The Nigeria Sovereign Investment Authority has reported a rise in its net asset value to N4.88tn for the 2025 financial year, driven by improved earnings, disciplined investment strategy and sustained growth across its portfolio.
The Managing Director of the Authority, Aminu Umar-Sadiq, disclosed this on Thursday in Abuja during the presentation of the institution’s financial statements, noting that the fund’s total assets also grew by 10.9 per cent year-on-year to N4.91tn.
In dollar terms, the Authority’s net assets climbed by 19.8 per cent to $3.4bn, reflecting the strength of its diversified global portfolio and consistent capital growth since inception.
According to the financial report, the Authority posted a Core Total Comprehensive Income of N478.8bn and Core Operating Income of N525.3bn, underscoring its resilience despite a volatile global and domestic macroeconomic environment.
Umar-Sadiq said the fund’s profitability improved significantly, with Return on Equity rising to 10.5 per cent from 7.2 per cent in 2024, while Return on Assets increased to 9.9 per cent from 7.1 per cent.
He noted that these gains reflect stronger earnings quality and improved performance across asset classes.
Despite recording a net unrealised foreign exchange loss of N322.4bn due to the appreciation of the naira in 2025, the NSIA maintained strong underlying performance, with core income excluding FX volatility growing by 17.4 per cent to its highest level since inception.
Providing a long-term perspective, Umar-Sadiq noted that the Authority has grown its net asset value from an initial $1bn seed capital to $3.4bn over 13 years, representing a compound annual growth rate of 10.7 per cent.
He said, “On a consistent basis for each of those 13 years, irrespective of our macro and micro financial conditions, the institution has always turned a profit.”
He added that the Authority’s growth has been driven by prudent asset allocation, strong governance, and a focus on long-term value creation.
The NSIA operates three core funds – the Stabilisation Fund, the Future Generations Fund and the Nigeria Infrastructure Fund – designed to support economic stability, intergenerational savings and domestic infrastructure development.
Beyond financial performance, the Authority expanded its investments across key sectors including healthcare, energy, agriculture, housing and technology.
In the healthcare sector, Umar-Sadiq said the Authority strengthened its oncology platform, MedServe, with plans to scale operations nationwide.
“We are hopeful that by Q3 this year, we should be in the process of operationalising and commissioning more centres,” he said, noting that eight additional centres are expected to come on stream to improve access to specialised care.
The Authority also secured a $24.3m concessional financing facility to enhance cancer and cardiac care services.
In the energy sector, NSIA intensified investments through its renewable energy platform, RIPLE, supporting distributed energy solutions and advancing a 400MW solar module assembly plant in Ogun State.
It also backed a 30MW embedded power project in Victoria Island, Lagos, aimed at improving electricity supply and reducing dependence on diesel.
To support innovation, the Authority partnered with the Japan International Cooperation Agency to launch a $50m impact fund targeting Nigerian startups across sectors such as healthcare, agriculture, education and energy.
Umar-Sadiq said, “For each of our US dollars being deployed, we continue to attract between two to three dollars for the benefit of Nigeria’s infrastructure sector.”
In agriculture, the Authority progressed with a temperature-controlled logistics network to reduce post-harvest losses, while also supporting affordable housing projects in Abuja and Kano.
Also speaking, the Chief Financial Officer, Victor Sesere, said the Authority exceeded its performance targets for the year, with total revenue rising by six per cent and total comprehensive income increasing by 68 per cent compared to 2024.
“We did not only surpassed our prior year performance, but we also exceeded our set target for 2025,” he said, adding that returns on equity remained above 10 per cent, reflecting efficient capital utilisation.
He emphasised that the Authority has maintained profitability every year since its inception, even during periods of global economic shocks.
The Chief Investment Officer, Kolawole Owodunni, attributed the performance to strategic positioning amid global and domestic macroeconomic developments, including currency stabilisation, tight monetary policy, and strong returns from technology-linked investments.
Despite increased investments, the Authority maintained cost discipline, with its cost-to-income ratio at 4.2 per cent, one of the lowest in the industry.
The management team noted that the 2025 performance reflects a deliberate strategy to balance financial returns with measurable economic impact.
It reaffirmed that the Authority remains focused on portfolio diversification, risk-adjusted returns and catalytic investments to drive long-term economic growth while preserving capital for future generations.
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