The Nigeria Sovereign Investment Authority (‘NSIA’ or the ‘Authority’) is Nigeria’s Sovereign Wealth Fund, with investments in key sectors of the Nigerian economy and internationally.
NSIA was established by an Act of Parliament – the Nigeria Sovereign Investment Authority Act 2011 – to receive, manage and invest Nigeria’s Sovereign Wealth Fund (SWF) through three ring-fenced funds on behalf of the three tiers of the Federation. These funds are the Stabilisation Fund (SF), Future Generations Fund (FGF) and Nigeria Infrastructure Fund (NIF). NSIA invests in a diversified portfolio of short, medium, and long-term assets and aims to
catalyse co-investment with strategic investors domestically and internationally.
The SF is intended to support the country’s fiscal stability and serves as a reserve of funds from which the government may make withdrawals to meet budgetary shortfalls. The FGF is a savings fund, which accumulates savings for future generations of Nigerians by investing in long-term assets. The NIF invests in critical infrastructure in Nigeria that will attract foreign investment, support economic diversification, and boost long-term economic growth. NSIA started operations in October 2012, using US$1 billion seed capital. The positive performance of the funds, and confidence in NSIA’s management, encouraged President Muhammadu Buhari to approve an additional contribution of US$750 million to the Authority in 2020.
NSIA’s successful investments and various recognitions have helped validate a strong corporate governance culture. The Sovereign Wealth Fund Institute (SWFI) ranked NSIA joint second in its global rating of more than 56 SWFs. NSIA has remained the highest-ranked SWF in Africa since 2015.
NSIA is a member of the International Forum of Sovereign Wealth Funds (IFSWF) and subscribes to the Santiago Principles on best
practices for managing SWFs.