BY SAM OTUONYE
The Nigeria Sovereign Investment Authority (NSIA) on Thursday, April 2, 2026 disclosed that its total assets surged to N4.91 trillion in 2025, representing 10.9 per cent, even as its dollar equivalent stood at $3.4 billion.
Making its Earnings Presentation to the Media, the Chief Executive Officer (CEO) of NSIA, Aminu Umar-Sadiq, explained that the performance feat was achieved through dynamic asset allocation, efficient liquidity deployment, a 35.8% increase in investment securities, and improved returns across multiple asset classes.
“This resilient growth was underpinned by a total of ₦360.8 billion in capital contribution during the year and ₦478.8 billion in core earnings. This growth was driven by dynamic asset allocation, efficient liquidity deployment, a 35.8% increase in investment securities, and improved returns across multiple asset classes. Together, these factors contributed to strengthening the balance sheet.”
The Authority added that the Group’s net asset value in USD increased by 19.8%, from $2.8 billion in 2024 to $3.4 billion in 2025. This was supported by cumulative capital injections of $241.2 million during the year, combined with $320.2 million in net earnings across core revenue streams.
On core operating income (NGN), the Authority said it rose from N498.0 billion ($328.5 million) in the prior year to N525.3 billion ($349.1 million) in 2025, reflecting efforts to actively deploy capital across diverse asset classes.
“This growth was primarily driven by a 138% increase in the performance of externally managed investment portfolios, supported by improved performance across both developed and emerging markets.
“Additionally, interest income from financial assets increased by 10%, reflecting higher yields and increased volumes, despite market rate cuts,” the statement read.
Other components of core operating income included infrastructure revenues from agriculture and healthcare businesses.
“As part of its planned exit from the Presidential Fertilizer Initiative (PFI), and in line with the market-driven Phase II model, NSIA successfully completed the phased transfer of operatorship to the Ministry of Finance Incorporated (MoFI) between 2024 and 2025.
“This transition impacted agriculture infrastructure revenues but aligns with NSIA’s strategic goal of promoting long-term sustainability and deepening private sector participation across the fertilizer value chain,” the statement added.
On Total Operating cost, the Authority maintained a well-controlled operating cost base, with the Cost-to-Income Ratio (CIR) remaining below 5%, rising modestly from 3.6% in 2024 to 4.2% in 2025.
It highlighted its catalytic role in mobilising capital, strengthening infrastructure, and supporting innovation across healthcare, energy, technology, agriculture, and capital markets.
It also noted that it is advancing Nigeria’s digital infrastructure through Kasi Cloud, an indigenous hyperscale data centre platform expected to reach approximately 32MW capacity at full completion, even as the platform will support cloud services and digital infrastructure in Nigeria with the phase I of the project scheduled to commence operations in Q2 2026.
On its health investment, the Authority said the Oncology platform was consolidated in three existing Diagnostics and Cancer Centres, with an additional 8 centres currently under construction, adding: “The full network of 11 centres is expected to be operational by Q3 2026, significantly enhancing frontline healthcare delivery through improved early detection, advanced diagnostics, and specialised care services.”
NSIA has supported the development of a 30MW gas-fired embedded power plant in Victoria Island, providing a US$9 million project loan. Once operational, the project is expected to reduce dependence on diesel generation and improve power supply to commercial users within the locality.
It has also advanced RIPLE, its US$25 million flagship renewable energy platform, established to develop, finance, and operate projects across generation, distribution, and manufacturing.
“In 2025, RIPLE partnered with EM-ONE Energy Solutions to deliver a clean energy plant at the MedServe-LUTH Cancer Centre under an Energy-as-a-Service model, providing reliable power with no upfront cost. The project aims to cut diesel use by about 250,000 litres annually, avoid up to 663 tonnes of CO₂ emissions, and lower operating costs, with plans to replicate the model across other MedServe facilities nationwide.
“RIPLE also reached financial close on a 400MW solar PV module assembly plant in Ogun State to boost local manufacturing and support Nigeria’s shift to sustainable energy.”
On Financial Market Infrastructure,
the Authority said it has committed ₦25 billion for a 25% equity stake in National Credit Guarantee Company (NCGC), with ₦10 billion deployed as the first tranche. The initiative aims to expand access to credit for Nigerian businesses, particularly MSMEs, through guarantee and risk-sharing mechanisms, supporting business growth, job creation, and broader economic development.
It participated in Nigeria Real Estate Investment Trust (NREIT) Series IV, investing ₦16 billion in Chapel Hill Denham’s NREIT Series IV issuance, supporting the development of income-generating commercial real estate assets. This investment helps deepen domestic capital markets and promotes greater institutional participation in Nigeria’s real estate sector.
On Agriculture, the Authority stated that
it collaborated with AFC to facilitate a scalable cold-chain platform designed to provide 15,000 pallet spaces of temperature-controlled storage across strategic locations including Lagos, Kaduna, Kano, Benue, and Plateau. With a US$25 million capital commitment from NSIA, the project aims to strengthen food supply chains, reduce post-harvest losses, and support economic diversification and job creation.
