This was disclosed in its audited results for the 2022
financial year, which was released on Thursday.
The highlights of NSIA’s activities and performance during
the period under review also showed that it recorded its 10th year of
continuous positive earnings in spite of volatility across markets.
In its 2022 report, the earnings of the NSIA Group was
N96.96bn, a 34 per cent dip compared to N146.98bn recorded in 2021. The
organisation attributed the decrease to the performance of its Future
Generations and Stabilisation portfolios that are invested in emerging and
developed financial market instruments.
On the other hand, its interest income, revenue from
infrastructure business, and management fees earned from fiduciary activities,
increased by 34.5 per cent (₦15.7bn) year-over-year.
The Managing Director and Chief Executive Officer, Mr. Aminu
Umar-Sadiq, said the performance was recorded despite the challenges in the
operating environment.
He said, “Against market expectations and internal forecast,
NSIA closed the 2022 financial year with a respectable performance. This result
underscores the robustness of our diversified portfolio, and the excellent
commitment of the team.”
“As we look to the future, NSIA is resolute in its
commitment to delivering increased investments in critical sectors of the
economy, driving growth across its funds, and attracting third-party capital
into Nigeria’s infrastructure sector.
In 2023, we will be resourcing our various platforms
targeted at emerging sectors – renewable energy, sustainability, innovation,
and healthcare – which will ensure the Authority achieves its dual objectives
of delivering financial returns and impactful social outcomes,” he added.
Nigeria’s sovereign wealth manager, said that the 2022
fiscal year was marked by unprecedented shocks, such as the COVID-19 lockdown
in China, the Russia-Ukraine conflict, food and energy crises, supply-chain
disruptions, soaring inflation, and monetary policy tightening, which impacted
the financial markets.
In 2022, NSIA said that it reached a significant milestone
in implementing its infrastructure strategy by delivering key projects. These
projects cut across core sectors of focus and the implementation of specialised
federal government initiatives.
They include projects in the agriculture sector; the
Presidential Fertiliser Initiative. The opening of the Pandagric Novum farm, a
joint venture between NSIA and Signature Agri Investment for the cultivation of
maize and soybeans and connected to a 147,000 metric tons per annum capacity
poultry feed mill.
In the technology sector, NSIA said it introduced the NSIA
Prize for Innovation as a measure to stimulate the ingenuity of Nigerian
innovators and technopreneurs to develop solutions that address real-world
challenges with global application. The NPI program is a business enhancement
initiative to support early-stage, growth-driven tech solutions through
education, mentorship, and financing and recorded milestones in the gas
industrialisation sector, health care, power and road.
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