About Us
NSIA represents a new era of fiscal discipline.
About NSIA
The Nigeria Sovereign Investment Authority (NSIA or The Authority) is an investment institution of the Federation set up to manage funds in excess of budgeted hydrocarbon revenues. Its mission is to play a leading role in driving sustained economic development for the benefit of all Nigerians through building a savings base for the Nigerian people, enhancing the development of Nigeria’s infrastructure, and providing stabilisation support in times of economic stress.
The NSIA derives its mandate from the NSIA Act, which was signed into law in May 2011. It empowers the Authority to receive, manage and invest funds in a diversified portfolio of medium and long-term assets on behalf of the Federal Government, State Governments, Federal Capital Territory, and Local Government Area Councils in preparation for the eventual depletion of Nigeria’s hydrocarbon resources. To give effect to the mandates, the NSIA established three main funds: the Stabilisation Fund, the Future Generations Fund and the Nigeria Infrastructure Fund.
The role of the Stabilisation Fund is to provide budget support in times of economic stress; the Future Generations Fund is an inter-generational savings fund for future generations of Nigerians, while the Nigeria Infrastructure Fund is to invest in domestic infrastructure.
The NSIA commenced operations in 2012, following the inauguration of its Board of Directors on 9 October 2012, and began investment activities in Q3 2013 with seed capital of US$1 billion. The Authority is owned by the Federal Government (46.2%), State Governments (35.1%), Local Governments (18.2%) and the Federal Capital Territory (0.5%).
The NSIA is a signatory to the Santiago Principles and operates in accordance with their 24 voluntary guidelines, developed by the IMF and the International Forum of Sovereign Wealth Funds (IFSWF) to promote sound governance, transparency and accountability in sovereign wealth fund operations.
Our Ownership Structure
The Authority’s ownership interests are held by all the Federating Units as follows
Our Corporate Philosophy
Mission
To drive economic growth through strategic investments for the benefit of all Nigerians.
Vision
To position NSIA as a leading sovereign wealth fund globally, promoting responsible and strategic investments for Nigeria’s economic development.
Values
In our quest to become the yardstick of national fiscal discipline, our culture is shaped by values that transcend the norm in public service.
Integrity
We are unwavering in our adherence to the tenets of probity, character, and accountability in all our undertakings.
Transparency
We are open and honest in our relations with stakeholders.
Innovation
We improve our ability to think outside the box to drive continuous improvement and find solutions to difficult situations.
Excellence
We aspire to continuously deliver the highest quality of results, setting high standards, and exceeding expectations.
Discipline
We conscientiously apply ourselves in all we do within the ambit of our Act.
Why we invest
To build a savings base for the Nigerian people
NSIA invests with the aim of building wealth and providing a sound financial foundation on which the Federation can formulate ambitious development and diversification objectives. NSIA serves to invest the savings gained on the difference between the budgeted and actual market prices for sale of oil to earn returns that would benefit future generations of Nigerians.
To enhance the development of Nigerian infrastructure
To provide stabilisation support in times of economic stress
Funds
NSIA receives funding primarily from the surplus income generated from the sale of Nigeria’s crude oil. The Authority was allocated an initial sum of US$1 billion in seed capital in 2013. Since then there have been three additional tranches of contributions to the core fund.