The Managing Director, Nigeria Sovereign Investment Authority (NSIA), Uche Orji, on Friday said that the agency recorded a comprehensive income increase of N26.3billion in 2015, compared to N15. 7 billion recorded in 2014.
Mr. Orji stated this in Abuja while addressing journalists on the audited financial results of NSIA for the 2015 financial year.
According to him, investment income of the authority stands at N 5. 8 billion, while its total assets, which grew by 20 per cent, also stands at N213. 6 billion at the end of 2015.
Mr. Orji said that although the Federal Government approved additional capital of 25million dollars to the authority, it received the amount in February 2016.
He explained that the money would be invested within the new fiscal year, using the existing deployment ratio of 40 per cent in infrastructure fund.
The managing director said 40 per cent of the sum would be deployed in Future Generation Fund and 20 per cent in Stabilisation Fund.
Mr. Orji said in 2015, the NSIA deepened investment in Nigeria-based private equity and fund managers.
”Private equities are people who seek opportunities in private markets and invest over time and get returns.
”This has been one of the most successful asset classes of investment in the world, the difference, however, is that they invest over three to four years and start giving returns.
”We believe it is one of those things that will help the Nigerian capital market develop significantly and will earn us significant amount of return.
”So, we unbounded four Nigeria-based portfolio managers in private equity, bringing our total commitments of private equity to 24,” he said.
The managing director said that one of the key things NSIA embarked upon in 2015 was the framework of co-investments to bring other investors to partner the authority to invest in projects.
‘’The first we arrived at is on real estate and we expect that it will be operational in the second half of this year.’’
He said that if successful, it would be used as strategy for other segments like power, agriculture and health care to help channel investments from outside into the country.
He identified the key sectors for infrastructure investment of the NSIA as agriculture, health care, power and real estate.
Mr. Orji explained that the 2015 fiscal year was characterised by high volatility and global market uncertainty, adding that the agency still recorded an overall positive results.
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