Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has revealed that the assets of the Nigeria Sovereign Investment Authority (NSIA) increased from $1 billion in 2015 to $3.5 billion in 2021.
This represents about 250 percent growth within the period.
Mrs Ahmed who stated this at the inauguration of the third board of NSIA at the State House, Abuja, said from a base position of $1billion when the Buhari administration assumed office in 2015, NSIA now had about $3.5 billion in assets.
She said that the board would, on behalf of the Nigerian people, guide and oversee NSIA management’s activities towards delivering outcomes that would transform the fortunes of the country.
“Using the NSIA Act as its guide, the Board will be required to superintend initiatives that meet the current and future needs of Nigerians.
“On our part as a government, we will continue to support the authority with the necessary policies and framework to ensure that the mission of the institution is delivered in a transparent, sustainable and inclusive manner,” Ahmed added.
Earlier, while inaugurating the nine-man board, President Muhammadu Buhari advised the members to make more investments to boost the country’s economic diversification drive.
He reaffirmed his administration’s commitment to implementing long-term projects and programmes that create jobs for Nigerians.
Buhari stated that the full impact of most of the strategic projects started on his watch would only be felt long after he had left office, even as he described the appointment of the board as a call to duty, action and performance, adding that they are eminently qualified for
the job.
The new board is chaired by a non-executive chairman Farouk Mohammed Gumel (North-west), and non-executive directors: Ike Chioke (South-east), Babatunde Sobamowo (South-west), Isiekwena Ikemefuna Louis (South-south), Ali Goni Kadugum (North-east), and Oniyangi Kabir Sulaiman (North-central).
