NSIA’s Net Assets Hit N919.7Bn In 2021, Despite Market Challenges

Nigeria Sovereign Investment Authority (NSIA) announced it recorded positive returns, achieving net assets growth of N919.73 billion in 2021 as compared to N772.75 billion in 2020, representing 19 percent increase.

The Authority also recorded continuous earnings for the 9th year, despite risks across markets last year.

NSIA report released  by Managing Director/Chief Executive Officer, Uche Orji, showed also that NSIA recorded a total comprehensive income of N147.0 billion in 2021, inclusive of forex gains of N45.8 billion in the year under review.

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He also revealed that the authority recorded total operating income – Core income of N100.8 billion in 2021, exclusive of forex gains.

Orji said the NSIA, last year, “delivered a strong performance,” adding that “the results are in line with the Authority’s expectations.”

He noted that the performance of the authority’s developed market investments “were offset by challenges in our emerging market asset allocation, particularly in China equities, which saw significant underperformance by technology company stocks.”

On what to expect this year and in the coming years, “Looking ahead to 2022 and beyond, we believe inflationary pressures will persist for much of this year, affecting the performance of all asset classes.”

He, however, says the NSIA remains “committed to strengthening the Authority’s performance by strengthening our risk management teams.”

On the plan, he added that, “In addition to expanding our direct investment footprint in innovation and technology in Nigeria, we have also designated ESG as an investment focus area.

“We will remain unrelenting in our quest to deliver the Authority’s clear 3-fold mandate. I am confident that the actions we are taking will create value for all our stakeholders in the medium to long term.”