Press Release

NSIA Announces Partnership with REA

December 23, 2021 –

The Nigeria Sovereign Investment Authority (NSIA) is investing in the Off-Grid renewable space in partnership with the Rural Electrification Agency (REA). The Solar Power Naija Program is being launched under the Buhari Administration’s Economic Sustainability Plan (“ESP”) and supervised directly by the Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo.

The NSIA-REA partnership will see the NSIA creating an initial revolving fund of ~N10 billion for qualified developers to distribute and manufacture Solar Home Systems. The fund will be accessible by Nigerian Electrification Program qualified developers under the existing REA and World Bank scheme that guides technical qualification and provides grants for developers to invest and participate in Off-Grid Electrification projects. The REA under the Ministry of Power will provide technical and advisory support to the NSIA as it rolls out the program.

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NSIA Announces Audited Financial Results for 2020 Financial Year

May 11, 2021 –

The Nigeria Sovereign Investment Authority (“NSIA” or “The Authority”), manager of Nigeria’s sovereign wealth fund, today announces its audited results for 2020 financial year, reflecting a strong financial performance and consistent implementation of strategic infrastructure investment programmes for the year.

Despite the challenges of Covid-19, NSIA had a strong year owing to strong performance from its investments in international capital markets, improved contribution from subsidiaries and affiliates and exchange gain from foreign currency positions. NSIA recorded 343% growth in Total Comprehensive Income to N160.06 billion in 2020 (previous year: N36.15 billion). Excluding devaluation gain of N51billion, core income of N109billion compared to  N33.07 billion in 2019.

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NSIA Implements Restructuring of the Presidential Fertiliser Initiative (PFI)

April 27, 2021 –

The Nigeria Sovereign Investment Authority, NSIA has begun implementing the directive for the restructuring of the Presidential Fertiliser Initiative (“PFI”). In a bid to make the program more sustainable and following its notable successes and transformative impact over the past 4 years, the presidency approved the restructuring of the PFI program starting in the 2021 cycle.

The role of NSIA under PFI transitions to an upstream player thereby limiting its involvement to importation, storage and the wholesale of raw materials to blenders. The NSIA subsidiary NAIC-NPK Limited will be spun off to the Ministry of Finance Incorporated (MoFI).

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NSIA and BVGH partner to bolster cancer treatment for Nigerians

April 27, 2021 –

The Nigeria Sovereign Investment Authority (“NSIA” or “the Authority”) announces the expanded strategic partnership between the NSIA-LUTH Cancer Center (“the Center”) and BIO Ventures for Global Health (BVGH) to realize NSIA’s vision for reducing the impact of cancer in Nigeria. Under the arrangement, the NSIA will benefit from BVGH’s African Access Initiative (AAI) which is suited to enabling both parties to achieve their objective of containing Cancer-related mortality in the country.

This partnership builds further on the solid foundation of programs led by BVGH that is delivering value to the Center and helping to improve treatment for Nigerians. As it stands, cancer is a serious health threat in Nigeria, with 116,000 new cancer cases reported each year and more than 70,000 deaths annually

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NSIA signs landmark agreements with OCP of Morocco, Others.

March 2, 2021 –

NSIA signs landmark agreements with OCP of Morocco, Akwa Ibom State, NNPC, GACN, NCDMB and FEPSAN for development of US$1.4 billion plant to produce Ammonia and Diammonium Phosphate, under its Gas Industrialization Strategy.

Agreements further cement the joint resolve of His Excellency, Muhammadu Buhari, President of Nigeria and His Majesty, King Mohamed VI, King of Morocco to develop a Multipurpose Industrial Platform project in Nigeria, a project of monumental significance in the quest for industrialization, food security and continental cooperation.

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