The Nigeria Sovereign Investment Authority says it delivered a revenue of over 100 billion naira in the year 2022 and net assets that have grown over the years by over 10 percent to more than a trillion Naira.
Addressing Journalist in Abuja on 10 years of its existence, its said the agency’s outlook has continue to remain positive despite the investment challenges that occurred over recent years.
The Nigeria Sovereign Investment Authority is an independent investment institution set up to manage Nigeria’s sovereign wealth fund in excess of budgeted hydrocarbon revenues.
The agency invests funds on Behalf of the three tiers of government through the future generation fund, Nigeria infrastructure fund and stability fund.
It is ten years since the Bill establishing the agency was assented to by former president Goodluck Jonathan.
At the conference with journalists in Abuja, it said it was able to generate a hundred billion Naira for the year 2022 and increased in its net asset.
It had also had challenges which emerged as a result of global happenings which affected its investments and interventions
Despite it’s steady growth over the years, certain issues have arisen like its with the National assembly over whether it was properly set up constitutional law, and who determines its budget.
The Agency maintains its stand that it should have the needed autonomy as is practiced globally, if it must grow and attract the necessary investment expected of it.
The agency is optimistic that the year 2023 outlook holds more positivity as it now plans to recycle capital .
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