for 12 consecutive years, resulting in cumulative retained earnings of ₦3.74 trillion at the end of 2024,” the statement read.
The authority also reported that total operating profits, excluding earnings from joint ventures and associates, grew significantly from ₦1.17 trillion in 2023 to ₦1.86 trillion in 2024. This growth was attributed to strong returns from its diversified investment portfolio, infrastructure assets, and gains from foreign exchange movements and derivative valuations.
Total Comprehensive Income (TCI), including profits from joint ventures, rose by 59% to ₦1.89 trillion in 2024 from ₦1.18 trillion in 2023. Additionally, Core TCI, which excludes foreign exchange and derivative valuation gains, surged by 148% to ₦407.9 billion from ₦164.7 billion in the previous year.
The NSIA further revealed that its net assets nearly doubled, increasing by 96% from ₦2.22 trillion in December 2023 to ₦4.35 trillion by the end of 2024.
Commenting on the financial success, NSIA’s Managing Director and CEO, Aminu Umar-Sadiq, attributed the strong performance to strategic vision, disciplined execution, and a commitment to sustainable economic development.
“The Authority’s outstanding financial performance in 2024 reflects the strength of our strategic vision, disciplined execution, and unwavering commitment to sustainable socio-economic advancement. By leveraging innovation, strategic partnerships, and sound risk management, we have not only delivered strong returns but also created value for our stakeholders,” he said.
Following the appointment of a new board led by Chairman Olusegun Ogunsanya, the NSIA affirmed its commitment to maintaining transparency and corporate governance while pursuing its mandate of managing Nigeria’s sovereign wealth.
Looking ahead, the NSIA stated that it remains focused on delivering strong risk-adjusted financial results, expanding its investment portfolio, and driving large-scale infrastructure projects to enhance econ
