Despite tough market, NSIA’s net assets grow to N919.7 bn in 2021
The Nigeria Sovereign Investment Authority (NSIA) has recorded positive returns, with net assets growth to the tune of N919.73 billion in 2021, as against N772.75 billion posted in 2020, representing 19 per cent increase.
Also, the Authority recorded continuous earnings for the 9th year, despite risks across markets last years.
A report released yesterday by Managing Director/Chief Executive Officer, Uche Orji, showed also that NSIA recorded total comprehensive income of N147.0 billion in 2021, inclusive of forex gains of N45.8 billion in the year under review.
He also revealed that that the authority recorded total operating income - Core income of N100.8 billion in 2021, exclusive of forex gains.
Orji said the NSIA, last year, “delivered a strong performance,” adding that “the results are in line with the Authority’s expectations.”
He said performance of the authority’s developed market investments “were offset by challenges in our emerging market asset allocation, particularly in China equities, which saw significant underperformance by technology company stocks.”
On what to expect this year and in the coming years, he said: “Looking ahead to 2022 and beyond, we believe inflationary pressures will persist for much of this year, affecting the performance of all asset classes.”
He however, said the NSIA remains “committed to strengthening the Authority’s performance by strengthening our risk management teams.”