Nigerian Sovereign Investment Authority invests $500m in infrastructure

The Nigeria Sovereign Investment Authority (NSIA) says it has invested over $500 million in infrastructure projects in Nigeria.

The intervention affirms the Authority’s strategic focus on enhancing the country’s infrastructure and economic viability.

Mr Aminu Umar Sadiq, the Managing Director, said this in Abuja on Thursday at the public presentation of the 2023 financial results of the company.

He said the strategic focus of the company was to enhance the country’s infrastructure and economic viability.

Sadiq said the company was playing a pivotal role of the development of the Nigerian economy.

“The NSIA’s impact on domestic investments has created real-time jobs and contributed to ease of doing business.

“Subsequently, by creating a more attractive investment environment, the NSIA is effectively leveraging its resources to attract significant additional capital for critical projects.

“Already, the NSIA has made investments in over 50 percent of locally owned and operated private equity funds.

“This targeted support strengthens the local financial ecosystem and empowers homegrown businesses to contribute to national development,” Sadiq said.

He listed some global challenges impacting investment flows as the tightening global monetary policies, a slowdown in China’s economy, the 2023 United States banking crisis, Nigeria’s political transitions, and sustained high inflation levels.

Sadiq said these factors played a critical role in shaping investment strategies and decisions at the NSIA.