The Nigeria Sovereign Investment Authority (NSIA) has reported a 59% increase in profits, with retained earnings reaching N3.74 trillion in 2024. This milestone reflects over a decade of consistent financial growth.
According to a statement from NSIA’s Head of Corporate Communications, the agency’s total operating profits rose from N1.17 trillion in 2023 to N1.86 trillion in 2024. This performance was driven by strategic investments in infrastructure, financial assets, and gains from foreign exchange.
For MSMEs and entrepreneurs, the implications are significant. A stronger NSIA means more government-backed investments that can improve access to funding, enhance infrastructure, and support sectors vital to small businesses.
Total Comprehensive Income (TCI), which includes earnings from joint ventures and partnerships, increased by 59% to N1.89 trillion. Core TCI, excluding currency and derivative gains, saw an even sharper rise of 148%, reaching N407.9 billion. The authority credited this growth to investments in private equity, hedge funds, and Exchange-Traded Funds (ETFs), many of which fuel business expansion and innovation.
NSIA’s net assets nearly doubled, growing from N2.22 trillion in 2023 to N4.35 trillion by the end of 2024. Managing Director and CEO Aminu Umar-Sadiq described the results as proof of the agency’s commitment to long-term economic transformation. He emphasized that strategic investments would open new funding and growth opportunities for SMEs.
“With innovation, partnerships, and sound risk management, we will continue to create value and drive prosperity for businesses across Nigeria,” he said.
Under the leadership of a newly appointed Board of Directors, chaired by Olusegun Ogunsanya, NSIA has pledged to maintain transparency, good governance, and impactful investments.
Despite global economic challenges, NSIA’s financial resilience offers hope for Nigeria’s business environment. Stronger investments in key sectors like agriculture, manufacturing, and technology could mean better lending conditions and improved policies that benefit small businesses and the wider economy.
