The Nigeria Sovereign Investment Authority (NSIA) has reported a 59% surge in profits, with retained earnings hitting N3.74 trillion in 2024—marking over a decade of sustained growth.
A statement by NSIA's Head of Corporate Communications, Joyce Onyegbula, highlighted the agency's strong financial performance, with total operating profits rising from N1.17 trillion in 2023 to N1.86 trillion in 2024. This was driven by strategic investments in infrastructure, financial assets, and foreign exchange gains.
For small businesses and MSMEs, this signals potential economic stability, as increased government-backed investments can improve access to funding, enhance infrastructure, and boost sectors that directly impact entrepreneurs.
The Total Comprehensive Income (TCI), which includes returns from joint ventures and partnerships, climbed by 59% to N1.89 trillion, while Core TCI, excluding currency and derivative gains, rose 148% to N407.9 billion. NSIA attributed this growth to investments in private equity, hedge funds, and Exchange-Traded Funds (ETFs)—many of which support business expansion and innovation.
NSIA's Net Assets nearly doubled, reaching N4.35 trillion in December 2024, up from N2.22 trillion the previous year.
Read also
NSIA Managing Director and CEO, Aminu Umar-Sadiq, said the results reaffirm the institution's commitment to long-term economic transformation, adding that strategic investments will open more funding and growth opportunities for SMEs.
"With innovation, partnerships, and sound risk management, we will continue to create value and drive prosperity for businesses across Nigeria," he said.
Under President Bola Tinubu's newly appointed Board of Directors, chaired by Olusegun Ogunsanya, NSIA pledged to sustain its commitment to transparency, governance, and impactful investments.
For small businesses, NSIA's focus on infrastructure and financial stability could mean better lending conditions, improved economic policies, and more investment opportunities in key sectors like agriculture, manufacturing, and technology.
Despite global economic challenges, Onyegbula emphasized that NSIA's financial resilience is a positive sign for Nigeria's business environment, ensuring sustained investments that support entrepreneurs and economic growth.
