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The Nigeria Sovereign Investment Authority (NSIA), custodian of the country’s Sovereign Wealth Fund, has reported a staggering 1,122% surge in its total comprehensive income for the fiscal year 2023. According to the audited financial results obtained by The PUNCH on Friday, the NSIA’s total comprehensive income soared to N1.18 trillion, a significant leap from N96.96 billion recorded in 2022.
The remarkable increase in total comprehensive income, excluding foreign exchange gains, reached N164.69 billion, marking a substantial 670% rise from the previous year’s N21.39 billion. This notable growth has been attributed to the NSIA’s effective strategic asset allocation and robust enterprise risk management processes, reflecting its commitment to best practices.
The NSIA’s outstanding financial performance underscores its pivotal role in managing Nigeria’s Sovereign Wealth Fund and optimizing returns on investment. With a focus on prudent financial management and strategic decision-making, the NSIA continues to play a crucial role in driving economic growth and stability in Nigeria.
Further details on the NSIA’s audited financial results will be provided in subsequent reports.