NSIA: We Have Invested Over $500m To Boost Nigeria’s Infrastructure

Aminu Umar-Sadiq, managing director of the Nigeria Sovereign Investment Authority (NSIA), says the agency has invested over $500 million in domestic infrastructure.

Umar-Sadiq spoke during an investigative hearing by the house of representatives ad hoc committee on ministries, departments and agencies (MDAs), in Abuja on Tuesday.

The managing director said about $1 billion was invested in what is called “third-party investment”.

Umar-Sadiq also said the NSIA has carried out an infrastructure investment portfolio in agriculture, healthcare, and power; while developing over 10 institutions and platforms to improve the financial market ecosystem.

“The agency has developed a 10 million solar panel project with over 500 jobs to be created, 13,504 affordable housing units under construction, and support over 236,000 farmers among others,” he said.

Umar-Sadiq said the agency’s net assets have grown from N156 billion in 2013 to N1.01 trillion at the end of 2022.

He added that NSIA has remained profitable over the last 10 years of operation, with yearly audits performed by independent auditors.