The Nigeria Sovereign Investment Authority (NSIA) has grown its net assets to N919.73 billion in 2021, from N772.75 billion posted in 2020.
This was contained in a report by the managing director/chief executive officer, Uche Orji.
The recorded growth represents a 19 per cent increase in net assets.
The report also showed that NSIA recorded total comprehensive income of N147.0 billion in 2021, including forex gains of N45.8 billion in the year under review.
In spite risks across markets in the last nine years, the agency which was set up by the government to manage funds in excess of budgeted hydrocarbon revenues, has continued to record growth in earnings.
The report also revealed that NSIA recorded total operating income of N100.8 billion in 2021, excluding forex gains.
Orji said the NSIA delivered a strong performance in 2021, noting that “the results are in line with the Authority’s expectations,” and 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.”
He, however, expressed fears that inflation would affect 2022 “Looking ahead to 2022 and beyond, we believe inflationary pressures will persist for much of this year, affecting the performance of all asset classes.”
Orji said the NSIA remained “committed to strengthening the Authority’s performance by strengthening our risk management teams.”
