NSIA reports record-breaking ₦1.89 trillion in total comprehensive income for 2024

By Kazeem Ugbodaga

The Nigerian Sovereign Investment Authority (NSIA) has unveiled its audited financial results for the 2024 fiscal year, marking a remarkable 12th consecutive year of profitability.

The NSIA closed the year with a Total Comprehensive Income (TCI) of ₦1.89 trillion, an impressive increase from ₦1.18 trillion in 2023, representing a 59% growth.

A key highlight of the results is the substantial rise in operating profit, which surged from ₦1.17 trillion in 2023 to ₦1.86 trillion in 2024, excluding profits from associates and joint ventures.

The Core-TCI, which excludes foreign exchange and derivative valuation gains, also saw a staggering 148% increase, reaching ₦407.9 billion.

The NSIA’s net assets climbed to ₦4.35 trillion, further cementing its robust financial position. Cumulative retained earnings have now reached ₦3.74 trillion, a testament to the success of its strategic investments and prudent risk management.

In a statement, the NSIA highlighted that the results reflected its resilient investment strategy and unwavering commitment to creating sustainable value for Nigerians.

The Authority emphasized that its focus on strong corporate governance has played a key role in ensuring consistent growth and profitability over the years.

“As we close the books on a successful 2024, we remain committed to fostering long-term value creation for current and future generations of Nigerians. Our performance this year underscores the effectiveness of our diversified investment approach and the discipline with which we manage risk,” said the NSIA in a statement.

The continued financial success positions the NSIA as a key player in Nigeria’s economic growth and underscores the organization’s commitment to driving impactful investments that benefit the nation’s future.