Press Release

Appointment of Executive Directors

March 9, 2019 –

The NSIA today announced that the Presidency has confirmed the appointment of two Executive Directors to the NSIA Board. Mrs. Stella Ojekwe-Onyejeli has been reappointed as Executive Director for a second term. She is also the Chief Operating officer of NSIA. Mr. Aminu Umar-Sadiq, who is NSIA’s Deputy Head of Direct Investments, has been appointed, for the first time, as Executive Director.

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NGN8.5Bn Guaranteed Corporate Green Infrastructure Bond

March 1, 2019 –

Lagos, Nigeria: InfraCredit, a ‘AAA’ rated infrastructure credit enhancement facility backed by the Nigeria Sovereign Investment Authority, GuarantCo (a Private Infrastructure Development Group company), KfW Development Bank and Africa Finance Corporation, is pleased to announce its guarantee of North South Power Company Limited’s (“NSP”) NGN8.5billion 15-Year 15.60% Series 1 Guaranteed Fixed Rate  Senior Green Infrastructure Bonds Due 2034 (the “Series 1 Green Bonds”) under a NGN50billion Debt Issuance Programme. NSP is the operator of a 30-year concession on the 600MW Shiroro Hydroelectric Power Plant.

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Commissioning of the NSIA - LUTH Cancer Treatment Centre

February 9, 2019 –

His Excellency, President Muhammadu Buhari today commissioned the NSIA - LUTH advanced cancer treatment centre located in the Lagos University Teaching Hospital (LUTH), Idi-Araba, Lagos.

Structured under a public-private partnership (PPP) arrangement between the Nigeria Sovereign Investment Authority (NSIA), and the LUTH, the project is a US$11 million investment for the rehabilitation, equipping and operation of an existing cancer centre co-located in LUTH, which will provide advanced radiotherapy and chemotherapy treatment services. The PPP is executed as a Build-Operate-Transfer (BOT). The NSIA owns the centre 100% today and but full ownership is expected to revert to LUTH after 10 years of operations.

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Redemption of NBET Fund

August 9, 2018 –

Abuja – Today, the Management of the Nigeria Sovereign Investment Authority (“NSIA” or “the Authority”) announces the payment of the gross sum of US$417.46 million to the Nigeria Bulk Energy Trading Company Plc (“NBET”) following the expiration of the 4 years investment term.
NSIA transferred the funds in three tranches as follows; US$8 million (May 2016), US$5.5 million (August 2016) and lastly US$403.96 million (July 2018). The returned fund consists of the principal sum of US$350 million allocated to the NSIA from the proceeds of the US$1 billion Eurobond issued by the Federal Government of Nigeria in July 2013 under a fund management agreement and the sum of US$67.46 million (net of fees) as interest and earnings over the investment period.

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NSIA, Ogun State Government & InVivo Sign Letter of Intent for Land Restoration Project

July 3, 2018 –

Abuja –The Nigeria Sovereign Investment Authority (“NSIA” or “The Authority”), managers of Nigeria’s sovereign wealth fund, in partnership with the Ogun State Government (Ogun State) and the InVivo Foundation, the endowment fund of the InVivo Group, France's leading agricultural cooperative, have signed a Letter of Intent (“LOI”) to spearhead investments in reforestation and land restoration projects in Imeko and Aworo Forest and Game Reserves in Ogun State. Signed during a state visit by President Emmanuel Macron of France to President Muhammadu Buhari in Nigeria, the LOI will enable direct investment in Land Degradation Neutrality and Waste to Energy projects in Ogun State.

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