Key Facts

As of year-ended December 31, 2018, highlights of NSIA's performance and activities are as follows:

  • Total comprehensive income (including the impact of foreign exchange gains) of N44.34 billion (previous year: N27.93 billion).
  • Total comprehensive income (excluding the impact of foreign exchange gains) of N26.29 billion (previous year: N26.28 billion).
  • Total Assets recorded a growth of 16% to N617.70 billion at year end (previous year: N533.88 billion):
  • Return on Capital Employed (ROCE[1]) on the core funds (in Naira):
    • Stabilisation Fund (100% Funds deployment): 7.2% 
    • Future Generations Fund (81% fund deployment): 8.3%
    • Nigeria Infrastructure Fund (17% fund deployment): 7.7%
  • Increased focus on domestic infrastructure projects specifically in agriculture, healthcare, and infrastructure enabling financial institutions:
    • Healthcare: Reached financial close on three (3) healthcare projects including a Cancer Centre at Lagos University Teaching Hospital (LUTH) and Advanced Diagnostic Centres at Federal Medical Centre Umuahia (FMCU) and Aminu Kano Teaching Hospital (AKTH). We have commissioned the LUTH cancer Centre. The facility will soon be fully open for clinical operations.
    • Presidential Fertiliser Initiative: Increased output with approximately 12 million bags of fertiliser produced to date with a total of 18 blending plants participating.
    • Presidential Infrastructure Development Fund (PIDF): Received US$ 650million from NEC and commenced capital deployment across three of the major road projects under PIDF including 2nd Niger Bridge, Lagos – Ibadan Expressway and Abuja-Zaria-Kaduna-Kano Road.
    • The joint venture of NSIA and UFF reached financial close on Project Novum, a fully integrated farm located on 3,500 hectares of land in Panda, Nasarawa State.
    • InfraCredit: NSIA having created InfraCredit, attracted other investors to the company and de-recognized it from the book. InfraCredit is poised to transform the infrastructure bond market having facilitated transactions for North South Power and Vitan. New investors in InfraCredit AfDB and KfW.
    • Other key infrastructure projects in the pipeline for 2019 include:
      • Commodities Exchange (NCX): Progress has been made and we are in the process of choosing a strategic partner.
      • Investment in Basic Chemicals with OCP Morocco: Basic Chemical Platform to produce ammonia and other fertilizer products.
  • Assets under management:
    • NSIA core capital- US$1.5 billion
    • Other 3rd party managed funds comprised of:
      • PIDF - US$650 million
      • DMO - US$122.60 million (US$120.95 - Fair value 31 Dec 2017)
      • Nigeria Stab. Fund – ₦13.64 billion
    • Gross sum of US$417.46 million (US$350 million principal plus returns) repaid to the Nigeria Bulk Electricity Trading Company Plc (“NBET”) following the expiration of the 4-year investment term.