Total Comprehensive Income of N96bn in 2022 representing a decline of 34 percent relative to 147bn in 2021 due largely to strong macroeconomic headwinds. Nonetheless, the agency was able to outperform most global investment benchmarks and indices to deliver a respectable performance.
The Managing Director and Chief Executive Officer, Mr. Aminu Umar-Sadiq, said the performance was recorded despite the challenges in the operating environment.
He said, “Against market expectations and internal forecast, NSIA closed the 2022 financial year with a respectable performance. This result underscores the robustness of our diversified portfolio and the excellent commitment of the team…”
Adding further, he remarked “As we look to the future, NSIA is resolute in its commitment to delivering increased investments in critical sectors of the economy, driving growth across its funds, and attracting third-party capital into Nigeria’s infrastructure sector. In 2023, we will be resourcing our various platforms targeted at emerging sectors – renewable energy, sustainability, innovation, and healthcare – which will ensure the Authority achieves its dual objectives of delivering financial returns and impactful social outcomes.”
The 2022 fiscal year was marked by unprecedented shocks, such as the COVID-19 lockdown in China, the Russia-Ukraine conflict, food and energy crises, supply-chain disruptions, soaring inflation, and monetary policy tightening, which precipitously impacted the financial markets.
The earnings of the NSIA Group at the end of 2022 was N96.96 billion, which is 34% less than the N146.98 billion recorded in 2021. This decline was primarily attributable to the performance of our Future Generations and Stabilization portfolios that are invested in emerging and developed financial market instruments.
NSIA’s well-diversified portfolio continues to provide the resilience to withstand market challenges as evidenced by the results.
Oreoluwa is an accountant and a brand writer with a flair for journalism.
