 | |
| Industry | Institutional investment (sovereign wealth fund) |
|---|---|
| Founded | 2011 |
| Headquarters | , |
Key people | Aminu Umar-Sadiq – Managing Director & Chief Executive Officer[1] Farouk Gumel – Chairman of the Board of Directors[2] |
| Total equity | US$2.56 billion (December 2021) |
| Divisions | Stabilisation Fund Future Generations Fund Nigeria Infrastructure Fund[3] |
| Website | https://nsia.com.ng |
The Nigeria Sovereign Investment Authority is a Nigerian establishment which manages the Nigeria sovereign wealth fund,[4] into which the surplus income produced from Nigeria's excess oil reserves is deposited. This sovereign wealth fund was founded for the purpose of managing and investing these funds on behalf of the government of Nigeria. The fund was established by the Nigeria Sovereign Investment Authority (Establishment, etc.) Act 2011, signed in May 2011, and commenced operations in October 2012 . It is intended to invest the savings gained on the difference between the budgeted and actual market prices for oil to earn returns that would benefit future generations of Nigerians.[5] The fund was allocated an initial US$1 billion in seed capital,[1] and, an additional $0.60billion has been contributed to date by the current administration. In October 2023, the fund has US$2.3 billion in assets under management.[6]
- ^ a b Ujah, Emma (21 May 2013). "Sovereign Wealth Fund takes off with $1bn grant". Vanguard. Retrieved 30 June 2013.
- ^ "Buhari inaugurates NSIA board, asks them to boost economic diversification". Cable. 1 September 2021. Archived from the original on 23 June 2013. Retrieved 1 September 2021.
- ^ "Sovereign Wealth Fund will become operational in March – CEO". 21 February 2013. Archived from the original on 14 July 2013. Retrieved 30 June 2013.
- ^ "General Electric to contribute 15% equity in NSIA projects". Ventures. 24 June 2013. Retrieved 29 June 2013.
- ^ Bala-Gbogbo, Elisha (20 December 2012). "Nigeria Sovereign Wealth Fund to Start Investing in March". Bloomberg News. Retrieved 30 June 2013.
- ^ "Nigeria Sovereign Investment Authority (NSIA) – Sovereign Wealth Fund, Nigeria – SWFI". swfinstitute.org. Retrieved 28 June 2023.