The year under review presented the NSIA and the wider investment community with a number of macro-economic challenges which have had far-reaching implications for the Nigerian economy. From global supply chain disruptions due to the ongoing Russia-Ukraine war to sustained forex movements, double-digit inflation, and decreasing levels of per capita income. Financial markets experienced a turbulent year as rising inflation led to monetary authorities tightening interest rates, which impacted all asset classes. The global economy was further strained by China’s restrictive Covid-19 policy, which persisted throughout most of the year.

Despite challenging macroeconomic conditions in 2022, it proved to be a decent year for the NSIA as we consolidated gains from previous years, and commenced institutionalizing ESG practices across our investment value chain. The NSIA remained resilient to the challenges as demonstrated by our ability to return a profit after tax of N102.4 billion.