By Lina Ama
Nigeria Sovereign Investment Authority (NSIA) has announced its audited financial results for the 2024 financial year, revealing that it’s net assets grew to N4.3 trillion in 2024.
This was contained in a statement signed on Monday by NSIA’s Head of Corporate Communications, Joyce Onyegbula.
The Authority reported that its net assets nearly doubled, increasing by 96 per cent to N4.35tn as of December 2024, compared to N2.22tn in December 2023.
The statement read: “Net Assets nearly doubled, increasing by 96 per cent to N4.35tn as of December 2024, compared to N2.22tn in December 2023.”
The rise highlights the Authority’s successful investment strategy, driven by a diversified revenue base and robust risk management practices.
According to the statement, NSIA maintained profitability for the 12th consecutive year, resulting in cumulative retained earnings of N3.74tn at the end of 2024.
Total operating profits, excluding share of profits from associates and joint venture entities, rose from N1.17tn in 2023 to N1.86tn in 2024.
The statement further revealed that the Total Comprehensive Income, including share of profits from associates and joint venture entities, reached N1.89tn in 2024, representing a 59 per cent increase from N1.18tn in 2023.
Commenting on the results, the Managing Director and Chief Executive Officer, Aminu Umar-Sadiq, attributed the success to strategic vision, disciplined execution, and a commitment to sustainable socio-economic advancement.
“The Authority’s outstanding financial performance in 2024 reflects the strength of our strategic vision, disciplined execution, and unwavering commitment to sustainable socio-economic advancement.
“By leveraging innovation, strategic partnerships, and sound risk management, we have not only delivered strong returns but also created value for our stakeholders,” he said.
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